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FINANCE
SIMPLIFYING AND ORGANIZING
YOUR FINANCIAL LIFE
by Jill Ciccarelli Rapps, CFP® devise your monthly budgets. Some financial
Financial Advisor software will also provide you with detailed
analytics about your spending habits,
M anaging your money can be a headache, especially if enhancing your ability to monitor and
you make financial decisions on the fly. A haphazard control expenses. There are even applications
approach to overseeing your finances can damage your that will scan your receipts and important
financial wellness, leading to unnecessary costs and documents, creating digital archives for your
wasteful spending. financial information. If you choose to work
By establishing a simplified, organized plan for your finances, you with financial software, make sure to protect
can proactively control your money – empowering you to achieve your information from unauthorized access
financial success. by using encrypted software and creating
strong passwords.
SET FINANCIAL GOALS. Articulating your goals will help you to prioritize
Your financial advisor can help you input and consolidate all your
your spending. Identify the biggest financial undertaking you face – financial information in the program, further simplifying the process
for instance, paying off your mortgage, purchasing a second home, of managing your money.
saving for your dream vacation, putting your grandchildren through
college or preparing for retirement, and write them down where you Set up direct deposits and withdrawals. Arranging automatic
can visit them often. deposits and withdrawals saves you time and effort while ensuring
that your bills are paid on time. All regular income should be directly
DRAW UP A “SPENDING” BUDGET. Review all of your income and earnings deposited into your bank account; most banks will allow you to split
your deposits between different accounts, so you may allocate your
statements, and understand how much revenue you will have for the deposits to various goals you have identified.
month.Then, go through your expenditures and prioritize your future
spending. Refer to your budget at least once per month to ensure that You should also set up any regular monthly expenses – rent, car
you adjust for unexpected income or expenses. payments and utilities – to be automatically withdrawn. Although
you may prefer paper bills, setting up automatic payments will be
Once you develop a clear picture of your cash flow, you can create helpful in the event that someone else needs to pay your bills (for
a budget that accurately reflects your lifestyle and empowers you to instance, if you were to become incapacitated).
realize your goals.
While these tips will guide you towards a simplified and organized
CREATE A FILING SYSTEM. Maintaining files of your important documents financial life, you should also consider meeting with a financial
planner. Financial planners may help you achieve your financial goals
is instrumental to organizing your life. The key to organization is by designing your monthly budget, consolidating your key documents,
finding a system that works for you. By doing so, you will find it much and generating creative solutions to maximize your money.
less cumbersome to keep up on your financial files.
Jill Ciccarelli Rapps, CFP®
For instance, many people prefer working with physical files and www.CASMoneyMatters.com
paper documents. If this is your preference, I recommend keeping a
large basket on your desk for dropping receipts, statements and tax Ciccarelli Advisory Services, Inc. is located at
information.Twice a year, you should dedicate time to sorting through 9601 Tamiami Trail North, Naples, FL (239.262.6577)
these documents. Often times, you will find that the paperwork you
thought was important at the time can actually be shredded. After Jill Ciccarelli Rapps is a CERTIFIED FINANCIAL PLANNER®,
your biannual sorting session, you should retain all of your crucial a trained life coach and a partner of Ciccarelli Advisory Services, Inc., a
information in categorized manila files.
family-focused wealth management firm in
Finally, dedicate a folder to housing your official documents – Florida and New York.
including your estate planning files, social security card, savings bonds
and insurance policies. All of your files should be saved in a secure Investment advisory services offered through Ciccarelli Advisory
location, such as a safe at home, deposit box at the bank, or an online Services, Inc., a registered investment adviser independent of FSC
vault. These files should be easily accessible for you, your trustee and Securities Corporation. Securities and additional investment advisory
your family. services offered through FSC Securities Corporation, member FINRA/
CONSIDER USING FINANCIAL SOFTWARE. For those of you who are more SIPC and a registered investment adviser.
technologically inclined, financial software can serve as a valuable
resource for managing your money.
Many of these programs feature built-in templates to help you
76 Life in Naples | December 2016
