Part of getting intentional and mindful with money so that you can tell it what to do and create financial freedom for yourself, is to get organised.
Do you keep organised records of all your financial information?
If so, hooray! Well done. If not, no worries as we're going to help you get organised in this assignment.
Financial Data to Gather
Your task is to get all of this information together :
Investments / Savings Statements or Policy Documents (Retirement and non-retirement including bank savings)
Medical Aid Membership Certificate
Medical Gap Cover Policy
Short-Term Insurance Policy (Car, House Contents, Buildings Cover and portable possessions)
Long-term Insurance Policy (Life Insurance, Disability & Severe Illness Cover, Income Protection, Funeral Cover)
Loan Statements including interest rates, instalments and amounts outstanding (Personal, Homeloan, Car Finance)
Credit Card Statements including interest rates, instalments and amounts outstanding
Marriage Certificate and Ante-nuptial contract (if applicable)
Your Last Will & Testament
You may be able to log on to a couple of websites and download information or you might need to contact a broker or call-centre to get some of the information needed.
Connecting & Organising
As you find and receive everything, take your time to read through the documentation and connect to what you have. Take note of the contents of statements or policy documents and as you work through such, ask yourself the following questions:
Is everything up to date? Are my contact details correct. Have I nominated beneficiary's? Am I correctly insured? Do my payments reflect accurately?
What is this for? How does this work? Do I have any questions about it?
Where will I keep this? How will I organise my files? What method of organising will make it easy for me to find this information again?
Does anything else stand out for me when I connect to this information?
We're going to come back to these questions later on giving you some time to get everything together and connect with it.
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Part of getting intentional and mindful with money so that you can tell it what to do and create financial freedom for yourself, is to get organised.
Do you keep organised records of all your financial information?
If so, hooray! Well done. If not, no worries as we're going to help you get organised in this assignment.