It's Your Money - Spend it Wisely
Do you know where your money goes? Do you know what Apps and Cloud Storage you are paying for and when it renews? Do you know what payment method you use to pay all of your bills? I know it is complicated and confusing. This is why auto renewal is so popular. Companies hide auto renewal in the fine print of the e-agreements when you sign up for online accounts, Apps, and subscriptions.
This information is extremely beneficial to have in one place. If something happens to you it is also extremely helpful for your heirs. If you have Elderly Parents, encourage them to take the time to create a spreadsheet with this information. Simple Solution Organizing LLC creates an Excel worksheet with this information for all of their Daily Money Manager Clients.
It is not difficult to create. It includes the following:
If you prefer to purchase a Template, I sell them for $5. Reply to this email and I will send it to you with a payment link. Template also includes a Tab for all of your Income sources.
Instructions for completing it:
Go through each statement and enter the payment information accordingly. If you see charges from Apple you will need to go into Settings on your iPhone, (Apple ID, iCloud, Media & Purchases), Media & Purchases, view Account, then view Purchase History and also Subscriptions. Charges from Amazon, Google, Facebook, and others will also require additional research.
To obtain an average payment for each of your Credit Cards: Compile 6 months or a years worth of payments and then divide by 6 or 12 respectively.
This will take time and it is worth it! Once you uncover everything that you are paying for you can cancel subscriptions you no longer want to keep.
It is just as important to list all of your income sources. List those on another tab as you work your way through your Checking statements.