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Frugal Friday: Do Bookkeeping Often

Posted By Jessica Fisher On August 17, 2012 @ 1:48 am In Frugal Friday | 28 Comments

Regular bookkeeping can help you locate bank errors and fraud in a timely manner, reminds you not to overspend, and gives you a sense of security or accomplishment if you’re right where you’re supposed to be.

I spent all of my Tuesday working on bookkeeping. All day. I was spent when I lifted my weary body from the chair and my bleary eyes from the computer screen.

It’s not that we have such vast resources that bookkeeping is regularly a daylong project.

No, I’m blessed with laziness, instead. I had 7 months of receipts and statements to look over and file, 7 months of transactions to categorize in Quicken, 7 months of paperwork to weed through, and more than one uncleared check to hunt down. It was a mess!

Now, yes, I had kept up on deposits and bill paying. Since I use online banking, paying bills really only takes a few minutes each month. We weren’t late or overdrawn. But, I really hadn’t kept up on things like I should. And I was paying for it — in time and frustration.

When I sat down that morning, I estimated that I’d need only a couple hours to get it all sorted. I was wrong. I’m really thankful that it wasn’t tax time! That would have really stressed me out.

Instead, I learned a valuable lesson — with math, even.

7 hours of work ÷ 7 months = 1 hour per month

If I had kept up with my paperwork, the chore really wouldn’t have been a chore. Taking the math lesson a little further, I see that I really only need to spend an extra 15 minutes each week to keep all the books shipshape. A 7 hour chunk of time is hard to find, but I can easily find an extra 15 minutes in my schedule.

And as they say, time is money.

If anything, regular bookkeeping can help you locate bank errors and fraud in a timely manner. It also reminds you not to pay a stupid tax [4] every month due to overspending. It can also give you a sense of security or accomplishment if you’re right where you’re supposed to be.

Do your bookkeeping often so that you’re not a crazy lady come tax time!

Today’s Frugal Friday!

Time to swap ideas and inspiration for saving money.

How do YOU save money?

Please remember to follow the Frugal Friday Guidelines or be deleted.

  1. Post a money saving idea and explain how it is helpful in your post.
  2. No giveaways or deals posts.
  3. Recipes are allowed, but you must explain how it saves people money.
  4. Please include a link back to Life as MOM.




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