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Post by lookingup on Dec 19, 2009 8:53:04 GMT -5
My squalorous habits are causing me to lose a lot of money. I started digging around yesterday because I realized I had about a years worth of certain medical claims to send to the insurance company. A few of them are missing in action. If I can't find them soon, I'll be out of luck. I found some 2008 claims I had never filed and now it's too late. Then I have about $1800 in my health flex spending account that has to come out of there, but it all has to go to the insurance company first. My sister called last week. She gave me a check over a year ago to get the car detailed. Well, the check was never cashed and the car never detailed. She said "you don't even know where it is, do you?" Nope, I don't. I know there is some missing cash in the piles too.
The really stupid part is that I don't have an awful lot of money. If I filed these things as it went, I'd have more room in my squeaky tight budget, but I can't seem to get a system together to, first, get it to the insurance company, and second, get it to the flex spending place. I suspect this is part of my high credit card balance problem. I spend about $250 a month on medical, so other things go to the credit card. I'd get probably $175 back right away if I could file this stuff in a timely manner.
Last year I made three folders. One for things to go to the insurance company, one for things to go to the flex spending account, one for everything afterwards in case the IRS comes to get me. They are all empty, of course. It's bad enough having expensive ailments, but I'm sabotaging my budget and my pocketbook. Not to mention irritating myself.
Does anybody have a good system for something that has several steps to it? Maybe if I had just used the folders last year...
Anne.
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Post by fluffychild on Dec 19, 2009 9:04:23 GMT -5
I do not like using folders. I would use large size brown envelopes - label the front with bright paper - each folder with a different color. Use large letters for the label. By using the different color, you don't have to read the front, just know what color is what. Things can fall out of folders, the envelopes will grab the items. When you open the mail, put it in the appropriate envelope. I have one envelope for my utility bills - as soon as the check is made out the copy of the bill goes in the envelope. I can sort and straighten them out later. Now that the IRS time is coming and 1099's are coming in - I started a new envelope in the front hall - 2009 IRS items. I then sort the stuff later. If you are going to use folders - use the bright colors and a different color for each item.
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Post by lookingup on Dec 19, 2009 9:51:09 GMT -5
So Fluffy, do you then file the envelopes away with the stuff in them after your business is complete? Envelopes seems like a good idea, especially for the little stuff like all the drugstore receipts.
Anne.
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Post by HFH on Dec 19, 2009 9:51:11 GMT -5
Strange isnt it. I am always late mailing in tax returns even though i get $ back. I do the paperwork and then I get stuck on the go make copies part and it doesnt get mailed. I still have last years on the desk
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Post by fluffychild on Dec 19, 2009 11:29:11 GMT -5
My tax papers are in the front hall standing up in a container. The utility bills are in the kitchen hall in a file crate and that is the first item. I go to a tax consultant and he gives me the copies for my records, then he has the envelopes made out to the state tax office and to the IRS, the copies that go to the state and federal, along with notes of where to sign, and there there is always the note tells to get them mailed by April 15th. When everything is gathered for the accountant, copies back, all the tax information goes in a two gallon zip lock bag with a big label for the year.
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Post by Script on Dec 19, 2009 13:06:55 GMT -5
Strange isnt it. I am always late mailing in tax returns even though i get $ back. I do the paperwork and then I get stuck on the go make copies part and it doesnt get mailed. I still have last years on the desk I would like to add some comments from the point-of-view of a professional bookkeeping/accounting person who was trained in the old school and always had to be accountable to some bosses...... Every office-type job has various segments: beginning, middle, end. Like a well-structured novel. MOST non-professionals have problems with the beginning or the end. People who don't FILE the work after it is done get stuck here because of ..... *unreasonable fear of un-fixeable mistakes ("if this is wrong they will send me to jail") *fear of forgeting some step ("they'll think I'm stupid if I get this wrong") *exhaustion from having done the horrible work in the first place ("I'm so tired, I need a break NOW, and I'll mail this later") *shame that the work is messy or somehow unprofessional ("how can I mail it like this? I am such a jerk; maybe I should re-do it?") *"stuck on the photocopy part" --- there are a zillion creative ways to make photocopies. Find one that works for YOU: until I got my in-home photocopier for work, I knew the location of every machine in every convenience store or Drug Mart everywhere in my neighbourhood. Once I even asked in the office at my church! Desperation........ And of course once the work is LATE, the shame INCREASES remorselessly. Some things I KNOW from my life in numbers: *all mistakes are fix-able. You will not go to jail because you can't add *if you are late, try not to worry: JUST DO IT: the people on the receiving end (revenue canada, IRS, whatever) don't give a flying fig about YOU: they just see it as another piece of paper to process. *even well-run businesses LOSE cheques. I used to have a FORM LETTER which we used when we FOUND stale-dated cheques: "Dear .....: due to a mix-up in our office, we temporarily misplaced your cheque #123 dated XYZ in the amount of $$$. It is now stale-dated. Please re-issue this cheque with a current date. A self-addressed stamped envelope is enclosed for your convenience. We apologize for this lapse on our part." feel free to use the above (no copyright) Good luck to ALL working to save-find-re-organize-money in any way. xxoo
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Post by Peach on Dec 19, 2009 13:11:14 GMT -5
This is also my downfall. Procrastinating with paperwork. I still have to do 2008 state taxes and file for property tax rebates. The tax form has to be submitted before I can submit for the rebate. NJ has the 2 items linked together. I also have to do this for my elderly mother. Plus, her federal taxes. I started everything in late spring. Then got hung up on a retirement account amount and never got back to finishing anything. I did submit our federal taxes -- only because we were getting a sizable refund and DH was pestering me daily. We're getting small refunds from the state also -- so we should not be penalized. I didn't bother submitting extensions either....
As for insurance claims, I don't have insurance at the moment -- so that's not an issue. But, I've been there in the past. I swear the insurance companies make it difficult so many people never jump all the hoops to get their money back. Ditto for the flexible spending accounts. I've never understood why one loses one's own money from those accounts just because one doesn't apply for it within a designated time. Into whose pocket does that money end up? For that reason, I never participated in one.
As for our monthly expenses, I do it all online through my bank. I cut out a lot of mail by having companies send their statements online. This saves on postage and the hassle of writing out checks. Plus, less statements to shred. I only worry about what happens if I drop dead. How will anyone know who I have accounts with if everything is done online and my online accounts can only be assessed via passwords -- that change every 90 days in some cases.
Guess that's another task to do -- write everything down and store it with my Will. Never ending paperwork.....
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Post by gggal on Dec 20, 2009 19:06:13 GMT -5
Do you work at an office by any chance? For some reason, it helped me a lot to keep a few folders at work for all my flex dollar receipts, insurance claims, and expense report receipts. Or else i was just opening my mail at home (if i even opened mail) and the same thing was happening, I was losing so much money for expense reports that I never turned in, insurance claims I never filed, flex dollars unused b/c I didn't know my balance or my card would get turned off until I turned in receipts which of course a self tanner leaked all over b/c they were in a random bag in my apt under a duane reade bag with self tanner I stepped on at some point...the print completely wiped off the receipts. So now I do all that stuff at work. I have the web sites I need bookmarked and passwords written down for my insurance company, flex site, and expense report system...i get to work and try to do them immediately. I put all the receipts/envelopes in one pocket of my purse and bring them to work to deal with them. Plus when I procrastinate from my job, it's a good productive thing to to instead. Designating one "safe" folder away from the chaos that you always put that stuff in as good and it helped me have right next to the computer, my web sites bookmarked, so I could just print off the claim forms I needed and submit submit and either fax in from work or drop in the outbox for the mailroom to pick up and take care of for me.
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Post by dailystruggle on Dec 21, 2009 11:51:09 GMT -5
There are different color see-through plastic envelopes at Wal-Mart. I feel safer with something that is not paper. I accidentally spilled orange juice on mine, but it was no big deal, I just wiped it clean. They tie shut at the top, so you don't have to worry about anything falling out. I'm sure that they have them elsewhere, like at office stores like Staples.
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Post by lookingup on Dec 21, 2009 21:21:30 GMT -5
I do work in an office and do a few things there, but don't like to take personal business to work. It's kind of sensitive material. Luckily I have at least developed the habit of keeping paper together, all tossed in a box. The other day I did copy a bunch of claim forms so I can have them handy to send to the insurance and flex spending right away before it gets into the box. Maybe that will help. And if I keep them in folders right here by the computer (where I spend way too much time!) maybe that will help too.
New Years resolutions are generally useless, but this new year with new medical charges, I'm going to give it a try. Keeping it taken care of on time.
Anne.
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Post by Peach on Dec 22, 2009 11:20:52 GMT -5
I would caution everyone to be very careful with processing personal financial information while at work on your employer's computer equipment. Many companies are very sensitive to the use of their time and equipment for personal reasons. It can be considered theft. (You are stealing the time they are paying you to work for them -- not to work for yourself on that same time.)
There are also numerous computer applications available to employers to track and view information their employees enter into the employer's equipment. Unless you want to risk your personal finances falling into the hands of your employer or their security people, you should be VERY careful.
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Post by gggal on Dec 22, 2009 23:30:56 GMT -5
You make good points Peach. I guess it really just depends on what you are doing and what type of company you work for. I mostly just print off the forms I need to mail my claims in. All the stuff I need is available on our employee intranet site so I figure anything on there is fair game during work hours as long as it is not excessive. My boss is basically the CEO and refuses to use technology and has me do all his forms, claims, mail order prescrips as well, so I don't think I'm going to get fired any time soon. You have very real and valid points though. I don't know what I would do without having a printer, copy machine, or fax right next to me, that's what makes it less challenging. The other thing that helped me was prioritizing my 3 main goals/priorities right now. For me it is finances, family, and personal beauty. I want to have funds to have the freedom to do the things I like and not have money stresses. So anything from being able to work a side job, do a focus group, baby-sit, FILE MY CLAIMS AND EXPENSE reports, etc...I say yes to over social opportunities or relaxing, procrastinating etc. If I have a chance to spend time with family, I do that...choose to pay for a flight over a new pair of shoes, etc. And still on the market, so it's important to me to spend money on things like highlights, skin care, little subtle botox here and there... Like all of us I get hit with demands for my money, time, and attention all the time and was finding I do things so haphazardly...too many nights out for "drinks" or "dinner" or trips, being in weddings, friends wanting to visit, or saying yes to things I really didn't want to do. I finally realized that many of my limitations to what I want to be doing stem from not making enough money to support the things I want to do with MY time and energy....once I started evaluating every day of what I could do that day to help me with my goal...getting those reimbursement checks became a huge priority and helped keep that organized, even if everything else in my life or on my desk was a total disaster, that one folder was always safe from the mess. Anyways, those are the things that have helped me after probably losing several thousand dollars in non used flex dollars or submitted expense reports just from being disorganized, losing things, or having no idea of what my balance is since my statements were in envelopes in about 6 different dash and stash bags from preparation for various spontaneous visitors or booty calls, . No longer allowed by my priority list. Good luck!! Even if you have struggled in the past, if you just get used to putting all this stuff in ONE place every time...that box/folder by your computer, and have $$$$ as motivation, I really think this is one resolution you can achieve.
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