Jump to content

User:Sdtiner/"financial organizing"

From Wikipedia, the free encyclopedia

Financial Organizing

[edit]

Financial organizing, a subcategory of professional organizing services recognized by the National Association of Professional Organizers, NAPO, is a process of designing overall systems that facilitate and support achievement of business and personal financial goals. It involves setting up effective systems for managing personal and business financial information such as paper and electronic records, setting up systems for tracking account cash flows, training on financial software, setting up a budget and monitoring cash flows, establishing financial goals and priorities, providing financial advice within the organizer's appropriate area of expertise, providing referrals to and/or coordinating with other financial professionals such as accountants, attorneys and financial advisors, organizing records for filing tax returns, organizing estate documents and making final arrangements, and providing ongoing bookkeeping and/or daily money management support.

Financial Organizers who are members of the National Association of Professional Organizers must adhere to a [1]Code of Ethics. [2]The Board of Certification for Professional Organizers is the certifying body for the optional CPO® Certified Professional Organizer designation.

[3]The American Association of Daily Money Managers, AADMM, requires members to adhere to a [4]Code of Ethics specifically covering the handling of financial information, and offers an optional certification program.

[5]The American Institute of Professional Bookkeepers, AIPB, offers an optional certification program for members that includes a rigorous exam, 2 years of full-time experience and adherence to a Code of Ethics.

Financial organizing often incorporates principles of frugality and simple living and is treated as a topic area of Personal finance. For example, in the article [6] A Whole Bunch Of Financial Organizing Tips at [7] FiLife, personal finance writer Tom Herman discusses how to prepare and protect important financial documents, review investments, file tax records and simplify banking. This post [8] at the frugality-oriented blog [9] The Simple Dollar explains how to file financial documents, and the article [10] Organize your financial life by Liz Pulliam Weston in the [11]Better Banking section of the [12]MSN Money site emphasizes effective filing systems, systems for paying bills, and managing paper flows.

In the article [13] Creating a Financial Organizing System Professional Organizer and [14] BellaOnline editor Emily Wilska sees financial organizing as a process of choosing the right tools, sorting and purging information, and putting an effective system in place for keeping finances organized.

In the book [15] Organizing Plain & Simple, Professional Organizer and author Donna Smallin describes financial organizing as a process of getting finances in order by managing money more effectively, increasing savings and investments, reducing debt, and living more frugally (see pg. 115). These ideas are developed in more detail in Chapters 13-16.

The post [16]A Financially Organized Life at the blog [17] Brain Dead Simple! Financial Organizing separates the financial organizing process into six stages:

  1. Clarify: Get a snapshot of finances as they are now.
  2. Simplify: Set up effective systems for managing financial information.
  3. Dream: Define goals and priorities.
  4. Plan: Specify actions to achieve goals.
  5. Build: Act according to plan.
  6. Thrive. Review and maintain systems and plans.

Although some professional organizers who specialize in financial organizing also provide a full set of traditional bookkeeping services, others provide no bookkeeping support or offer a specific subset such as accounting software installation and setup.

[edit]