The end of the year brings a time of reflection about what has happened over the past 12 months.
Many people start to wonder where their money went.
Often, panic sets in because it's almost time to prepare tax forms, said a consumer education specialist with New Mexico State University. If this is true about you, now is the time to turn over a new leaf regarding your financial record keeping. An effective financial record-keeping system will provide a way to organize and file receipts, canceled checks, income statements and financial papers, and a way to summarize information about income and expenses, Wright said. The best record-keeping system is one that works for the individual. Typically, this will be a simple system that allows easy access to information.