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Home The Family Plan Accounting/Fiscal One Place to See It All
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One Place to See It All

Kerry Clark January 5, 2018 4 Comments

One Place to See It All

The 5 Basic Financial Categories – Part 1

Since we’re at the beginning of a new year, I thought I’d try to add a little something that most don’t cover related to setting financial goals and making financial resolutions.  In this article, I’d like to discuss the tools and processes that make the goal of having better finances possible.  

One Place to See It All
There are a couple problems we all run into when it comes to managing our finances: 1) not having a way to daily stay on top of it, and 2) no single place to see it all.  If I were to ask you, have all your bills for the month been paid and how many you have left, you’d [like most] have to go rambling through stacks of bills and other paperwork to determine.  If I were to ask, how much money you have available for use, you’d more than likely estimate or check the balance on a bank account.  The problem with this is there isn’t an accurate way of knowing with certainty what’s happening, but is there?  Today, I want to share with you one tool that can change the way to manage your finances.  This tool is called “Mint”.  BTW – it’s free and easy to use.  

Let’s discuss the process of seeing everything in one place.  

What’s Everything?
Mint provides a view of your finances in 5 categories:

  • Cash – represents the money you have at your fingertips.  It’s the funds you can easy and normally use.
  • Credit Cards – highlight what you’ve spent and are obligated to pay back.  Credit cards are like loans that you should be able to control.  
  • Loans – constitute the debts you repay within a certain length of time.  It’s money borrowed with the intent of repaying over a lengthy period of time.
  • Investments – depict the money you have that’s not easy to put your hands on.  It’s those funds that have been somewhat locked away for a future date and time.
  • Property – reflects the value of property you own or the portion thereof.  This category is more important than you might realize.  It’s the one that’s not so easy to see and can be difficult to put your hands on.

Using Mint provides a process to be able to view these five categories all at once in a user-friendly interface.  While the categories sound like you might need a college degree to understand them, it’s not the case. This is what makes meant so powerful.  Plus the overview is real-time, which means the data is refreshed immediately.  

Today is Friday!
You need a way to see your financial disposition from a bird’s eye view.  It needs to be easy and available to you daily if you want to accomplish your New Year’s resolution of managing your finances better.  There are tools for this.  Mint is just one, but the key is to have a process to view your finances.

Question: What challenges are your facing when it comes to managing your finances?  Leave a comment below.

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Filed Under: Accounting/Fiscal, Mint, The 5 Basic Financial Categories Tagged With: Mint

Trackbacks

  1. Seeing Gives You An Advantage | Kerry A. Clark & Company says:
    January 26, 2018 at 3:03 am

    […] yourself fighting an impossible financial battle if you don’t have a way to see the big picture-all your finances in one place.  This is why we use a tool called Mint.  It places the information we need about our loans at […]

    Reply
  2. The Stuff You Wish You Knew | Kerry A. Clark & Company says:
    February 16, 2018 at 3:04 am

    […] Family’s Net Worth Before I continue, remember this post is part of a series called “The 5 Basic Financial Categories“.  These categories are ones that I picked up simply by using an app that I highly recommend […]

    Reply
  3. Improve Your Spending | Kerry A. Clark & Company says:
    February 23, 2018 at 3:02 am

    […] way to see and account for our spending patterns.  Where is the money going?  This led us back to Mint, such a great tool.  Before we get to the specifics, keep in mind that prayer alone isn’t always […]

    Reply
  4. Why You Need an i-Budget | Kerry A. Clark & Company says:
    March 2, 2018 at 3:05 am

    […] have a profession in finance.  Don’t allow this to keep you from being a budget ninja.  Again, Mint is a one stop shop.  It has budgeting functions built right in.  I call it my “digital” budget.  You can call […]

    Reply

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About Kerry A. Clark

Kerry A. Clark is an author, Christian life coach, Information Systems & Technology professional, platform builder and project manager.

He lives in Birmingham, Alabama with his wife, Pamela, and daughter, Tamia and has devoted his life to his 3 M’s: Mission, Message, and Ministration.

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