Good record keeping is an important discipline as you map out your financial goals. Imagine if you were notified of an IRS audit: How difficult would it be to get all the necessary past information together? If you have all the data in a single, well-organized place, however, you will be ready for any situation. How do you get organized?

• One good record-keeping tip is to prepare your financial statements at least .

• Ideally, keeping will help you summarize all your transactions.

• A ledger has sections where data is recorded for what you own or your ; what you owe or your ; your cash inflows or your ; and your cash outflows or your .