FDIC: Lose the 'clutter'

Maybe part of the problem is not doing the little things right. If so, it might be best for you to cut the financial clutter that is occupying your life.

The Federal Deposit Insurance Corporation has put out suggestions about ways to de-clutter your financial documents and other aspects of your financial arrangements. By doing so, you might make your financial life easier and avoid putting even more debt onto yourself. And once you are out of debt, it can help you stay there.

Organize your personal and financial papers: This seems like such a small thing, but have you ever been looking for that bill, can’t find it, don’t think of it, and suffer a late charge? Every day counts, and having your papers organized can save time and money. Also, keep a good home filing system for your tax documents.

Get rid of the papers you're sure you don't need: Maintain bank, ATM, debit card and credit card statements for about a year if those statements have no tax significance. Maintain them for seven years if taxes are involved. Before disposal, shred any document that has a social security number, bank account number, or other sensitive personal information.

Consolidate accounts: Take your money and place it in fewer accounts. Use fewer credit cards, etc.   

Use direct deposit: Same money. Less paperwork.

Automate monthly bills and pay over the Internet: Take all of your regular bills and set up automatic payments, when possible.

By taking these steps, you can relieve some of the confusion that comes with paying bills and keeping your head above water.