The first step to effectively managing your finances is to see what kind of financial shape you're currently in. And the first step to determining that is to get organized. Financial organization means, in part, that every bill, policy, statement, and receipt has its place.

Where to File
The place you keep your financial documents could be in many folders in a file cabinet, or in folders on your computer or online. Pick what you feel most comfortable with. But if you choose to file online or on your hard drive, be prepared to either upload paper documents or have a physical file location for documents you can't access online. For example, you may choose to save receipts in an accordion folder labeled by month or category if you don't want to bother scanning them to your hard drive or snapping a photo and uploading to the cloud. Also, if the system you implement isn't working, it's okay to be flexible. After all, in order to get the most out of your organizational system, you need to find one you can stick to.

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What happens when you don't take care of your finances? Just look at our country -- you spend irresponsibly, get in debt up to your eyeballs, and stress about how you're going to make ends meet. The difference is that you don't have a glut of taxpayers to bail you out of your bad decisions.

But if that's not enough motivation to make managing your finances a top priority, consider the following reasons to do so:

1. Because You're the Only One Who Will
The harsh reality is that it's up to you to improve your financial situation now and prepare for your future. Not all debt is so easily wiped out by bankruptcy and it's not likely you can look forward to a company pension when you retire. If you don't start dealing with your financial problems, you'll suffer for it now and into the future.

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Did you know that a four year degree at a public university may cost upwards of $100,000 in 18 years? That's bad news for new parents who expect their kids to go to school, but fortunately it isn't that hard to save up the money needed for college if you start early. Time is on your site if you start early, but it becomes your enemy if you wait too long. So, here's how to finance your child's education.

Credit card debt is one of the biggest problems most people face when trying to get a handle on their finances. Credit cards make it easy to spend more money than you have, and then the crippling interest rates and fees make it seem impossible to get out from under. While there isn't an instant cure for credit card debt, there are steps you can take to put yourself on a path to becoming debt free.

It takes a little planning, a little budgeting, and some time, but if you keep at it you'll find that you're getting out of debt faster than you had imagined. Here's the process to help you eliminate your credit card debt.