You might organise your Ramadan food shopping, weekly budget, Eid holiday or social iftari calendar, but how many of us organise our finances? How many know what our finances look like, or how many different items and accounts we have? It might be assets, property, savings, pensions or even current income. Can you find all the important documents you need to organise your finances, or would it take you a while to locate and arrange everything?
Ultimately, we have to ask ourselves, if something were to happen to you, do you know what would happen to your finances? How easy would it be for a loved one or legal adviser to find everything they need? Getting your finances in order can simply mean recognising what you own and arranging all the important information related to it. It doesn’t have to be difficult! We’ve generated a list of steps to help you think about and get your finances in order.
Be aware of what your finances are
The first step in organising your finances is to recognise what you need to organise. This could be noting any assets or sentimental items that will need a new owner once you’re not around. It might be noting your income, savings or pensions and who might benefit from these once you pass. It might be as simple as thinking about what documents are important and where you need to store them, as well as any relevant passwords or requests for others to fulfil. Make sure that wherever you store your documents it’s safe and secure.
Waseeya offers a bank level secure encryption Vault to store all these things.
What about your digital legacy?
What is a digital legacy? It is everything that will be left behind online when you’re gone. Nowadays, a digital footprint can be so dispersed it can be hard for anyone to keep track of or find all of the accounts you might need to close or update. Think about your digital legacy. What do you have that people might need access to? What do you want to happen to these accounts in the long run? How would an important person know how to access your accounts?
Keep important documents organised
Once you’ve identified what you need to organise, it’s time to gather all the important information related to those items and store them somewhere secure and findable. This will help you keep track of everything you need to know and also make it easy to find what you need in an emergency or unforeseen circumstance.
Ditch the filing cabinets and register for free with Waseeya’s secure cloud based documents storage system.
Review your finances
Awareness of your finances is something that can slip through your fingers quickly. Reviewing your finances regularly will help you keep track of your situation, acknowledge long-term aims, and remain aware of who you might need to speak to or share information with.
Let your loved ones know
When you’ve finished organising your finances, it’s important to let your loved ones know where to look to access any vital information they might need in case of unexpected circumstances. Whether it’s via a file on your computer, a printed copy in a locked box, or in the Vault area of the Waseeya app, where access will be granted to a person of your choosing, at a time defined by you.
Keeping track of, and securely storing important documents will help you maintain an awareness of your financial situation, shape a vision for your long-term finances, and, most importantly, make it easier for your loved ones to access what they need in the future.
Have you written your Waseeya wishes yet? Plan now and feel secure for your future.
Waseeya is on a mission to help you organise your important documents, plan your final wishes and secure your family assets. It can even share your important documents with your loved ones at a time of your choosing. Thinking of organising your finances? Try out the Waseeya web app here.
The current process of writing and updating wills is not only expensive and complex but it fails to recognise the importance of storing and sharing memories, or leaving behind invaluable advice to loved ones.
We founded Waseeya’s web app-based will writing service, because we believe that anyone who has anything to bequeath, must have a will. Technology makes it possible to simplify the process of writing and updating wills and other legal documents. This makes these processes simple, affordable and without the inconvenience of having to visit a solicitor, notary, etc. With the increased need for Shariah compliant wills, we have also introduced an Islamic will service as part of our main app provision. We aim to cater for all within one multi-functional ecosystem.
We’ve also created the concept of the Waseeya Vault. This is designed as a secure digital space where our users can create personal folders for the creation and storage of personal documents, memories, advice and timed-release messages that can be shared with loved ones. These folders can be shared with beneficiaries at a time of your choosing, thereby enabling the sharing of your legacy and memories in a controlled manner. You determine what is shared, with who and when. All within the Waseeya web app.