IMPORTANT PAPERS WHAT TO KEEP AND WHERE ORGANIZE

IMPORTANT PAPERS WHAT TO KEEP AND WHERE ORGANIZE IMPORTANT & FINANCIAL RECORDS

WHY? • Save time • Reduce stress • Pay bills on time • Proof of payment • Dispute errors • Document taxes

GET RID OF THAT PILE! IT’S TIME TO FILE! • Active • Keepers • VIP’s • Discards

ACTIVE • Current bills • Current projects • Current receipts – 30 to 90 days • Frequently used names, addresses, numbers • Anything you must access often or that needs attention soon.

ORGANIZE ACTIVE FILES • Keep active files in a convenient location. • Label by topic: bills due, kitchen remodel • Use 1 -31 tabs to organize by due day. • Use month tabs to organize monthly tasks.

KEEPERS • Tax documents (up to six years) • Home improvement, child care payments, and other tax-related expenses • Medical bills & insurance claims – to verify payment • Health and vaccination records • Warranties and owners manuals • Credit card statements - to verify accuracy • Reference papers and articles • VIP’s (require special storage)

FILE STORAGE - KEEPERS AS INDIVIDUAL AS YOU ARE

FILE TIPS • Hanging folders • Clear tabs, dark type or print • Tab on front of folder • Use staples not paper clips • Use colored folders to distinguish categories • Use three-ring binders • Electronic on computer, flash drive, or other electronic storage device

VIP’S (VERY IMPORTANT PAPERS) • • • • Social security card Marriage certificate Birth certificate Adoption papers Citizenship records Military records Death Certificate Automobile titles Contracts Property deeds Mortgage Papers Investment certificates Savings bonds • Passport • Will • Trust agreement • Power of attorney • Insurance Policies • Advance Health Directive • Household inventory • Photo/video • Serial numbers • Legal Papers

SAFELY STORE VIP’S

REPLACING VALUABLE PAPERS • Birth Certificate – Department of Vital Records • Death Certificate –Vital Records • Marriage Certificate –Vital Records • Divorce Record – attorney or Vital Records • Insurance Policies – insurance provider or AR Insurance Dept. • Social Security Cards – online or local Social Security Office • Drivers License – local revenue office • Property Deeds – County Circuit Clerk’s office • Passport – Postal Service

DISCARD • Junk mail • School papers • Magazines • Catalogs • Expired warranties • Old receipts • Old cancelled checks (unless needed for tax purposes or proof of purchase)

ORGANIZE DISCARDS: SHRED, TRASH, RECYCLE • Shred credit card offers, bank statements, etc. • The larger the trash can the more likely you are to use it.

ATTACK THE STACK! 80 % of what gets filed never gets looked at again.

ASK YOURSELF • Is this useful? • Is the information current? • How hard would it be to get this information again later? • Is this piece of paper helping me achieve my goals?

MATCHING GAME – MATCH ITEM IN LEFT TO LENGTH IN RIGHT ITEM: HOW LONG TO KEEP: • Retail receipt – debit • Discard after reading • Car title • Permanently • Charitable donation receipt – cash • As long as you own it • Passport • For tax time • Utility bill • Newspaper • Long enough to verify on bank statement • Birth Certificate • Until it expires • Until the next statement arrives

A FRESH START ORGANIZE FINANCIAL RECORDS FOR TAX SEASON AND BEYOND