Week 12 ~ We're going to be working on organizing our paperwork. If you already have a system in place for how you organize your paper work, now is the time to streamline it. If you don't have an organizational system Jen, in the video linked below, has some good tips. I just use a little mail organizer on my desk for bills and things that need taken care of immediately, and an expandable file for receipts, warranties, insurance policies, titles, etc. They don't take up much room and it's perfect for our needs.
If you're just joining in, please read last week post here, where we cleaned our kids room/guest room. You can very easily catch up if you want to. Fifteen minutes a day is pretty manageable and when you set a timer and put a little "pressure" on yourself, you can get a lot done! We're still using #2016HowJenDoesItChallenge on Instagram, if you want to see every ones progress.
You can check out this weeks video from Jen, from HowJenDoesIt, here. For the next several weeks there will be a new challenge and video from Jen for different areas of the home. This seems extremely do-able. We can do it!!
This week will be a little different just try and spend 15 minutes each day Monday-Friday shredding, organizing and simplifying your paperwork. We are going to overcome those paper piles! Most importantly when you are done this week, you should be able to find anything you're looking for, and not have to scramble around all over the house looking for that car title or check stub ;) Another great thing is that you can save a little money and not have any more late fees on bills that you forgot about or found underneath a pile off papers, whoops!
Here is a great link from consumer reports that I found last year on how long you need to keep paperwork. If you own your own business, your needs maybe different, but this is just a guideline, do whatever your comfortable with and whatever works for you and your family.
*Here's a little chart from the website linked above...
Keep these documents at home
Documents | When to toss them |
---|---|
Bank deposit slips | After you reconcile your statements |
Banking statements | After a calendar year; store with tax returns if they will be used to prove deductions |
Brokerage, 401(k), IRA, Keogh, and other investment statements | Shred monthly and quarterly statements as new ones arrive; hold on to annual statements until you sell the investments |
Credit-card bills | After you check and pay them, unless you need them to support tax filings |
Employer defined-benefit plan communications | Never |
Household warranties and receipts | After you no longer own the household items |
Insurance policies | After you renew them |
Investment purchase confirmations and 1099s | Hold until you sell the securities, then keep with your tax records for an additional seven years |
Pay stubs | After you reconcile them with your W-2 |
Receipts | After you reconcile them with your credit-card or bank statement unless needed for a warranty |
Safe-deposit box inventory | Never, but review and update annually |
Savings bonds | Cash them in when they mature |
Social Security statements | When you get a new statement, then shred the old one |
Tax returns and supporting documents | After seven years |
Keep these in a safe-deposit box
Documents | When to toss them |
---|---|
Birth and death certificates | Never |
Estate-planning documents | Never |
Life-insurance policies | Never, or when a term policy has ended |
Loan documents | After you sell your home, automobile, boat, or whatever the loan was for |
Marriage licenses and divorce decrees | Never |
Military discharge papers | Never |
Social Security cards | Never |
Vehicle titles | After you sell the car, boat, motorcycle, or other vehicle |
Good job! Paper work , YUCK! lol
ReplyDeleteIsn't is soooooo nice not to have a ton of it sitting around now??
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