Get Organized! Week One

It’s Time to Get Organized!  Create several systems to keep track of your financial paperwork.    There are many systems out there, from file folders to financial binders to digital organization.    Try a few out and see what works best for you on a consistent basis.  Areas to organize include paper bills, electronic bills, long term paperwork & general financial life organization.   

The Scoop:  We get what seems like a million pieces of paper each year.   It’s easy to get overwhelmed by the piles of paperwork that accumulate all throughout the house.   So, for the next few weeks, I hope to post once a week to help you get organized.    Take what you like, and leave the rest, but keep checking back weekly.  

Week One:      Gather your financial papers

Week Two:      A Financial Binder

Week Three:  An Electronic Organized system

Week Four:     Keeping track of bills and a file system for paid bills

Week Five:      Papers files or Scanned files?

Week Six:        Create a lock box of important documents

Week One:  For this week, start by finding a cardboard box and begin pulling together all your financial papers and records in one place.  Just open the box and toss in the information.  Having it all in one box rather than scattered around the house will help in the next few weeks putting together a financial binder and organizing system.    If you have all your documents electronically, start pulling them all together in one file folder on your computer called Finances, plus the current year.   Example “Finances 2020”.  

A quick list of items that come to mind are: 

  • Copies of your tax returns
  • Bank statements & credit card statements
  • Insurance policies (car, home, life, health, etc)
  • Last Will and Testament, Living Wills and relating documents
  • Pension, 401K, Retirement and Social Security statements
  • Paycheck Stubs and work related files
  • Investment account statements & related papers
  • Credit Reports
  • Outstanding Loan documents
  • Lease or mortgage information

Pull together things that you know you should keep in a safe place and that you could get your hands on in ten minutes if needed.

Up next, creating a financial binder. 

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