Even the most organized of people are able to find managing their finances and documents a difficult task. You will save time and money by putting your finances into order. It will also make tax filing less stressful.

If you’re looking to store physical or digital files, you should create a system that works for you. Put all your papers in one location. Examine your kitchen counter and entryway table office desk the car trunk, garage and anywhere else that papers collect. Discard junk mail, catalogs, and expired coupons. Keep receipts and guides to products for major purchases.

Sort your paper documents according to categories. For instance bank statements can be sorted by date, and then into folders for each type of account, such as investments or credit cards. Sorting your records by category can help you locate what you’re looking for when you need it. If you have multiple accounts, like “auto” or “home” Consider using subfolders. You can also sort them by year. This is especially useful in the event of tax season and audits.

After you’ve categorized your paperwork and divided it into years, be sure to check and eliminate old files in accordance with the guidelines for legal retention. You should also backup your files frequently to avoid the possibility of losing important data. If you’re sharing files with coworkers, consider the use of document management software to streamline your entire process.

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