are many good reasons to keep your financial
records as organized and accurate as you can. Good record
keeping provides 1) proof, such as payment of bills, ownership,
and employment or educational history; 2) data, for example, household
inventories as documentation for insurance claims; and 3) protection
for hard to replace documents. Besides knowing what types of records
to keep, where you keep them, and how long to keep them for, will
make life much simpler and less time consuming when you need to
locate something of importance.
good way to get started is to first set aside a work space designated
for your organizational activities. This is where you will organize
and process your bills to be paid and documents to be filed. To
accomplish this you may want to set up a file cabinet or drawer
in which to store your records. However you decide to organize
yourself, your system should:
user-friendly. In other words, it should be easy for you to
use and understand, but also for others to
understand in the event that something happens to you and someone
else needs to access your files.
the storage of your personal and financial records.
a list of other records stored in a different location.
emergency contact for relatives and those who know about your
personal and financial matters.
Revenue Service Publication 552
Your Financial Records and Personal Documents under Control?
Keep Track of Household Records
Guide to Record Keeping
Your Records in Order