Editor's Note: Navigate your finances, not to mention your life, in your 20s can feel overwhelming ... but it was not to be. Follow our blogger Abby as it appears in all its new series "Adulting: I can not even ... and you too!"
I'll admit it: Now that I'm closer to 30 than 20, I got my swagger adult pass.
during the first half of my twenties, I paid my car, I adopted a dog, and, with the help of a friend, my first artsy place was featured on the ship mother of all tenants blogs: Apartment Therapy.
yeaaaaah! What's up, adulthood! I am that!
But between adult stuff as contributing to my retirement savings and is care on the difference between soluble and insoluble fiber (link for the lazy) I realized I had a problem. .
A paperwork problem
To clarify: I'm not a slob. I zap the dust bunnies and dirty dishes like nobody's business. But when I find an old car insurance card six years ago ... Well, that looks terribly formal. I might need it later. So off he goes to the back of the glove, as well as receiving an oil change there are 75,000 miles. (Better to have piled somewhere than not have it if I have to, right?)
Friends, I need an intervention so I did some research and here is what I found . (You're welcome.)
#Adulting: The Ultimate Guide to Organizing Your Paperwork Important
First things first:
- Invest in a good shredder. identity thieves have been known to sift through the waste ( Gross ) to find pieces of your personal information discarded. Shred all documents containing personal information in them so they do not get the chance.
- Invest in a sturdy safe. At the other end of the spectrum, there are folders you want to keep forever, so buy something solid to keep them protected against theft, water or fire damage. Also keep an inventory of what is out there, and see once a year.
- Establish a system of trust, and stick to it. What good is an organization binge if the documents are simply stacked in a week because you do not know where to put them? Find what works for you a bill box, file cabinet, desk drawer and stick to it. (I'm a believer in the Getting Things Done method.)
- Remember to go digital. Consider receive your bills and statements electronically to reduce paper pile-up. Bonus: Many owner and correspondence catalogs manuals are available online, so do not feel too bad to throw them.
- Get the organization Your financial paperwork can be divided into two categories :.
- short-term storage For these documents you need to go quite regularly, so keep them in a binder file, drawer or accordion. This includes things that you keep for a year or less (such as your insurance policies) and other things that you shred when you get rid of the item it refers to (think big purchases, like a car or laptop).
- Deep storage is for the things you need to access less often, but should always keep. These things are better in a safe deposit or fireproof box. They include tax records (save for seven years) and official documents (such as your birth certificate and social security card).
Keep this stuff for a year or less:
- records of the bank as checking your statements and monthly savings. If you reconcile your deposit and ATM receipts with your return, you can shred them right after.
- credit card bills. Once you paid 'em, tear' em. An exception is when you need a record to support a charitable donation, you deduct on your taxes.
- Documents you need for your tax back. There are many different forms and documents that may or may not apply to you. Here is a list of TurboTax.
- insurance policies. Shred the policy of the previous year when your agent sends you a new one. (While we're chatting, make sure to schedule an annual review with your agent to make sure you are well covered and get all the discounts you are entitled to.)
- annual investment returns. Shred monthly and quarterly statements from your 401 (k) or IRA, but keep those annual until you sell the investment.
- Pay stubs. Keep these until you reconcile .. with your W-2
- most annual revenue Realistically revenue: If you are not currently use them to track your expenses or to reconcile your statement, you can plant them right away. But if you plan to return a purchase or itemize tax deductions, it helps to keep them all together in a folder.
Keep this stuff in the folder (but consider once a year to update):
- wholesale Paperwork purchases such as furniture, electronics or appliances. This includes guarantees, receipts and instruction manuals.
- loan documents. Shred closing documents for the mortgage, car, student and other loans when you pay them. (Hooray! No more loan.)
- savings bonds. Save them until you cash them or convert them to electronic format.
- vehicle records. Wait revenue, titles, registration information, and maintenance records and repair for as long as you own the vehicle.
- Notice (s) of personal health for you, your spouse, your children yes, even your pets. Keep a list of important events and information on the medical history of each person, such as vaccinations, medications, surgeries and lab reports / X-ray. Start with the American Health Checklist Information Management Association
Do not even think to throw these things.
- birth certificates
- death certificates
- marriage licenses
- divorce decrees
- social security cards
- military service files
- Documents Pension-scheme both your current and former employers
- estate planning documents, such as wills, trusts and proxies
- life insurance policies. Insider tip: It is best to keep copies in at least two locations to ensure that your beneficiaries will find them. Read the rest of the Insurance Information Institute. Lost your policy? Fortunately, there are steps you can take to find a lost life insurance policy.
Knowing the basics of what to keep and what to shred gave me peace of mind now that my personal information is under control. I'll be the first to admit I'm no expert, but my system works for myself if not perfect Pinterest. (On that note: Who honestly has a fully dedicated to chic bathroom, color workbooks They sleep!) _____________________________________________________________________________
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