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Organizing Your Bills and Records

 

If you find your home jumbled with piles of documents and financial statements but you just couldn’t throw them away, then it’s probably time to de-clutter.  What bills, receipts and slips should you keep and how long should you keep them? Read on for some handy tips!

 

Credit card receipts

 

Keep receipts until your monthly statement arrives. Keep a receipt only if a disagreement occurs.

 

Utility billing statements, credit card statements

 

Keep them for a year and keep the proof of payments for each bill as well. To avoid missing out on your monthly payments, compile statements according to due date. Mark out those that have been paid.

 

Income tax returns

 

Keep them for 6 years or more. Keep in mind that you can be audited by the Bureau of Internal Revenue after you filed a tax return.

 

Medical records

 

You can keep annual physical exam results for a year. But for records pertaining to serious illnesses or chronic diseases, keep them for life.

 

Job contract

 

Keep them for the duration of the job.

 

Warranty cards

 

Keep for the period of the warranty.

 

Various records and receipts

 

For marriage license, divorce/annulment papers, birth/death certificate, insurance claims, proof of ownership, and school record, keep them for life.

 

Delivery food menus, catalogues, flyers

 

These are the most unnecessary pieces of paper that we get almost every day. If you need to get the numbers, list them down on your phonebook and throw away these insignificant piles of paper.

 

Organizing isn’t really difficult. You will feel a sense of achievement after de-cluttering your home. Keep your records organized and make your home (and life) less chaotic!

 

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