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Paper Management Hacks: Financial Records

Some financial records may seem obvious to you: your tax records for your business. Others may not be top of mind until you need them and realize you don’t have them at your fingertips.

This week, we’re looking at paper management hacks and what sorts of paperwork you need to keep at the ready in the event of an emergency.

Read More: Managing all of that household paper

Here is a list* of some financial records you might want to keep handy:

  • Accountant
  • Bank statements (it’s up to you whether to keep a paper copy of these, if they’re also available online)
  • Bills to pay (paper and digital)
  • Closing paperwork on your house
  • Credit card statements
  • Financial statements
  • Investment records
  • Loan agreements and payment books 
  • Mortgage papers
  • Pay stubs
  • Pension plan records
  • Property records
  • Receipts to things you own (car, appliances, furniture)
  • Receipts for household items (repairs, improvements)
  • Social Security
  • Tax records and receipts for personal and business
  • Tax returns
  • Warranties and service contracts

*list courtesy Julie Morganstern from Organizing from the Inside Out

Read More: Paper Management Hacks: Vital Records

How long should you keep these items?

In the case of things like your car or a fridge, keep them only for the time you own them.

In other cases, you will need to talk to your financial adviser, accountant, see the IRS guidelines for taxes, and more to be sure how long you should keep your paperwork.

Remember, if you had 10 minutes to evacuate your home, could you get your hands on all these documents and go?

Dawn Dugle is a professional organizer and a time management expert.

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