Do You Keep - Or Do You Throw?
June 21, 2006
Organizing your bills and documents can eat up so much time. Luckily, you can clean up clutter and reduce your stress with the following tips:
First of all, prepare an old file drawer or get several large envelopes. Classify them in three categories:
· Important documents for short-term purpose.
You only need your ATM withdrawal slips until you have subtracted the amount in your checkbook or bank account. The moment you have balanced your monthly bank statement, you throw away your ATM deposit receipts and withdrawal slips. After this you can place the bank statements in the Annual Folder, in case you need to refer to them in the future. This should include phone statements, service bills and credit card reports.
· Documents that you need in a year or so.
As every year ends, you get annual statements from your bank institution. You also acquire the papers that are essential for paying taxes. After you compare these documents against your monthly statements to be sure they are correct, dispose of your monthly statements and your paycheck stubs. Once you are finished doing your taxes, collect the supporting papers and keep them.
· Important documents that you need to keep for an indefinite period of time.
Documents used for calculating the capital gains on the sale of your home are kept for an indefinite period of time. These are proof of payment for home improvements and proof of payment for all large purchases. Others include: tax records and documentation of your retirement plan beneficiaries.
Guidelines for Trimming Down Clutter
1. If you are looking for something and you are unable to find it immediately, unclutter your area as soon as possible.
2. Ask your family to help you unclutter/arrang your home.
3. If you no longer see the table surface, it’s time to clean up your act!
4. Set up a particular area for the items that you use daily – place hooks to serve as key holders, a bin for magazines, etc.
5. Make it a habit to clean your living room before you go bed at night.
6. Be uncompromising in throwing out papers, such as newspapers and old mail.
7. Create a list of household essentials including their expiration date, so that you will know what you need and when you will need it.
9. Set a regular schedule in ridding the house of unnecessary objects such as dead batteries, dried-up pens and other garbage.
10. Do not be sentimental on things! Trash items if you are no longer using it.
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