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April 25, 2011
Spring Cleaning for Your Finances

Is disorganization costing you? Find out smart, simple tricks that will make financial record keeping a breeze.

Transcript

Being disorganized is not only time-consuming, it’s expensive. This spring, organize your financial paperwork in categories that make sense for you.

For example, keep all tax-related documents together in one file. Gather receipts for potentially tax-deductible items like medical receipts, job-search expenses and charitable contributions. Also collect pay stubs, past tax returns, property taxes, and statements showing interest and dividend income. As monthly bills come in, keep them together until paid, then file by category —such as utilities, insurance, mortgage, credit cards, and so on.

Bottom line: Once you’re organized, set aside a dedicated time each week to file incoming paperwork and pay bills. You’ll save a lot more time and money in the long run.

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