What kind of receipt, documents do you keep and how to organize them?

What kind of receipt, documents do you keep and how to organize them?

I have bills from City Utility, Auto and Home owner insurance (both bills and info, etc), Electric Bills, Tax record, etc, etc, etc.I do keep them in folders, but I start to think what'-s the point of keeping them since I do not use them except started to pile up on folder / space, etc, etc. I was wondering what do you guys do to organize them or if you guys are keeping all of them as record? if so, why?


Utility bills, and House insurance, you needn't keep unless they'rea 'business expense'. (Home office etc.).You might retain the last bill until the next arrives.Same for automobile expenses, (do you have 'business mileage'?)Tax records DO keep, as well as Medical Insurance, (deductable),pay stubs, (compare with 1099s), and any large purchase receipts,(auto etc.), for possible deductions.You do keep bank statements etc. for at least the year.(I use a loose leaf, it's better than a folder, they stay in order that way.)Then put the old year in a big envelope after 'tax time',and save at least five years.BTW: It's a good idea to shread bills with account information.(They can be an 'identity theft' risk.)


I separate by category. House payments, appliances (for warranty use), all power company bills etc. I check some of the files once a year to see if they are still useful.



Popular Q&A

What countries have gender equality for auto insurance rates?
There are some provinces of Canada that have crown corporations that provide mandatory coverage. These crown corporations are not allowed to use gender in determining rates. However that is in a few provinces, and not something that is practiced nation wide. Gender as a rating factor has been...

How good is USAA auto insurance?
USAA is an incredible company for Auto Insurance, as well as banking, life insurance, and home/rental insurance.Personally, I have Auto / Credit Card / Life Insurance / Rental Insurance all through USAA.When I was involved in a car accident a few years ago, it took only one call to get everything...

What courses do you need to take to become an auto insurance agent in California?
Do you want to be able to sell insurance BESIDES auto? If so, you need the 40 hour class. For auto only, the 20 hour class.

The Gungrabbers have a plan B. Blackmail, the Chicago way....?
This news had not shocked me. These tactics are not unlike what you see in small town politics - and like small town politics, this could have terrible reprocussians for the people doing it. Gun owners - with possible exception of car owners - are one of the top largest group of people in...