If you use these suggested home file categories, it won’t be hard to set up a filing system at home to keep your papers in order. Use this list to make sure you have set up all the files you need.
There are different sizes of file folders, so choose carefully. The sizes of Letter and Legal file folders are not the same as the sizes of Letter and Legal paper. Most likely, you’ll need letter-sized files for your home office.
Keep this in mind as you shop for a locked filing cabinet for your home. Even though many cabinets have this feature, it might not be a good idea to use it at home. What kinds of papers are you going to store there? Should these papers be kept in a safe place? Before you buy a filing cabinet with locks, make sure that all of the drawers can be locked.
A home filing system will not only keep your important papers safe, but it will also make your life as a mom a LOT easier because you will always be able to find what you need.
Even if you want your files to look great, you should start with a simple file system and add features as you go. This first article explains a very important part of SORT and Succeed: The shape is more important than how it works. Step 3: Make it work, and Step 4: Make it better.
This article is for you if you’ve ever wondered what the basic filing categories are. I’ve been giving a one-hour class on home filing and paper management to low-income people for more than ten years. When classes were held in person, a lot of students met in the same room to learn how to customize a file system, manage file folders and labels, and set up a simple home filing system. Even though we do everything through Zoom now, it’s still easy enough to finish in an hour. Setting up a home file system doesn’t get much easier than this.
Oh, what awful paperwork! Don’t you think it’s getting worse? And if you know what to save and what files to make, you might feel more in charge and organized. Over the years, we’ve gotten so many questions about this that we’ve made a list of “core” files and papers that every home should have. Please see your accountant or financial advisor to make sure you are keeping all the necessary records. They will be the ones who know the most about the criteria.
How long must I keep my records?
If you file a claim for a credit or refund after filing your return, keep records for three years from the date you filed your first return or two years from the date you paid the tax, whichever comes first. Keep records for seven years if you want to get a tax break for bad debts or a loss from securities that are no longer worth anything.
How can an easy-to-use file system be made?
Before you organize your documents and files, try these tips for making them easier to understand: Put everything in one big pile. If everything won’t fit in one pile, make more, but think of them as extensions of the first. Remove any folders that are out of order and put them on top.
What kind of file system is used the most?
The alphabetical file is the most commonly used sort of filing system. Each letter of the alphabet has its own alphabetically organized file guide. In a numeric file, records are grouped by number instead of by name.
What are the most popular ways to file?
When there are fewer than 5,000 records, the most common way to organize them is by letter. When you “file by alphabetic order,” you put papers in the order they appear in the dictionary, based on the names of people, businesses, organizations, and places.
What papers do you need to keep for 7 years?
TIME TO KEEP: 3–7 YEARS Keeping this in mind, it’s a good idea to keep for three to seven years any document that backs up information on your tax return, such as Forms W-2 and 1099, bank and brokerage records, receipts for tuition payments and receipts for donations to charities.
Should I keep my old bank statements?
How long you should keep your bank and credit card statements depends on a lot of different things. Most of the time, you should keep them until you’ve filed your taxes for the year and dealt with any fraud issues, but in the long run, it may be better to keep them for longer.
How long do I need to keep old bills?
Tax returns and other paperwork should be kept for at least seven years. The IRS can choose to audit you three years after you file, or six years after that if it thinks you didn’t report at least 25% of your income.
Where should you keep cash in your home?
Vastu Shastra says that one of the best ways to keep your finances stable is to grow your fortune in the soil corner of your home, which is the southwest. Keep your jewelry, money, and important financial documents in a safe or cabinet that faces south-west.
How do you take care of important papers?
Documents on paper should be kept somewhere safe. Titles, wills, insurance policies, birth and marriage certificates, and other significant papers should all be placed in a fireproof safe or safe deposit box. Madison says to make digital copies of the safe’s contents and hide them “somewhere no one can see” in case someone breaks in.
Why is it important to have the right folder structure?
Don’t give folders names that are too long or already used. Organizing folders so that they compete with each other is not a good idea. Make directories with as few duplicate categories as you can. Instead, you should make a lot of folders and use nesting to put them in the right order.
What makes a file different from a folder?
All programs and data on a computer are “written” into and “read” from files, which are the main way a computer stores information. A folder can have one or more files in it. It can be empty until it is full. There can be more than one level of folders inside a folder, and a folder can have other folders inside it.