MineZone Wiki

Keeping Organized

What do do with receipts

"What works for me is a cardboard envelope that has sections for each month in a year. You can purchase one at most office supply or stationery stores. I think I actually picked mine up at Wal-Mart for about $5. The envelope is about 5" x 10" with a flap and a piece of elastic to secure it closed. After I have registered the receipt into my checkbook (I use a computer checkbook, but the same would apply for paper) I stick the receipt in the applicable section for that month. I only keep receipts I need to verify a purchase (like for warranties or tax purposes). I always toss grocery store and fast food receipts - things I won't need again. I write the year on the front of the envelope. I also write the date of a purchase on warranty cards so I can find the receipt quickly. A friend of mine started this system and staples the warranty cards to the receipt, where I prefer to keep the warranty card with the instructions/manual - whatever works best for you! I have been using the sectioned envelopes for several years. They are compact, organized, and easy to maintain - just keep it in a drawer wherever you do your bills. I hope you find this helpful!"

Declutter by throwing away (or put in a Goodwill pile) 10 things every day

What to Keep, and For How Long

I recommend holding on to utility and phone bills for a year, which will let you see if there's a spike in rates. Bank statements, W-2 forms and receipts for tax-deductible expenses should be on file for seven years, in case you're audited. (If you've got extremely complicated transactions, check with your accountant about keeping records even longer.) Keep bills for appliances and repairs indefinitely—when the time comes for a replacement or another repair, you'll know what you paid last time. You should also retain records of expensive purchases, such as antiques or artwork, in case they're ever stolen or you want to sell them.