Saving Time and Money

Do you feel like the Energizer Bunny, going, going, going? If you want to give yourself a break, we have some tips for finding a little control. It all starts with some organization that doesn't take very much time to attain.

Organize Your Life

Shopping
Get your shopping organized. When it comes to food, keep a generic list in your pantry. That way, when you run out of something, any member of your family can check it off on the list as something you need more of.

Errands
Set a time during the week aside for your errands. For example, each Monday you could go to the bank to make deposits or withdrawals, then stop by the drycleaner's, then get your grocery shopping finished. If you have a routine, you not only save time running back and forth to your house, but you also save money by not wasting gasoline.

Consider Delivery Services
You can whittle down your work by trying a shopping service. The important thing is to try it once, compare the cost so you know what you're spending, what you're saving, and evaluate whether it's worth the time you saved. It might make sense to have things like medications delivered to your door if it's a nominal delivery fee.

Organize Your Cleaning
If you spend hours each day cleaning up messes, try designating a place for everything. If you assign a place for bookbags, purses, shoes and toys, it's more likely they'll end up where you want them, instead of strewn around the house.

Is your lack of organization costing you? Have you ever paid a bill late because you simply couldn't find it? Or, are your files so full, they're bulging at the seams? If so, it may be time to get your financial house in order. The first step is deciding what stays and what goes.

Organize Your Stuff

Throw away.

You can generally throw away anything you don't need for tax purposes. This includes:

>>Bills.

You can throw away utility, phone, cable, and credit card bills once you've looked them over, paid them and have proof the payment was received by the company (i.e.: cancelled check). However, if there's a dispute or if you're planning on taking a tax deduction, keep the corresponding receipt.

>>Expired warranties.

Once a warranty has expired, get rid of it.

>>Junk mail.

Once you go through the mail, don't keep anything that you don't need. It will just collect dust.

>>Receipts.

You can throw away most receipts immediately. However, there are some exceptions:

Hold onto your ATM receipts until you look over your bank statement.

Hold onto credit card receipts until you look over your credit card statements.

If you buy a major appliance or an electronic device, hold onto the receipt until you're sure the product is working.

Don't get rid of any receipts for items you plan to deduct on your tax return.

Keep 3-7 years

Hold onto the following items for at least three years, and as long as seven if you want to be extra safe. They are generally documents that are tax deductible or generate possible taxable income.

>>Cancelled checks.

>>Past tax returns.

>>Pay stubs.

>>Records of charitable contributions.

>>Receipts for medical expenses.

>>Receipts for major repairs or renovations.

Keep until you sell.

>>Brokerage statements until you sell the stocks

>>Insurance policies.

>>Real estate records.

>>Terms and conditions for other loans, like a mortgage or car loan.

Get Organized

Once you've sorted through your documents, it's time to put them away. Professional organizer, Joan Kizver suggests making a "home" for your documents. If you keep them all in one place, they won't get lost.

File.

Purchase a filing cabinet or an inexpensive plastic bin to start a filing system for your documents. Make dividers that fit your needs. For example, if you own a handful of stocks, make an investment section. Or, if you have more than one type of insurance, make an insurance section. Don't forget to store these documents in a dry and safe place.

Fireproof.

Make sure to keep important documents like your will or birth certificate in a fireproof box.

Safe deposit box.

Not all your documents need to be in your home financial center. If you have items that are difficult to replace, you may want to open a safe deposit box at your bank. However, keep in mind, you may want to find another location for items you may need in an emergency, like a will or passport. Banks are generally closed at night, on weekends, and holidays.

Did You Know?

Nearly 38% of all paper is recycled. Paper fibers can be recycled several times before they become too weak and must be discarded.
The Association of Science-Technology Centers Incorporated

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