Thursday, January 22, 2009

HMAH Tip #4 - What Do I Do With All These Receipts?

Starbucks $8 Target $35 Exxon $25

What if . . . I need to return that shirt I bought last Thursday because it doesn't fit? Where did I put the receipt???

There is a really easy way to find any receipt or bill in under 5 minutes.

All you need it a 13 pocket accordian file that is easily for sale at any office supply store or almost any department store. Once you purchase the accordian file label the sections January - December and the last pocket is for taxes or medical forms. Now the easy part, take each receipt write the amount in your checkbook and than file it under that month in your file. Done!

This also works with bills. As you pay them, put the bill (minus the payment slip you send with the check) in the appropriate month.

Another benefit of keeping your receipts and bills organized this way is to help you at tax time. You can use the last pocket for all your donation receipts, w2, 1099 forms, etc. If you put these forms in the pocket as you receive them, they will all be in one place when tax time comes.

Now, whenever you need to find a receipt or bill all you need to do is look under the month you made the purchase.

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