If you’re like me you keep every receipt for every transaction on all of your plastic throughout the year. Wait, does anyone else do that? (I know, I’m a little Type A, you don’t need to tell me.)
I separate all of my receipts into two plastic folios: one for my debit card and one for my credit card.
At the end of every year I take everything (receipts and bank statements) out of the folios, organize by month, and file away in a box.
This is a lot of stuff to keep. A lot of paper to be specific. Ahhh!
So this year I thought I’d cut the clutter and really sort out what I need to keep and what I can toss. I found some great advice online (thanks LifeHack and Oprah!) but ultimately came up with my own system I thought I’d share. Here goes.
Domestocrat’s Receipt Rules
Keep Receipts For: Anything returnable (clothes, appliances, electronics, etc.), banking transaction receipts, anything medical (including Rx receipts), gifts, really expensive items of any kind, gym membership, car repair/service, parking tickets, reimbursements, and anything someone else owes you money for.
Recycle/Shred/Toss Receipts For: Gas, everyday items (Target, etc.), food/groceries/meals out, events/shows/tickets gone by, and any clothing item that’s been well worn, thrown out, or donated already.
Sticking to these “rules” dramatically reduced the amount of paper receipts I saved from 2011. Where I would normally have a whole box of receipts for one year, I only had one 8×10 paper envelope for 2011. Yippee!
How do you keep your receipts/finances organized? Do you organize them at the end of the year at all?
Good tips for average receipt hoarders, but I’m a freelance photographer, so I keep the receipts for gas. :) You are so organized…I am currenly avoiding eye contact with my receipt filer…it’s bright pink, so it is challenging!
Ooooh, good luck! :)
Wow… I do everything electronically. I keep virtually no paper.
I’m getting there!
I tend not to keep my receipts unless it’s for a large item. If I wear a piece of clothing and wash it – I’ll shred the receipt. I also keep my bank statements on-line and can pull them if needed. As for taxes, I get some statements in the mail and I print the rest of what I need on-line. Easy!
What I’m trying to do too. Good points!