I used 5 separate 3-ring binders:
- Identity: Passports and Social security cards
- Certificates: Birth, Marriage and Citizenship Papers
- Work and Education: Degrees, Certifications, Letters of Recommendation, and leave paperwork.
- Tax returns filed by years (You need to keep at least 5 years of personal taxes, 7 for business)
- Tax deductible sections- medical, donations, childcare
- Life Insurance
- Car Insurance
- Home/ Content
- Medical (The most stressful area of my life, if you remember from my post yesterday)
- Cover Page listing all credit cards and numbers, and a page listing bank accounts and numbers.
- Investments (this is empty, but I plan on investing in SOMEthing other than shoes this year!)
- Quick Reference: This includes pages for important numbers like SS, Drivers license, Doctors, Billers numbers. etc
- To do: Items that need to be addressed immediately, to do lists of things around the house that need fixing/replacement/etc, things to send
- Ideas and Inspiration: Areas for recipes to try, projects to make, general goals, etc
Some other interesting things I encountered regarding finances is that unpaid medical bills DO affect your credit, so don't let anyone tell you they don't. Also be sure to go to the Social security Website and use their calculator to determine how much SS you will get when you retire. It will be a shocking wake up call, as you will probably be unable to even afford a place to live. for instance, if you make $30,000 a year and are paying in to SS for 30 years, you would be paid out the equivalent of today's $800 a month. Who could survive as a family on that? Especially if you only have one person paying in! It's scary so make sure you have a plan. I'm calling someone NOW to schedule an appointment regarding retirement.
So hopefully all this will help me stay on track of everything this year...starting with sorting out the insurance and retirement messes!
Love and colored post-its,
Kerry, the Momster