I keep every receipt (utilities, grocery, medical, etc.) in a plain legal sized envelop labeled for the month (Example: Jan 09) until the end of the year. I keep them in a drawer with my bank statements.
At the end of the year, you will have 12 legal envelopes the same size as your 12 bank statements. I bundle them with rubber bands. I begin a new check register each January 1, and stop with Dec. 31. I put the check register with the bundled envelopes.
At the end of the year I store them in plastic totes. On the envelope I will write whether there are important receipts for items which could possibly need to be exchanged like a new appliance.
I have done this for over 20 years.
By Jeanne from Elysian Fields, TX
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I do the same thing, I have receipts from years past. My daughter laughs at me but if I need one a few months down the road I just go to that year and month and it's usually there.
AWESOME IDEA!! I have tried for so long to organize and this looks like the perfect solution for me. Thank you, Thank you, Thank you.
This is a brilliant idea. So easy and organized and I never thought of it. Thanks so much for such a simple, inexpensive solution!
I do something similar, but only for the last 2 years, and once long ago for some months.
I can't stress enough how useful this is on so many levels.
I have also done this for years but a friend recently questioned why I hold on to paid bills and I honestly don't have a good answer. I really haven't had to dispute a bill in years.
Unfortunately, you may need those bills, in the future. I had a problem with our mortgage payment a long time ago, and they were trying to make us pay bills that were paid, I knew they were, I have them all written down in a spiral notebook. They said they didn't have the proof, I did and told them so. They tried to make me pay the disputed payments, and I went to the bank to get copies of the checks, the cashier told me to make them prove that I owe them.
I did this for several years, and ended up with too many accordion files of receipts to store efficiently. I'd be curious to know how the OP manages the accumulated bulk of all her receipts.
I've been doing this for several years. Each month I save every receipt for that month and put it in a large Manila envelope. At the end of that month; I remove all receipts for groceries, pet food, etc, and toss them (I only keep them to help balance my checkbook during the month.) I only keep receipts for tax purposes, proof of appliance purposes, etc. anything I might need down the road.
I keep as little paperwork/receipts as I can get away with. I do keep receipts for items that I think there could be a possibility I may need to return. When I pay utilities I keep that bill and shred the previous month. But the envelope idea for a month is a good idea that I will use. I think it will easier than dragging out the file and putting them in there. I don't think I've ever needed a utility bill that I've shredded.
Reading the original idea blew my mind! As someone else said, I've been looking for something forever & I can't believe I never thot of this!!! Brillent!!! There were a couple other comments that brought up some good questions;& might have to think on them. But overall, FABULOUS!!!
I don't keep ANY of this paperwork. When I pay a utility I shred the last one and keep the newest one. The only receipts I keep are for things I think there may be a chance I'd need to return an item. If I ever need a copy of a utility bill or bank statement I can go to their website and print a copy. When my Mother passed and I alone was responsible for cleaning our her place I vowed I'd never put that off on my kids.
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