Can I be honest? I am a recovering packrat.
I come from a long line of packrats. One of my cousins lived in Alaska. When he passed we found out he had multiple properties filled with different pieces of paper. He recorded everything and kept every single slip of paper. I could be just like him, but I have discovered the digital world. Since the military weighs our household goods, every piece of paper counts.
As an accredited financial counselor, I try to keep financial paperwork very organized. I have several categories for my paperwork. My system is based on how the government views paperwork.
The first is “Keep Safe Forever.” These I scan into my computer and protect them with a password. Then, I place the originals in a locked fireproof box that travels with me during PCS. These include birth certificates, adoption paperwork, marriage licenses, death certificates, wills, records of paid mortgages, passports, and social security cards.
The next category is “Keep While Active.” This includes home improvement records, property and property tax records, pension and retirement plan records, stock certificates and records, insurance documents, records of satisfied loans, and contracts. These are also kept the same way as “Keep Safe Forever.” They should be reviewed yearly to see if they are still active; you might have sold the stock or property. Additionally, this category includes warranties. I try to keep a spreadsheet with our items that come with a warranty.
My warranty spreadsheet includes the name of the item, the place it was purchased, the date of purchase, any serial number, the website for the warranty, and any other pertinent information. I have added a column recently about batteries to help me know what type of battery I will need for the remote or the item because it never fails that I have every kind of battery except the right one when we need it. But do I look at my battery stash to check?
“Keep Three Years” is the next category. This includes tax returns (but I usually keep these digitally for longer), medical bills, records of selling a house or stock, and any receipts related to taxes. As a packrat, I keep these for ten years in a digital form. I do not keep them physically for more than three years.
The last category is “Keep for One Year.” These are things like utility bills which I compare with previous years to see if there is a change that may mean we may need to have service on a system. I keep quarterly investment statements until I receive the annual. Let me be honest I have a large hard drive, so I still keep them but when they were paper, I would shred them when I received the annual. Bank statements and credit card statements I keep digitally, especially those that document large purchases.
I download every LES (Leave & Earning Statement). My husband checks them each month to make sure they are correct.
Help this packrat give up a few things…tell me your secrets. What do you keep? What systems help you minimize paper files?
