Personal Money Management Tips in Three Hours or Less
Follow these four steps to take control of your financial life in just a few hours.
Cut the Clutter
Invest a few hours in getting rid of the financial detritus that’s filling your filing cabinet, and you’ll take a psychic load off your shoulders, says therapist Debbie Stanley, author of Organize Your Home in No Time ($17, amazon.com).
The Only Stuff You Need to Keep
Document: Tax returns
How long to keep: Forever
Document: Tax backup (receipts, W-2s, statements, etc.)
How long to keep: Six years (the IRS has up to this amount of time to audit returns)
Document: Year-end investment statements
How long to keep: Until six years after you sell, for proof of gains and losses for taxes
Document: Pay stubs
How long to keep: Until you get your W-2 in January
Document: Receipts for home improvements
How long to keep: Until six years after you sell the home, for tax purposes
Document: Receipts for big-ticket purchases
How long to keep: As long as you own the item, for warranty and insurance claims
Most Popular Galleries
When it comes to the do’s and don’ts, you’ve got lots of questions. Here, solutions for making the season merry and bright.