Tip # 318: Keep all your receipts for at least 3 months.
Or even a year if you can take it! This may sound like common sense to many of you, but i'm willing to bet that you or a neighbor don't listen ;)I didn't either until 4 years ago when all i needed was one freakin' tiny piece of paper that could have saved me a good $200. i never found it, and i never got my money. in fact, i tear up just thinking about it....bleh.
So what's the easiest way? I like the ol' shoebox method:
- Find a shoebox.
- Find a sharpy.
- Scribble "2008" on the top.
- Place every receipt from 2008 into it.
- When it gets filled, either throw them all away (minus the huge purchases), or if you're a storage nazi, stash the box away and repeat the process.
- Bask in your organized glory!
This works for warranties too. I keep a box (and sometimes a drawer, safe, or filing cabinet when room permits) for all "important files" such as warranties and other records you normally forget about or accidently throw away. No more worrying for me!
It really doesn't matter where you keep them though - as long as you HAVE them and know WHERE they are, you're all good!
Labels: advice
posted by J. Money at
10:44 AM
13 Comments:
I used to do this (the shoebox method) religiously years ago. Then somehow... I fell out of the habit. And yeah, the last couple of months I have had a few times when I could have used my receipts. Thanks for the reminder!
Hey - I use the Nike shoe box method as well.
It's perfect for me, I also use envelopes marked by the month to try to organize it a little further.
Works like a charm!
yeah, i've heard that the envelope style method works pretty well actually, i know a few bloggers that actually doing that :) it's a little too much for me (isn't that bad? haha...), but you gotta stick with what works!
And i hear ya dawn, it's so easy to slip...my drawers system has been working for a few years now, but i DO catch myself start throwing new receipts in other places when they fill up ;) the hardest part for me is going through them every now and then and getting rid of the oldies...sometimes i cheat and just dump the whole drawer, but usually those receipts were from like a year ago and on.
I have been on that shoebox method for quite some time now, anything valuable I do not want to lose goes in there. I stacked some cash in there (I later spent it), old photos, receipts i use for tuition reimbursement, and other little tid bits. It might be the best place to put your money these days since you wont lose any of it!
I use envelopes and a big box. Whenever a new month starts I start a new envelope and keep them all in one box. Granted its not perfect but I also track my spending using excel. The combination helps me know where I can find what receipt fairly quickly. I wouldn't keep them for long if it wasn't for tax purposes.
'k, so what does one *do* with this piled-up ball of receipts for the flotsam and jetsam of life? The shoebox certainly keeps 'em in one place, but -- for what use?
Ya gotta keep those bad boys in case you ever need to prove a transaction! It doesn't happen often, but when it does having that receipt to show proof of an amount charged comes in handy...
take, for example, a night out at a bar where you tipped $5 bucks on a tab, however you were ACTUALLY charged $15 or $25 instead by an a-hole adding an extra number in front! that receipt is the only way you can prove your side sometimes...esp. if you were too drunk (ghasp!) to remember ;)
I used to to do the envelopes in a show box as well. What happened.....
Thanks for the reminder!
We put everything on the credit card (except our $15 allowance each week) and pay off the card each month. When we get our monthly bill, we check our recipts against it and staple the receipts to the bill. After a year we throw out the statements and receipts. This helps to make sure a store doesn't accidentally double charge (which has happened before)
You should really be shredding old receipts rather than just throwing them out. I read somewhere that all someone needs is one debit card recepit to committ ID fraud. I don't know if that's entirely true or not, but I don't like the idea of just chucking stuff with such personal information on them into the trash. Plus, shredding is so satisfying...
I do this too!
But I use one of those big manilla envelopes instead...
It's definitely worth the effort-- for the past 2 years I have had my tax claims "reviewed" and have had to produce a number of receipts and proof. Glad I kept everything important in a central location!
Good idea. Simple and easy to use. The thing is that it is easy to get into the habit of hoarding receipts. Next thin you know you have a wardrobe stacked high with ten years worth of receipts.
Oh yeah, that can def. become an issue! Lucky for me i end up just scrapping it all every year or so...i hate clutter.
But this time i'll do the shredding thing! Thx Frugal for the reminder :)
@growing believer - that's hardcore! haha...man, i wish i had the patience for that. i throw everything i can on the c/c as well, but i check all my accounts every morning so i see ASAP when something is awry.
@Ginger - wow, 2 years in a row? the odds of that! hasn't happened to me *yet*, but i'd like to think i'll be prepared.
@Dolly Iris - i hope you get back into the habit :)
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