Tip # 318: Keep all your receipts for at least 3 months.

by J. Money - Published September 16, 2008

receipt boxOr 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:

  1. Find a shoebox.
  2. Find a sharpy.
  3. Scribble “2008” on the top.
  4. Place every receipt from 2008 into it.
  5. 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.
  6. Bask in your organized glory!

That’s it! At least the lazy man’s version anyways ;) I’ve tried plenty of other methods before, but none got me to stick to it quite as nicely. I actually use a similiar version today – instead of shoeboxes though, i use drawers from a fancy pants piece of furniture i picked up a while ago but never knew what to do with. Each drawer is a year! haha…no one would ever tell by just looking at it.

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!


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PS: If you don't trust yourself with another credit card, ignore this! This strategy is to help you get out of debt quicker, not risk adding more to it.

Jay loves talking about money, experimenting, blasting hip-hop, and hanging out with his two beautiful boys. You can check out all of his online projects at jmoney.biz. Thanks for reading the blog!

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