Managing the added expenses involved with reopening your church
A: An essential part of managing your personal finances is keeping your financial records organized. Whether it’s a utility bill to show proof of residency or a Social Security card for wage reporting purposes, there may be times when you need to locate a financial record or document with relative ease.
If you tend to keep papers because you “might need it someday,” your desk or home office is probably overflowing with nonessential documents. One of the first steps in determining what records to keep is to ask yourself, “Why do I need to keep this? Is this record vital?”
Documents you should keep are likely to be those that are difficult to obtain or replicate, such as:
On the other hand, if you have documents and records that are easily obtained online, such as bank statements and credit-card statements, you probably do not need to keep paper copies of the same information and you may want to shred them.
To be continued in our next blog post.Back to Financial Resource Center
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