Recipe for Receipts

Of course there are many different ways to deal with the deluge of receipts that continually fill up your wallet and pockets, what's the best way to organize them? That answer really is individual. When we work with a client who has "receipt clutter" we offer several suggestions, here's a few:

File them. The good old fashioned way of storing receipts-file them away. However, it's not necessary to save all receipts. Keep what you think you may need for returns, personal records or tax purposes - the rest can go. I use one main credit card and keep all the receipts in a convenient file. When the statement comes, I attach the receipts, pay the bill and file the statement with my monthly paid bills. I keep a file for each month, at year-end, they go into a bankers box and into long-term storage.

Stash them. You can also keep a convenient space inside a drawer to keep all of your current receipts. This way, when you empty your pockets/purse, there's a place to put them. Be careful to make sure you clean out this spot frequently or it will be another source of chaos.

Scan them. Here is a terrific system that allows you to easily scan any receipt and organize it into a file system with the software that's included. Check it out: http://bit.ly/4A1rhc

Toss them. When in doubt, throw it out. We don't need every receipt for every purchase. Depending on how well you itemize and budget your spending, you can keep either very detailed records, or none at all!