Organize This! Understand Before You Reprimand

By Stephanie Calahan (Calahan Solutions, Inc)

Do you have family members that are just not following the routine?  Maybe you have put organizing systems into place and you seem to be the only one that is trying to keep it organized?  You are not alone.  But, before you get too frustrated, listen to this story and see if it can help your situation.

A few years ago, I asked my son (who at the time was 7) to pick up his room and organize his desk. I had been teaching him organizing and “picking up” strategies since he was young, so I was not worried that the job would get done.  When I went into his room, his toys were all over his desk! I was frustrated. He had been instructed to put his toys away and instead I saw them all over his desk so random.

A long time ago, I promised myself that I would understand first. So, I held my irritation and asked him:

"David, we talked about organizing your desk. Can you please explain to me what organizing you have done?"

"Mom!" he exclaimed, "I did all KINDS of organizing."

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Organize This! Managing Piles of Paper - What to Keep and What to Let Go

By Stephanie Calahan (Calahan Solutions, Inc)

Is paperwork taking over your life? Are you keeping every single bill, tax return, insurance invoice, medical documentation, contract and even the 15-year-old warranty for the water bed that you sold at the yard sale ten years ago? If you answered "yes," you are not alone. Many people are not sure how long financial records retention should last, especially tax records.  Determining what to keep and what to toss is often a difficult decision for homeowners.

Some documents and records need to be kept indefinitely but, many can be discarded after a prescribed period. Here are some general rules to follow on how long you should keep various records.  Please note there are personal instances where documentation is required to be kept longer than our guidelines suggest.  Check with your financial or tax advisor if you have questions.

How Long Do I Keep It?

If you would like a handy guide to remind you of what to keep and what to let go, check out How Long Should You Keep Papers in Your Home - Ideas for 76 Kinds of Residential Paperwork. I created this special report to help me figure out how long I should keep various types of information and have found that my clients love it too.

To get you started, here are a few rules of thumb:

Tax Returns and Backup Documentation: Whether personal or business, the general rule is seven years. This may seem like a long time to hold onto these papers, but think of it as an annual cleaning out as new returns are filed. One in … one out and the old adage of "better safe than sorry" will apply. The IRS has three years to audit you from the date you file your taxes; however, they have seven years to clear up and correct so called "Discrepancies."

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