The new year is the best time to organize your paper. It’s a fresh start and it’s time to review your existing system.  Lot of my clients ask me what to keep and for how long.  Clients are keeping papers in archive longer than before just because “life happens.”

 

At this time of year I like to do an annual archive session for files.  Not only does it open up space in your files, it keeps your files from being out of date and unused.  Your files are meant for reference and retrieval.  Your archive files are for long term storage.  Files are kept in file drawers, while archive files can be kept in plastic file totes (affiliate link Tax time) and stored in less accessible spots (such as the back of a closet or the attic.)  It’s easiest to archive by year, so January is a great time for this annual file organizing.

 

• Start with a plastic file box with hanging files.
• Remove papers from your files and clip together with a binder clip.
• Categories of papers to remove include:  credit card statements, utilities, and medical explanations of benefits.
• Place tax related papers in folder and label it TAXES 20XX.  Place it in an easy to access spot for later this month.
• Label the exterior of the bin with that year.
• If you find papers from previous years, create a box for each and label it with the previous year, one year per box. For tax purposes you want to go back 7 years. For other records, you can decide what works best for your needs.

 

Voila! Your files have space and you can start the new year ready to file!

 

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