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The Gift of Getting Organized

Organizing your financial records is one of the best gifts you can give your family. By setting up a workable system and telling family members about it will ensure they know how to pick up the pieces should there be a crisis or death.

Getting organized doesn’t mean finding a place for everything. It means knowing what to keep and for how long, where to store documents, and when to shred outdated statements.

Consider these tips to get started:

  1. Eliminate waste. Toss items you don’t need, such as receipts for small purchases or groceries, or records on autos you no longer need. To prevent identity theft, shred documents with Social Security numbers or account numbers. Consider software organization tools, or going paperless. Sign up for online credit union and brokerage statements.
  2. File it. Set up a simple filing system that anyone can follow, separating active from inactive files.
  3. Protect it. Get a safe deposit box for anything that would be difficult to replace if destroyed, such as birth and marriage certificates, titles, household inventory, investment certificates, and military records.
  4. Establish a routine. Open and sort mail daily. Arrange bills so you can pay them about the same time each month. Every year or so, weed your files.

Copyright 2017 Credit Union National Association Inc. Information subject to change without notice. For use with members of a single credit union. All other rights reserved.

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