Organizing Paper Clutter

Most of us are drowning in paper these days. It doesn’t seem to ever stop; mail, school papers, magazines. If you don’t have a good way to manage and maintain it, it will just keep piling up. To help keep a handle on your papers, you will need to set up a paper management system. A paper management system is more than just a filing system. It is a system for you to receive, process, act-on, and store paperwork. Setting Up Your Paper Management SystemrnBasically, there are five main ingredients to a successful paper management system. First, have a vision of what you’d like your space look like (no clutter on surfaces, no piles of paper anywhere). Give yourself ample time to work on the system. Whether you take an entire day, or just 15 minutes each day, make sure you put aside enough time to get the system set up completely and allow time each day or week to maintain it. As you are going through your papers, make sure you have all the necessary supplies and tools within easy reach (letter opener, stapler, paper clips, highlighter, envelopes, stamps, file folders, etc.). It helps to set up a paper sorting area (this can be a desk, or counter area), where you can keep these supplies for regular paper management. Last, but most importantly, you will need to maintain your system regularly. Keeping RecordsrnHow long should you keep tax records and returns? Ordinarily, the IRS recommends three years from the due date of the tax return in which to audit federal income tax returns. This limit may be extended, however, in unusual cases. If more than 25% of your gross income was not reported, the government has six years to collect the tax or to start legal proceedings. Also there are time limitations if you filed a fraudulent return or if you failed to file a return. So, to be safe, it is recommended that you keep your tax records for six years. What to KeeprnRemember that you don’t have to keep everything for tax purposes. Use a checklist to remind yourself of what to keep and what to discard. For a complete list of what records to keep, please see out Tax Records page on our website: http://www.organizingboston.com/taxrecords.html. rnFiling TipsrnWhen putting together a filing system, it is key to have a quality, full-suspension filing cabinet, with enough drawers to hold all your files. Typically, you should only need one or two drawers for current files. Archival files should put in a box, dated and labeled, and stored away. You’ll want to keep the system simple by using broad categories for the hanging files such as Auto, Home, Insurance. Then use manila folders within the hanging folders for more specific categories. Name the files the way you would think of them. Use a labeler and label all tabs and folders clearly. MaintenancernOnce your system is in place, it should only take minutes each day to maintain it. Here are some tips to make to make your paper maintenance quick and easy.rnDealing with Mailrn• Make time everyday to open and read the mail. • Open mail in one mail center area with all your tools and supplies. • Have a wastebasket and recycling bin near to toss the mail in as you open it. • Make decisions as you open the mail.rnScan the contents of each piece and process it appropriately:rnImmediately: • Throw out all unwanted solicitationsrn• Throw out the outside of the envelope that comes with every billrn• Throw out the inserts that come with every billrn• Scan each catalog and if nothing interests you, then recycle it.¬rnTake the remaining pieces and sort into the following categories: • To Payrn• To Dorn• To Filern• To Read Take time each day to maintain your system and you’ll never be drowning in paper again!