Having easily accessible records means less time preparing income tax returns. Deductions may be available if you can substantiate them. If your house or apartment is destroyed or burglarized, having irreplaceable records stored safely as well as an inventory of personal possessions can help get adequate insurance compensation and retrieve lost or stolen items. In the event of death, injury or an emergency, records will help in settling an estate, obtaining insurance or benefit claims and reducing some stress for loved ones. Having these records can save headaches when someone else makes a mistake about these facts, or if official documents are destroyed.
Records also help in evaluating past and planning future spending.
Once started, though, it s not too difficult to maintain. It may save time in the long run. Getting Started Motivating yourself to get started is the first step. Pull out all those records and papers you have stored all over the house. Begin sorting, because you don t need to keep everything to have good records.