I keep every receipt (utilities, grocery, medical, etc.) in a plain legal sized envelop labeled for the month (Example: Jan 09) until the end of the year. I keep them in a drawer with my bank statements.
At the end of the year you will have 12 legal envelopes the same size as your 12 bank statements. I bundle them with rubber bands. I begin a new check register each January 1, and stop with Dec. 31. I put the check register with the bundled envelopes.
At the end of the year I store them in plastic totes. On the envelope I will write whether there are important receipts for items which could possibly need to be exchanged like a new appliance.
I have done this for over 20 years.
By Jeanne from Elysian Fields, TX
Feedback about this article is posted here. Want to contribute? Click above to post feedback.
By Betty 02/02/2010
I keep as little paperwork/receipts as I can get away with. I do keep receipts for items that I think there could be a possibility I may need to return. When I pay utilities I keep that bill and shred the previous month. But the envelope idea for a month is a good idea that I will use. I think it will easier than dragging out the file and putting them in there. I don't think I've ever needed a utility bill that I've shredded. I don't even keep manuals for most things; I figure I can always see them online if I need too. Only once have I had to look up a manual online and that was for a sewing machine my daughter gave me. Even at that my computer is still disorganized with papers. I've even gone so far as to disconnect my printer because I have such a habit of printing "stuff" I think I may need later; and seldom ever do.
By Victoria Kuohung02/01/2010
I did this for several years, and ended up with too many accordion files of receipts to store efficiently. I'd be curious to know how the OP manages the accumulated bulk of all her receipts.
By Tammy Fuller 04/25/2009
I have also done this for years but a friend recently questioned why I hold on to paid bills and I honestly don't have a good answer. I really haven't had to dispute a bill in years.
By PENNY K 02/06/2009
I do something similar, but only for the last 2 years, and once long ago for some months.
I can't stress enough how useful this is on so many levels.
Bravo for your 20 years of self discipline. You can track any number of things, even coding type of purchases if you want.
Really keeps you honest with yourself when you are getting off track, but also supports you against self criticism if you can see you did the best possible with what you had during a given time.
By Tonia (Guest Post)02/06/2009
This is a brilliant idea. So easy and organized and I never thought of it. Thanks so much for such a simple, inexpensive solution!
By Diane (Guest Post)02/06/2009
AWESOME IDEA!! I have tried for so long to organize and this looks like the perfect solution for me. Thank you, Thank you, Thank you.
By barbara (Guest Post)02/05/2009
I do the same thing, I have receipts from years past. My daughter laughs at me but if I need one a few months down the road I just go to that year and month and it's usually there.
Add your voice to the conversation. Click here to post feedback.