Reasons To Save Your Receipts

I have started saving my receipts for 3 reasons:

  1. Once while using my debit card, and another time when I wrote a check, more than the right amount was taken out of my checking account. I had the original receipt for each and the bank was able to adjust my account.
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  3. For returns or for possible tax information
  4. For coupons on the back of the receipt. My last trip to Price Chopper I received a coupon for $8 off my next oil change (which I will use during their early bird special and get my oil change for only $7), and buy one eat one free at CC pizza, which is were our church youth kids eat at least once a month, and a free hair cut from Fantastic Sams.

After 3 months, I go through my receipts and get rid of what I can, but save those which I may need. I put each month in a separate business sized envelope and those then go into my tax book.

My tax book is a 3 ring notebook with plastic protector sheets. I put all tax information in that book and then just use that book at tax time. It is divided by sections--farm expenses, rental units, donations, church, stocks, w2's.

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Source: Years of doing it wrong taught me to do it right!

By mom-from-missouri from NW Missouri

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Budget & Finance AdviceFebruary 1, 2010
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