Lifelong Money Management Tips

It’s never too late to get your financial records organized. Here are some tips to help you sort through all the records.

Keep a home file to maximize the efficiency of your financial records. Items should include:

• Information on credit cards, debit cards, checking accounts, savings accounts, and copies of contracts
• Copies of insurance policies
• Information on home mortgages, land, and other property
• Information on motor vehicles and driver’s licenses
• Copies of birth, marriage, death, divorce, and citizenship papers
• Copy of will, last instructions, and safe deposit box keys
• Tax records for the last six years
• Records of pension plans, education, health records, and employment
• Current household inventory. List everything you own, how much it costs, and approximately how old it is. Add pictures of room/major items and keep receipts
• Copies of all warranties and guarantees

Keep a safe deposit box for financial records that are difficult, costly, or impossible to replace. Items should include:

• Birth, death, marriage, divorce, adoption, and citizenship papers
• Deeds to property
• Titles to motor vehicles
• Stock and bond certificates
• U.S. savings bonds
• Important contracts
• Military discharge and veteran papers
• Patents and copyrights
• Important disks or CDs
• Negatives or the actual pictures of your home inventory