Productivity Tips: Paper Retention and Document Storage
I recently worked with a client on one of her biggest time leaks: paper management at home.
To help you with your quest to refine your paper retention rules (or create them!) and fine tune your document storage system, here are some highlights from our paper management session.
Action Items:
*Store all papers requiring action in one central location.
*Use a file sorter to store the documents in this location.
*If possible, ask an accountability partner (spouse, other household member, a good friend, etc.) to ask you each week about the status of the action items (or if your household member sees the same papers in there for a while).
Papers to save for the long term – Proof of:
*identity
*finances
*ownership of high value possessions
*supporting documents for an IRS audit
You can find more info here: Round-up of Paper Management Tips
Papers to save for the short term – current year docs:
*January – December file folders or accordion file
*monthly statements, receipts, proof of income
*For most people, it’s easier come tax time to have filed personal papers separately from 1099 business papers.
Firebox:
*If you don’t have too many legal (long) documents, this box should be large enough to hold your important papers.
*Some of my clients have opted for fireproof document bags like this one because they can’t lift a heavy firebox.
Shredding services:
If you end up with a lot of shredding after going through your documents, consider dropping it off at a shredding service to save you time.
Office Max
Office Depot
FedEx Office
The UPS Store
As of this printing, a fairly full kitchen garbage bag usually runs around $20-$25 to shred.
The longer you wait to address your paper piles, the longer the project will take to complete. I highly recommend you dive in!
For more tips on document management and paper retention, browse The Inefficiency Assassin: Time Management Tactics for Working Smarter, Not Longer.
