Personal Paperwork

First consider auditing the types of paperwork you are storing (whether in perfectly sorted and labelled filing systems, or in stacks around the house), and look particularly at whether it is possible to go “paperless” with that particular utility provide, insurer, bank, or business. You likely already have, or will have to create, accounts to access billing information online and it may be useful to utilize a reputable password storage app or a physical username and password list in a secure place (think: out of sight and ideally locked away) to keep these passwords organized and handy for when you need them. Receiving emails instead of letters, and using automatic payments instead of manual payments, can free up space on your desktop and in your calendar. 

Consider creating a simple and effective series of folders on your computer to store documents should you still have a need to store them. For example:

• Documents

  • Tax Documents

    • [Year]

      • (Files contained inside year folder with document type in file name)

  • Paystub

    • [Year]

      • (Files contained inside year folder with employer and pay date or pay period in file name)

  • Bills

    • [Provider/Business Name]

      • [Year]

        • (Files contained inside year folder with month in file name)

  • Bank Statements

    • [Bank/Credit Card/Investment Company Name]

      • [Year]

        • (Files contained inside year folder with month in file name, annual statements also named as such)

A robust electronic filing system also includes a strategy for backing up files in case of emergency on a “cloud-based” storage service or on an external drive stored in a safe, secure, and separate place.

Auto Records: While Active; Sales transactions documents 6 years after

Insurance Policies: While Active

Warranties and Contracts: While Active

House-Related Records: While Active

Paid Bills: 1 Year (unless they contain tax deductions for home office)

Paycheque stubs: 1 Year

Credit Card, Bank Statements: 7 years

RRSP, Other Retirement Plans: Indefinitely

Personal Records (Passport, Birth Certificates, Marriage, Divorce, or Immigration Papers, Education Records): Indefinitely

Annual Investment Statements: Indefinitely

Other paperwork that is not of a financial or legal nature, such as artwork, cards, souvenir tickets or other sentimental items should be tackled separately. 

Choose a filing storage system that will accommodate all of your retained documents and allow you to keep your desktop as free as possible for active work rather than paper storage. Be sure to clean dust and debris from any drawer or cabinet space you may have cleared while purging old paperwork. Put some thought into how you’d like to use any new open space in ways that will best serve you and your lifestyle. 

It is essential to remove policies, contracts, warranty information, and other records and documents when they are no longer active and when they fall outside of the recommended retention timeline in order to keep your filing system free of unnecessary paperwork and clutter. Practice a rule of “one in, one out” for documents where possible and conduct a review of your files twice yearly in order to maintain your hard work. 

Tackling paperwork and office maintenance can be a stressful undertaking, especially for those of us who have families or are running home-based businesses! Reaching out for help from a professional organizer, particularly one who is trained in office organization, can make a world of difference in being able to get your papers in order, and keep them that way in the future, freeing up more of your valuable time. An investment in creating systems that work to get and keep you organized in the office could also save you money when it comes to keeping up with billing cycles, as well as having all relevant documents at hand during tax time.