What papers should you keep?

"What papers should I keep?" This question comes up over and over again when I'm helping residential clients organize their papers. Most businesses have a record retention policy that dictates what papers you should save and for how long. But many people are unclear about what they should be saving in their personal home files.

The lists below contains suggestions from Clark Howard, the consumer guru from Atlanta, and financial planner Ric Edelman. Prudence dictates that I tell you that I am not an accountant or lawyer. These suggestions should serve as guidelines to get you started, but you should also consult your accountant and possibly the Internal Revenue Service's web site (see IRS Publication 552: Record Keeping for Individuals) to see if there are other suggestions that better fit your situation.

Clark Howard says:

WHAT RECORDS TO KEEP:

* Tax returns, keep forever
* Tax return documentation (receipts, supporting documentation), keep for six years
* Contracts, forever
* Real estate records, forever
* Last pay stub of a job if you leave the job
* Last pay stub of the year of your current job
* All mortgage payment checks (statements), until the mortgage is paid off
* All student loan payments, until the loan is paid off
* Car loan payment stubs, until the car is paid off
* Canceled checks, for 7 years
* Bank deposit slips, for 7 years
* Bank statements, for 7 years
* Home Improvement records, ownership period plus 7 years
* Investment records, ownership period plus 7 years

WHAT RECORD TO TOSS:

* Credit card statements that are more than three years old
* Past insurance statement
* Old utility bills, except the most recent one from your old address if you've moved
* Recently paid bills (statements), once you have something saying they have been paid

Other suggestions from financial planner Ric Edelman's web site:

• Birth certificates, Death Certificates, and Marriage Certificates: never discard
• Health records: never discard
• Stock and bond certificates: discard or shred when sold
  
• Vehicle titles: discard or shred when vehicle is sold
• Wills, trusts, and powers of attorney: discard or shred when a new one is signed
• College financial aid and other loans: shred ten years after loan is repaid
  
• Insurance policies: keep copy of existing policy as long as policy is in effect. Then keep a copy for one year after your replace the policy
• Investment account statements: seven years after the last investment held in account is sold
  
• Pension documents: never discard
  
• Receipts for items under warranty: shred after warranty expires
• Receipts for expensive items: shred after item is sold or donated
• Social Security statement: shred old one when new one arrives
• Transcripts: shred old one after you complete another course
• Vehicle registration: shred old one when the new one arrives
• Vehicle repairs: keep until vehicle is sold

Most of these documents can be placed in a locked filing cabinet, though you may consider purchasing a fire and burglar resistant safe for some of your important, but hard to replace, documents. Consider using a safe deposit box for originals that you rarely need such as adoption papers, citizenship papers, lawsuits, divorce decrees, household inventory lists, photos of possessions, military discharge and veteran's papers.

Hopefully, these suggestions will help liberate your filing cabinet of all those non-necessary bits of paper that may be inappropriately squatting there now. Of course, they aren't going to jump out of there on their own. Sometimes you gotta go in there and throw them out.

Managing Email Folders

Later this week, I will be speaking to a large cancer practice about managing their email, along with other productivity tips. Like many companies, this group has been struggling with huge quantities of emails hitting their inboxes each day. Here are a few suggestions for folders you can create in your email program to help store and manage incoming email:

* ACTION: I use this folder to house those emails that I personally need to act upon. Then, after I've sorted through my inbox, I go back to ACTION and begin to prioritize the tasks I want to tackle first. A cool trick I use to make the ACTION folder pop up to the top of my folder list is to include the number 1 in front of the word ACTION.

* WAITING FOR: This folder is used for those emails where I have delegated a task to someone, am waiting for a response back, or am waiting to receive something in snail mail. For example, if I order an item off the internet, I put the confirmation email into WAITING FOR. Because I check WAITING FOR at least weekly, I use the same trick of adding a 1 in front of the folder name in order to make it pop to the top of my alphabetized email folder list.

* READ: I put those emails that are info-only and not time sensitive into a READ file. Then I spend a couple of minutes at the end of each day (during my low-energy times) perusing these emails. Or if I know I am going to be out running errands where I may get caught waiting, I print a few of my read-only emails to take with me. I love it when I can multi-task!

* PROJECT-SPECIFIC FOLDERS: For projects that are going to generate lots of emails that are save-worthy, create a project-specific folder. You may find that, as the project progresses, you need to break the project file into sub-folders to help you better manage the information. For example, as the Director of Communication and Technology for the GA chapter of NAPO, I oversee the chapter's web site, email list, and newsletter. To keep track of all of the info that I have to save for these different areas, I created a NAPO-Web, NAPO-Email List, and a NAPO-Newsletter folder. Then when I need to retrieve an email, all of my NAPO folders are close together alphabetically but separated into sub-categories by folder name.

* CLIENT-SPECIFIC FOLDERS: I create client-specific folders for on-going clients so that I can easily keep all of our save-worthy interactions in one place. I encourage you to use the same folder names for email files that you may also have in My Documents on your computer and/or your paper filing system.

* OTHER FOLDERS: Clients will often ask me, "How should I name my folders?" Whether it's an email folder, a paper folder, or a folder in My Documents on your computer, I always encourage you to pick the first name that pops into their head. More than likely, the name that first occurs to you is the same name that is going to occur to you the next time you need to find the information again.

And I would be falling down on the job as a professional organizer if I didn't STRONGLY encourage you to delete as many emails as possible, as often as possible. You've seen me use the phrase "save-worthy" in this post. Make sure that the emails you choose to keep are valuable enough to take up the mental energy and disk space it will take to store them.

Container Store's Annual Shelving Sale

As subscribers of this Better Organized blog know, my favorite shelving system is elfa from The Container Store. Good news! The Container Store is holding their annual 25% off Storewide Shelving Sale until October 21st. They only put elfa on sale two times per year, during this summer sale and again at the end of the year. So you should jump at this chance to save some dough if you've been thinking about upgrading your closet, basement, garage, or other storage areas. For those of you who aren't near a store, you can still take advantage of the sale by designing and ordering the components on line.

Not only is elfa on sale right now for 25% off, but so are several other shelving products that The Container Store offers. These include:

* Metro and InterMetro modular shelving
* Freestanding Shelving
* Wall-Mounted Shelving
* Modular Steel Cubes

For more info about The Container Store as well as tons of other sources for organizing solutions, go to the affiliate links at my website at www.creativeorder.com. Look under the Products tab and click on Recommended Resources. Happy organizing!

Creating Morning Routines For Kids

The new school year brings with it the need to get kids back into a normal daily routine. Gone are the lazy summer days of sleeping late and splashing around in the pool all day. Here are some suggestions to help simplify your morning routine with the kids:

• Get up about 20-30 minutes earlier than you would need for a "perfect-world" morning. This leaves you some wiggle room for the occasional kiddie meltdown, lost school work, and dressing dilemma, not to mention mom misplacing her keys.
  
• Stagger wakeup times if you have a shortage of bathrooms in your home. Also consider having kids bathe the night before.
• Eliminate distractions such as television to keep kids focused on getting dressed, fed, and out the door on time.
• Pre-pack school lunches the night before or have the kids make their own lunches in the morning or night before.
• Select outfits the night before. Lay out or hang everything needed for the outfit including underwear, socks, shoes, and accessories. This little tip works well for mom and dad too!
• Create checklists of chores or tasks that the kids should do before leaving the house in the morning (i.e. make bed, brush teeth, feed pets, gather up lunch, backpack, musical instrument, gym clothes, library books, etc.)
• Set a kitchen timer to go off ten minutes before it's time to head out the door.
• Create a "launching pad" next to the door for backpacks, jackets, musical instruments, gym clothes and mom and dad's briefcases and keys. Make sure cubbies and hooks are low enough for young kids to reach them.
• For those really hectic mornings, grab breakfast foods that can be eaten in the car such as fruit, cheese sticks, squeezable yogurt packets, muffins or bagels with cream cheese or peanut butter, and the trusty old standby of peanut butter and jelly sandwiches.

With a little bit of pre-planning, you and your kids can leave home feeling less stressed and better prepared to face the day ahead.

Gratitude

Today is my 42nd birthday. Throughout my life, I've never made a big fuss over my birthday. I mean there have been the occasional blowout parties, but I usually prefer to spend my birthday with family and close friends having a decadent meal (or two). There was even a time in my life where I would actually groan about the additional year I now had to add to my age.

But after surviving breast cancer in 2003, I will NEVER again complain about the privilege of growing a year older. I now spend everyday (and especially my birthday) reflecting on how incredibly lucky I am to be here. I spend time thinking about all of the amazing blessings that I currently have in my life and all the wonderful experiences I will manifest in the future. So please indulge me as I acknowledge a few of the things I am most grateful for:

* My healthy, curvy, disease-free body
* My loving, funny, dependable, frugal husband
* My parents and in-laws who truly believe I can do anything I set my mind to
* My sweet dog, Ruby Pearl, who is living proof that the law of attraction works
* Wonderful friends who are my cheerleaders and coaches
* A solid house that is paid for
* Money that flows freely into my life
* Organizing clients that bring me so much joy, laughter, and life lessons
* Having the privilege of working in healthcare with wonderful co-workers, doctors, and staff for so many years. And having this great job be just 3 miles from my home.
* A positive, trusting, hopeful vision of the present and the future
* Creative ideas that continue to abound
* Organizing and coaching colleagues who are quick to share their experiences and advice
* God and the angels who watch over me and whisper to me when I ask for direction, encouragement, inspiration, and courage
* Liberty and the pursuit of happiness

I believe that, before you can attract better things into your life, you must be grateful for what you have now. Appreciate the gifts you have been given, make the most of what is right in front of you, right now.

Then, imagine how you can make your life even better. Make it so.

Downsizing Part III: Selling the Good Stuff

In the last of this three-part series on downsizing, let us consider some ways to make money on the stuff that you no longer want to keep. With each of these options, I will cover the upsides and the downsides to help you decide which options are best for your situation.

* YARD SALE / ESTATE SALE. If you've never held a yard sale, let me tell you that it takes a LOT of work to pull one off successfully. First, you have to gather all the items together. That is no small task for most people. Then you will need to clean and price everything (and for goodness sakes, don't use cheap labels that can only be removed by using Goof Off!), place advertising, post signs in high-traffic areas, obtain tables for displaying items, have potentially valuable antiques appraised, and sweet-talk your friends and family into helping you.
UPSIDE: You get to keep all the money when your stuff sells.
DOWNSIDE: All of the steps I listed above. But if you have enough high-value items, you may make enough money for it to be worth all the trouble.
ALTERNATIVE: Hire an estate sale company to do it for you, but know that they will keep a large percentage of the sales.


* CRAIG'S LIST / EBAY AUCTION SITES: There are lots of internet-based auction sites out there now, but the most popular ones are Craig's List and Ebay. Before you go this route, I would encourage you to "shop" the auction sites to see how much similar items are selling for. You may be surprised to find that people aren't paying much for old Star Trek books, National Geographic collections, or record albums. If you decide to sell through Ebay, you'll first need to set up an account. Then take digital photos of each item, write a detailed description of the item, and determine your minimum acceptable winning bid. After you post the item on the auction site, be prepared to answer any questions potential buyers may email to you. After the auction is over, it will be your responsibility to mail the item to the winner. In most cases, you set up the auction so that the buyer pays you extra for postage. Ebay charges a listing fee regardless of whether the item sells. It is currently free to sell on Craig's List.
UPSIDE: You could get lucky and get a couple of people who REALLY want the item(s) you are selling. The competitive bidding mentality can really jack up the price of an item.
DOWNSIDE: Timing is everything with auction sites. If your timing is off and there's no real interest, the bids may come in pretty low. Also, it can be time consuming to answer all the questions and then mail each item to its winner.
ALTERNATIVE: If you can find one in your area, you could take your stuff to an online auction resaler who will keep a percentage of the selling price after posting the item, answering questions, and shipping the items to the winning bidder. Try your local phone book or Google to find an auction resaler in your area.

CONSIGNMENT: One of my favorite ways to make money on used household goods and nice clothing is through consignment stores. All you have to do is set up an account with the store and drop your items off. In my area of Decatur, I have a great relationship with Finders Keepers in Avondale Estates, GA. After I help my clients purge, I take their nicer household items to Finders Keepers (2753 East College Rd., Decatur, GA 30030. 404.377.1944) and set up an account under the client's name. Then when the client has a minimum amount of sales, Finders Keepers sends the clients a check. Other popular Atlanta-based consignment stores for antiques and household goods are Now and Again in Buckhead (404.262.1468) and Kudzu Antique Market in Decatur (404.373.6498). Check with these store for more info on their policies and the percentage of the sales that they keep. Normally, consignment stores keep between forty and fifty percent of the sales price.
UPSIDE: It is easy and convenient to make some money off your castaways if you have a good consignment store nearby.
DOWNSIDE: Most consignment stores can afford to be very particular about the quality of their inventory, so do not be surprised if they turn down some of your items. Also, you generally have no control over the price of the item, and the price goes down if the item does not sell within a set amount of time.
ALTERNATIVE: If you have a large quantity of high-quality antiques and collectibles, it may be more cost-effective to rent your own space in one of the antique consignment malls.

CLASSIFIED ADS: The last alternative that I sometimes suggest to my organizing clients is that they advertise in their local newspaper's classified section. In Atlanta, you can advertise household goods in the Atlanta Journal-Constitution (online and paper version) for free.
UPSIDE: You control the price and you get to keep the full sales amount.
DOWNSIDE: Strangers will be coming to your home. I generally do not recommend this option to my elderly or single female clients.

In this three-part series on Downsizing, I have given you some steps to get you started on the purging process, some ideas about where to donate the things you no longer need, and now some ways to make a few bucks along the way. Just remember, the ultimate goal when downsizing it to purge what you no longer love and what is no longer serving you. Let these things go to make space for a calmer, less chaotic home.

What other ways have you made money on your "junk"? Please leave comments and let us know!

Downsizing Part II: Donating What You No Longer Need

In our last issue, I gave you tips to help you begin the downsizing process if you are preparing to move into a smaller space. Once you start to purge what you no longer really need, you'll want to create a few different piles:

• a trash pile
• a recycle pile
• a donation pile
• a resell pile

It's pretty obvious what happens to the trash pile, though I've given you some junk removal sources below if your pile is too big. Let's look at some Atlanta-area donation and recycling options.

Donating Clothes and Household Goods

Thrift Stores: If you haven't been to a thrift store in the last couple of years, let me just tell you that the quality of the merchandise has improved. I believe one of the reasons for this is because we are buying and getting rid of more "stuff" than ever. Clothes and household goods have a shorter life span so items often are not as worn out by they time they are donated as they may have been in years past. That said, make sure that the items that you donate are at least in fair condition. Spare the urge to donate clothes with stains or tears, shoes with holes, or chipped dishes. A couple of the more popular and more reputable thrift stores in Atlanta are Goodwill and Salvation Army. There may be others in your area, but check to see how much of their revenue goes to the needy before donating.

Furniture Bank of Metro Atlanta (www.furniturebankatlanta.org) - Offers free pick-up in Cobb, DeKalb, most of Fulton, and most of Gwinnett counties. Does not accept office or outdoor furniture, large appliances, pianos, or water beds.

Atlanta Alliance on Developmental Disabilities (www.aadd.org) - Accepts clothing and household goods

Atlanta Union Mission (www.atlantaunionmission.org) - Accepts clothing, furniture, household goods, toiletries, large and small appliances. Will pick up in many metro-Atlanta counties.

American Kidney Fund (www.akfpickup.org) - Will pick up clothing and household goods or you may search for nearby drop-off boxes through their web site.

www.earth911.org - Great recycling, donation, & disposal site searchable by your area. They included DeKalb Farmer's Market, Whole Foods, and nearby county and city recycling programs when I searched using my Decatur ZIP code.

Freecycle (www.freecycle.org) - Site where you can sign up for your local Freecycle group, post the item you'd like to give away, pick which member you'd like to have it, and schedule a time for them to pick up the item. No money can exchange hands.

Junk Removal: Just Trash It (www.justtrashit.com) and 1-800GotJunk (www.1800gotjunk.com) offers residential and commercial junk removal.

Did I miss anything? If so, please leave me a comment. Be on the lookout for Downsizing Part III where we'll cover lots of ways that you can make a little money off of the things that you no longer need in your home.