Monday, April 4, 2011

Day #18 - 30 Days to a Simpler Life

It's day 18 of 30 days to a Simpler Life. Challenge 18 - Go for Financial Freedom To achieve financial freedom, first figure out what you have and then manage it well. Today, collect your documents that are associated with large assets---documents for your car, house, investments, and so on---and put them in one filing cabinet called Assets. For your house: file your deed, purchase contract, closing papers, title policy, and insurance papers. For your investments: file confirmations, year-end statements, and tax reporting forms. For cars: file ownership papers, registration documents, and insurance papers. (30 Days to a Simpler Life, p. 116) I already have a working file system though it is set up differently from the suggestion. The auto file includes folders for ownership & registration and a second for maintenance for each vehicle. The insurance file holds folders for auto, home, and medical. The house paperwork has its own file. Taxes have a folder in my desk where I stick papers that I will need for federal and state income tax returns. So I did the following instead: 1. I decided to look through my to be filed folder and pull out any bank statements that are not filed. These I sorted in order and placed in the appropriate folder. 2. Then I set up a new assets file in Excel and updated the amounts for January and February. This is my overall picture for DH, so he can see what we have where and whether its going up or down. That was all I had time for yesterday, but at least I got a little bit more done.

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