taking stock

Setting Up a Safe System

There is no single perfect system for organizing financial records. Create one that works for you. To save space, digitize records and securely store them on the computer or online. Still prefer paper? Sort records into specific file categories (tax records, home repairs, etc.) and store them. How can you make sure your system stays organized?

1. File records away when they begin to pile up.
2. Wait and file everything away at tax time.
3. Set aside time each week or whenever you pay bills to file things away.

“C” is correct. Also take safety precautions: Write down and keep passwords and financial account numbers in a secure place. Put crucial documents like passports, deeds, and birth certificates in a locked drawer or safe. Avoid leaving financial records where anyone can see them. Many identity thieves are people we know.

In this module, we've given you a fiancial foundation. Now it's time to "frame up" your money management skills.

Continue to "Saving, Spending, and Credit".