Brenda Procter, M.S., State Specialist and Instructor, Personal Financial Planning, University of Missouri Extension
The chaos of life can make it hard to keep up with important papers and records. Investing a little time to create a tracking system can save time and money down the road.
Tax documents back up the deductions you claimed if the IRS ever audits you. Keep tax returns and records for three years, but save them longer if you have space…
Keep other important records like court papers, contracts, insurance policies, loan papers, leases, passports, or social services applications and approval forms as long as they are in effect. Update them as necessary. There are also family papers you should keep permanently…
For tips on what to keep and the best ways to track and store all of these documents, see the full version of this article at http://missourifamilies.org/
