Reader Request: Paperwork Organization

Another question I receive often is about paperwork, Bills, Junk mail, statements  . . . all of it!
I seriously can't stand paper clutter, one because it's messy looking and two because it's so un necessary. By un-necessary I mean most of it is JUNK!

Here's how we handle it:
Disclaimer: Some paper cuts may occur ;)

First things first, Junk mail goes straight into the recycle bin! It's a really simple thing to do, but it really makes a ton of difference.

Second, you need an inbox. Just something on your desk or in your kitchen or where ever. Something you can put the mail into everyday.
Every week we go through the inbox. Wednesday is our day to pay bills and file away what needs to be filed away.

Third, set up two filing spots.

 You'll need one spot that's really easy to access. This would be for your monthly bills and statements. We use a transparent file holder hung off the wall. (from Staples for $5.99)
We keep a folder for:
-Credit Card Statements, for 1 year.
-Regular Bills Cable etc. . . 6 months. Our cell phone bills are emailed to us.
-Bank Statements (we've gone paperless with those too).
-Our Portfolio statements (like our retirement savings and mutual funds).
-A folder labeled House for Utility bills and incoming property taxes and assessments.

The other filing spot can be a box in the back of your closet or where ever. It will hold less frequently accessed files. Things like:
-Product Warranties
-Appliance manuals 
-Mortgage information for every house we've bought in the last 7 years.
-Property Tax and Assessment information.
-Tax returns up to 7 years back.
-This is also the place to keep any important information like birth records or immigration papers, stuff like that. 

 As for Receipts we have two boxes on the shelf, one is for my bloggy tax receipts and one is for Lee's business receipts.

 And that's how we tamed the paperwork beast. Woooo cha (That's the sound of my whip cracking). 

Now that the paper work is organized . . . it's time to get on to some cable management. We are swimming in wires over here! 

*Pretty File Folders are from Target!