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Get the hanging folders and label them. Put the correct papers in that folder. As far as recepts you need to keep them for at least 10 years if you have used them on your taxes for deductions. My hubby keeps them in a coffee can or an old shoe box and stow them in a closet or under the bed. Most recepts are only good for 90 days and can be thrown out unless you used them as a write off.
If you can figure out a way to organise them keep everything.. I personally never throw out anything about my financial history.. Its always good to know exactly where something is if you need it...
And with so much identity theft.. remember to shred anything you do chuck twice.. or even better burn it
Every weekend I find myself cleaning my file cabinet because throughout the week. I am always throwing crap in there, not thinking about putting it in the right place.
Most receipts can be chucked once verified like the utility bill shows your previous payment; keep receipts for anything on warranty until the warranty expires; keep tax related receipts 3 years in case of audit; keep receipts for product that you likely will return. Use common sense and your past experiences.
We clear out our file cabinet at the end of the year. Excpt for tax related items, we recycle all that paper and wonder why we kept them.