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6 Reasons to Keep Receipts…Or Not!

6 Reasons to Keep Receipts…Or Not!

When we work with clients in person to sort out their papers and create systems for them, we always run into the issue of keeping receipts.

For purposes of this article, we’re speaking about personal receipts for managing your household. Businesses should keep all receipts and should definitely use financial management software like QuickBooks or Peachtree to track and report on the information.

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Most personal expenses, however, are routine and irrelevant, and keeping all receipts would be a waste of time and energy. Do you really need a receipt to prove that you bought some gum along with your gasoline?

There are essentially 6 reasons that people should keep receipts:

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1. Proof of purchase for warranties: Receipts for any major purchase such as appliances, electronics, or jewelry should be filed in your warranty files and retained as long as you own the item. We usually make files with the major heading “Warranties & Instructions” and then have folders for subcategories of Major Appliances, Small Appliances, Electronics, Computers & Peripherals, etc. depending on the person’s buying habits.

2. Proof of major expenses: Receipts for any major expense for your car should be kept in a file for that vehicle, as long as you own it. Major home improvement expenses should be kept in a file for “Home Improvements & Repairs” and then kept with your tax records after you have sold the home.

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3. Merchandise returns or exchanges: If you possibly could return an item (or if you gave it as a gift), you may want to hold onto the receipt for 30 days or as long as the store’s return policy applies (some are only 14 days). After that point, you can either throw away the receipts or file them if you need them for warranty reasons. We recommend having a spot for these kinds of pending receipts, such as a slot in a letter sorter or a “waiting” folder, and cleaning it out periodically when full.

4. Expense reimbursements: You may need to be reimbursed for work expenses made with personal funds. First, find out if your company can give you a credit card to use for these items in the future to keep things simpler. You also might enjoy using NeatReceipts, a scanner/software combination made just for this purpose.

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5. Budgeting and reconciling: You may be trying to make sense of how much you spend in certain categories. With online banking providing more and more data, do you really need to track everything? Sometimes we talk with our clients about what I call “Quicken Guilt,” the feeling of inadequacy of not entering every receipt into financial software and reconciling everything to the penny. If you feel you must keep receipts for this reason, we recommend having a simple January-December expandable accordion file to quickly and easily put them away.

6. Tax deductions: If you are going to tell the IRS something, you need to be ready to back it up. We recommend having an income tax file for each year. Always have at least one year’s tax folder made up in advance so you’ll be ready when the paper arrives. When you do have a receipt that will be tax deductible, you can jot a quick note on it first and then drop it in your tax file. Tax organization needs can vary widely depending on your situation, but most households don’t have that much and one folder will do.

Other than these reasons, you generally do not need to keep receipts, so liberate yourself and throw some away today!

Lorie Marrero is a Professional Organizer and creator of The Clutter Diet, an innovative, affordable online program for home organization. Lorie’s site helps members lose “Clutter-Pounds” from their home by providing online access to her team of organizers. Lorie writes something useful, funny, interesting, and/or insanely practical every few days or so in her Clutter Diet Blog. She lives in Austin, TX, where her company has provided hands-on organizing services to clients since 2000.

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Last Updated on December 10, 2019

How to Stay Motivated and Reach Your Big Goals in Life

How to Stay Motivated and Reach Your Big Goals in Life

It is hardly a secret that the key to successfully accomplishing one goal after another is staying motivated. There are, of course, tasks which successful people may not like at all, yet they find motivation to complete them because they recognize how each particular task serves a greater goal.

So how to stay motivated most of the time? Here are 5 simple yet effective ways on how to stay motivated and get what you want:

1. Find Your Good Reasons

Anything you do, no matter how simple, has a number of good reasons behind it.

You may not be able to find good reasons to do some tasks at first but, if you take just a few moments to analyze them, you will easily spot something good. We also have many tasks which don’t need any reasoning at all – we’ve been doing them for so long that they feel natural.

If you’re ever stuck with some tasks you hate and there seems to be no motivation to complete it whatsoever, here’s what you need to do: find your good reasons.

Even when you set goals, there needs to be reasons behind these goals. They may not be obvious, but stay at it until you see some, as this will bring your motivation back and will help you finish the task.

Some ideas for what a good reason can be:

  • A material reward – quite often, you will get paid for doing something you normally don’t like doing at all.
  • Personal gain – you will learn something new or will perhaps improve yourself in a certain way.
  • A feeling of accomplishment – at least you’ll be able to walk away feeling great about finding the motivation and courage to complete such a tedious task.
  • A step closer to your bigger goal – even the biggest accomplishments in history have started small and relied on simple and far less pleasant tasks than you might be working on. Every task you complete brings you closer to the ultimate goal, and acknowledging this always feels good.

2. Make It Fun

When it comes to motivation, attitude is everything. Different people may have completely opposite feelings towards the same task: some will hate it, others will love it.

Why do you think this happens? It’s simple: some of us find ways to make any task interesting and fun to do!

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Take sports for example. Visiting your local gym daily for a half-an-hour workout session sounds rather boring to some. Yet many others love the idea!

They like exercising not only because they recognize the good reasons behind it, but simply because it’s fun! At certain time of their daily schedule, they find going to gym to be the best thing to do, simply because nothing else will fit their time and lifestyle so perfectly.

Depending on how you look at it, you can have fun doing just about anything! Just look for ways of having fun, and you’ll find them!

A simple approach is to start working on any task by asking yourself a few questions:

  • How can I enjoy this task?
  • What can I do to make this task fun for myself and possibly for others?
  • How can I make this work the best part of my day?

As long as you learn to have the definite expectation of any task being potentially enjoyable, you will start to feel motivated.

Some of you will probably think of a thing or two which are valid exceptions from this statement, like something you always hate doing no matter how hard you try making it fun. You’re probably right, and that’s why I don’t claim everything to be fun.

However, most tasks have a great potential of being enjoyable, and so looking for ways to have fun while working is definitely a good habit to acquire.

3. Change Your Approach And Don’t Give Up

When something doesn’t feel right, it’s always a good time to take a moment and look for a different approach for the task.

You may be doing everything correctly and most efficiently, but such approach isn’t necessarily the most motivating one. Quite often, you can find a number of obvious tweaks to your current approach which will both change your experience and open up new possibilities.

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That’s why saying “one way or another” is so common — if you really want to accomplish your goal, there is always a way; and most likely, there’s more than one way.

If a certain approach doesn’t work for you, find another one, and keep trying until you find the one which will both keep you motivated and get you the desired results.

Some people think that trying a different approach means giving up. They take pride in being really stubborn and refusing to try any other options on their way towards the goal.

My opinion on this is that the power of focus is great, but you should be focusing on your goal, and not limiting your options by focusing on just one way to accomplish it it.

4. Recognize Your Progress

Everything you may be working on can be easily split into smaller parts and stages. For most goals, it is quite natural to split the process of accomplishing them into smaller tasks and milestones. There are a few reasons behind doing this, and one of them is tracking your progress.

We track our progress automatically with most activities. But to stay motivated, you need to recognize your progress, not merely track it.

Here’s how tracking and recognizing your progress is different:

Tracking is merely taking a note of having reached a certain stage in your process. Recognizing is taking time to look at a bigger picture and realize where exactly you are, and how much more you have left to do.

For example, if you’re going to read a book, always start by going through the contents table. Getting familiar with chapter titles and memorizing their total number will make it easier for you to recognize your progress as you read. Confirming how many pages your book has before starting it is also a good idea.

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You see, reading any book you will be automatically looking at page numbers and chapter titles, but without knowing the total number of pages, this information will have little meaning.

Somehow, it is human nature to always want things to happen in short term or even at once. Even though we split complex tasks into simpler actions, we don’t quite feel the satisfaction until all is done and the task is fully complete.

For many scenarios though, the task is so vast that such approach will drain all the motivation out of you long before you have a chance to reach your goal. That’s why it is important to always take small steps and recognize the positive different and progress made. This is how your motivation can sustain in long term.

5. Reward Yourself

This is a trick everyone likes: rewarding yourself is always pleasant. This is also one of the easiest and at the same time most powerful ways to stay motivated!

Feeling down about doing something? Dread the idea of working on some task? Hate the whole idea of working? You’re not alone.

Right from the beginning, agree on some deliverables which will justify yourself getting rewarded. As soon as you get one of the agreed results, take time to reward yourself in some way.

For some tasks, just taking a break and relaxing for a few minutes will do.

For others, you may want to get a fresh cup of coffee and even treat yourself a dessert.

For even bigger and more demanding tasks, reward yourself by doing something even more enjoyable, like going to a cinema or taking a trip to some place nice, or even buying yourself something.

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Your progress may not seem to others like anything worth celebrating but, take time and do it anyway! It is your task and your reward, so any ways to stay motivated are good.

The more you reward yourself for the honestly made progress, the more motivated you will feel about reaching new milestones, thus finally accomplishing your goal.

Mix and Match

Now that you have these five ways of staying motivated, it is a good moment to give you the key to them all: mix and match!

Pick one of the techniques and apply it to your situation. If it doesn’t work, or if you simply want to get more motivated, try another technique right way. Mix different approaches and match them to your task for the best results.

Just think about it: Finding good reasons to work on your task is bound to helping you feel better; and identifying ways to make it fun will help you enjoy the task even more.

Or, if you plan a few points for easier tracking of your progress and on top of that, agree on rewarding yourself as you go; this will make you feel most motivated about anything you have to work through.

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Featured photo credit: Lucas Lenzi via unsplash.com

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