“Organized financial records are a foundation of effective money management.”

-Jack Kapoor

Hello, friend!

Welcome to Journey To Millions!

In my previous article entitled Top 5 Personal and Financial Risks You Should Manage, I promised to help you get organized with your personal and financial records. For some, it might seem like a very mundane task, something that won’t need too much guiding or hand holding, but based on our experience, it’s not as easy as it seems. Figuring out which personal and financial record stays or which goes takes a considerable amount of thinking and preparation.

So, for today, we will be going through a list of personal and financial records that matters to your journey to millions. Excited to know what they are?

Here are the Top 10 Personal and Financial Records You Should Keep:

Personal and Employment Records

• Birth certificate
• Marriage certificate
• Baptismal certificate
• Confirmation certificate
• Death certificate
• Resume (updated)
• Employee benefit information
• Proof of employment
• SSS numbers
• TIN
• PhilHealth numbers
• HDMF numbers
• GSIS numbers
• Diploma
• Transcript of Records
• Passport
• Citizenship papers
• Adoption papers
• Custody papers
• Annulment papers

Money Management Records

• Budget
• Personal financial statements, like balance sheet and income statements
• List of financial goals
• List of safe deposit box contents

Tax Records

• Proof of tax payment
• Receipts for tax-deductible items
• Records of taxable income
• Past income tax returns and documentation

Financial Services Records

• Checkbook, unused checks
• Bank statements, cancelled checks
• Savings statements
• Location information and number of safe deposit box

Credit Records

• Unused credit cards
• Payment books
• Receipts, monthly statements
• List of credit account numbers and contact numbers of issuers

Consumer Purchase and Automobile Records

• Warranties
• Receipts for major purchases
• Owner’s manuals for major appliances
• Automobile service and repair records
• Automobile registration
• Automobile owner’s manual

Housing Records

• Lease (if renting)
• Transfer certificate of titles (owner’s copy)
• Mortgage papers
• Property tax records
• Home repair, home improvement receipts

Insurance Records

• Original insurance policies
• List of insurance premium amounts and due dates
• Medical information (health history, prescription drug information)
• Claim reports

Investment Records

• Records of stock, bonds, and mutual fund purchases and sales
• List of investment certificate numbers
• Brokerage statements
• Dividend records
• Company annual reports

Estate Planning and Retirement Records

• Will
• Pension plan information
• PERA account information
• SSS information
• Trust agreements

This list was adopted from Personal Finance by Jack R. Kapoor, Les R. Dlabay, Robert J. Hughes.—10th ed.

Now that you have this “comprehensive” list to get you going, you might want to start digging through your files and start deciding which record stays and which record goes.

Remember that your personally organized system of personal and financial records can help you make your journey to millions really do come true!

Before I say goodbye, if there is anything (any other important personal and financial record) you think we’ve missed in our list, please do post them in the comments section below.

We would love to add your ideas to our current list and hopefully attribute your contribution to nobody else but YOU!

Again, thank you so much for taking time to read this post and I sincerely wish that this would be helpful to you and your loved ones!

Until my next post.

Love,

Edel

 

Image taken from AllStateBlog

Tagged as: Money Management Records, PERA, SSS, Tax Records