Financial Organizing for 2010

One of my goals for this blog is to write periodic posts on financial literacy and planning and maybe share a tip or strategy or two.

Today’s tip: create a folder for your 2010 taxes. Yeah, you read that right, I wrote 2010. Of course, if you don’t have a place to store your 2009 documents – which if you’re like me, you’re already receiving – then you should certainly start one, but at the same time, take out a fresh folder, or large mailing envelope, or whatever you prefer, and create a file for 2010. Throughout the year, paperwork will accumulate that come next spring, you are going to need, and instead of wasting time tracking it all down, or worse yet, forgetting all about it and missing the deduction, you will have all your papers in one place. This folder will become the home for things like donation receipts, local tax forms, receipts for any home improvements you might make, etc. A little bit of organization now can save you lots of time in 2011.