3 Steps to manage your finances with relatively less paper documents

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By: tiarajoseph11
on 10th Apr,2013

Converting your paper files into digital files is a very convenient option, which helps you live life clutter free.
3 Steps to manage your finances with relatively less paper documents


 

How often do you clean your file cabinets? Does it always take a back seat amongst your listed work priorities since you think it'll take from dawn to dusk to go through your entire documents? If yes, then you can decide to convert your paper documents into digital ones. Converting your paper files into digital files is a very convenient option, which helps you live life clutter free. Read this article to know how you can manage your finances efficiently without having to manage lots and lots of paper documents.

  1. Know what to store - It is true for paper documents as well that you need to sort out the important documents which you need to store. Otherwise it becomes really difficult to find the required document in need. Therefore, arrange your documents according to their importance; such as, which are really important, which are not so important and which you won't require or just want to keep if you need it in the future. This will help you sort out which documents you want to store digitally. For example, which are very important, you might want to keep a hard copy and you might keep only the digital copies of documents which you may require in the future. You should always keep certain original documents such as your contracts, titles, etc.
  2. Store documents digitally - The banks usually ask whether or not you want to receive the statements only through mails. So, opt for this option and also choose online transactions as it is cheaper and faster. It is also much safer if you access your accounts only from your personal computer and use strong passwords, which are difficult to guess. Moreover, it becomes quite easier to locate a document if they're arranged in your computer. It will help you save time to go through each paper in your file to find out a specific one. However, if you need, talk to an expert to know the correct way to store your documents digitally. And, after you've done that, throw the papers which you don't want. However, while doing so, destroy them properly, so that no one else gets to know about your financial information.   
  3. Take backups of everything - Storing data in a machine comes with a disadvantage; that is, data loss. So, you need to take multiple backups of each and every document. Otherwise, you might lose your favorite photos or important financial documents. Therefore, it is advisable, when you decide to store digitally, store your documents in multiple drives along with an external hard drive. Along with this, use an ‘off-site' back up service to store your important information so that you don't lose anything even if your hard drive gets stolen or there's hard drive crash in your computer.

Lastly, it should be mentioned that there are many software with the help of which you can keep your documents safe and organized. Some of these software programs also let you share your documents with your friends with whom you need to. So, opt for paperless financial management and manage your financial life efficiently. 

 

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