You probably have a notebook for each of your classes tohelp you stay organized.
Take a few hours to get your financial life organized, too. You can keep most financial records
in your dorm room or apartment. Buy a file box that locks
and separate your financial records into file folders. Or keep
your labeled file folders in a cardboard box and put the box
in a locked drawer or closet.
Here’s one way to label your files:
Bill Payments. Put your bills in this file to help you
remember to pay them on time.
Checking Account. In general, save your canceled
checks and bank statements for five to seven years in
case the IRS audits your tax returns.
College. Keep records about your courses, grades,
and credits.
Financial Aid. Applications, award letters, and notes
about important telephone conversations go here.
Insurance. File your car, medical, and renter’s policies.
Loan and Credit Records. File loan agreements and
payment records for student loans, car loans, credit card
payments, and so on.
Receipts and Warranties. Keep this information for
major purchases, such as computers or stereos.
Savings and Investments. File statements from your
bank account and any other accounts you have.
Taxes. Put your tax returns, W2s, pay stubs, etc., here.
Records that are difficult to replace, such as your birth certificate and Social Security card, should be stored in a safe deposit
box at a bank or in a fire-resistant box at home.
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