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Organizing Finances and Receipts

Hey Ladies,

I posted this on MM but I'm curious what you girls do as well.

?_______

I organize all of our bills and put any important receipts aside that can be used for our taxes the following year into binders. I am trying to stream line/organize what I keep and don't keep with regard to receipts.?

My questions is: What do you do with all of your random receipts? I say random meaning things like make up, groceries, salon, gas, etc etc.

Which receipts do you keep and which do you throw out???

Re: Organizing Finances and Receipts

  • NSLNSL member
    Ninth Anniversary
    Everything gets shredded as soon as it's been entered into our budgeting software unless we need it for tax purposes. 
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  • The only ones I keep are the ones for taxes, like you said.

    Gas, I keep for a short time, just b/c of drive offs and I've heard stories of cops pulling over the wrong car. After a day or two, I throw it away.  I don't really keep any other receipts.

    IF you move and the Army, Air Force, or whatever branch doesn't pay for it, like us ARNG guys, KEEP your receipts for the moving truck and stuff.  You can claim that on your taxes!

  • Pitch them unless they are for something purchased with a warranty. We don't itemize, so I don't keep any of that stuff normally. I am however this year due to adding a garage (don't know what that is going to do to our property taxes and it may be enough if they revalue part way through the year) and my medical bills (though I doubt we will hit the floor for that given our income level, but it is possible).
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  • imageladystout:

    The only ones I keep are the ones for taxes, like you said.

    Gas, I keep for a short time, just b/c of drive offs and I've heard stories of cops pulling over the wrong car. After a day or two, I throw it away.? I don't really keep any other receipts.

    IF you move and the Army, Air Force, or whatever branch doesn't pay for it, like us ARNG guys, KEEP your receipts for the moving truck and stuff.? You can claim that on your taxes!

    Thank you for reminding me! We are PCSing soon (DH is USMC) but because it's overseas TMO will be handling the move as they won't allow us to DIY. I will keep any and all receipts associated with the move even if it's just food/housing as they do reimburse some things and not others (just want to be safe than sorry).

  • I track our spending each month.  During the month the receipts get thrown in a basket on my desk, then I go through, record everything into categories (groceries, gas, misc.) and also take into account utilities and other payments.  Everything is recorded with the date, store name and total amount.  After it's been recorded, I shred the receipts.

    I'll add that I keep certain kinds of receipts - ones for tax purposes, Best Buy-type receipts (for warranties), Lowe's-type receipts (to track remodeling costs and money invested into the house), Petsmart-type receipts (to track total costs spent on C), etc.

  • imagekdodge423:
    Pitch them unless they are for something purchased with a warranty. We don't itemize, so I don't keep any of that stuff normally. I am however this year due to adding a garage (don't know what that is going to do to our property taxes and it may be enough if they revalue part way through the year) and my medical bills (though I doubt we will hit the floor for that given our income level, but it is possible).

    Thanks! I was a freelancer for a long time so I used to keep gas and food receipts for write offs. Now that I'm not, I'm trying to get rid of the clutter and habit of keeping every one.

    We don't have any property thus far but I do keep all medical bills/receipts (even for my Rx's).?

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