Have a filing system for financial matters

In order to write some of my blog pieces on financial matters, I needed historical information of my financial transactions. I receive statements, advice, payment requests, and updates from various financial institutions (FIs). The mail that I received was filed away by document or information type and by date order in a lever arch file. Documents received directly from FIs, such as purchase advice, were also filed away systematically either by organisation or transaction type.

Only in recent years that I started to keep a proper filing records. I have several arch files created as a result. I found that I could track performance of some of my investments more accurately. Historical information also assisted me in my current investment decisions and budgeting decisions.

So instead of losing sight of such documents, why not have a filing system. You will be surprised at the usefulness of this historical information when you need them.

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