Using some standard home filing categories will make it much easier for you to file your documentation and keep it maintained.
In developing the Easy-PIM system I discovered that there are only 4 types of files that anyone (or family) has in their life. These categories will be described below.
If you are using the Easy-PIM system to help you organize your personal and financial files, then you are familiar with these home filing categories. If you are not using the system then the information below is for you.
These files will consist of records that are not necessarily financial in nature. Files that are personal usually offer the most challenge when trying to organize.
Many documents that fall into this group may be misplaced or lost. These consist of birth certificates, death certificates, divorce papers, etc. For a complete copy of all the Personal Records in this category see the complete list of home filing categories.
An asset is defined by the Merriam Webster Dictionary as "the entire property of a person or company that may be used to pay debts." In other words this is your cash, checking accounts, savings accounts, investments, equity in homes, boats, cars, your collectibles, business interests and your real estate.
Most of the documents in this category will be in the form of statements received on a monthly or quarterly basis. It also will take the form of the equity, value less loan balance, on your home and other properties.
If you downloaded the list of categories in the link above you will have a complete list of Assets you will need to organize.
Liabilities are an obligation you have made to repay a debt which was incurred for the purchase of an asset. For example, when you want to purchase an automobile you usually incur the obligation of the car payment. When you purchase a home, a mortgage debt is associated with this major asset.
If you downloaded the list of categories in the link above you will have a complete list of Liabilities you will need to organize.
Many people are intimidated by the area of insurance because it can be complex and detailed. It is sometimes difficult to determine if you are adequately insured, or if you are over insured.
Insurance is an extremely important area that required your attention. Insurance is used to protect your most valuable asset. From your life to your home, the proper amount of insurance is very important.
If you downloaded the list of categories above you will have a complete list of insurance documents to organize.