These simple tips will help you organize and store your household paperwork

Plus, you'll know exactly where everything is all year round!

April 20, 2020 10:49 a.m. EST

While filing your taxes is never a fun task, keeping your essential paperwork organized throughout the year can make the process a whole lot easier. Now is the perfect time to get your papers sorted and put into a system that will work seamlessly throughout the year! Organizational expert Ysabelle Allard shared the top ways you can organize your paperwork at home.

HAVE A COMMAND CENTRE

An essential part of organizing your paperwork is creating a place where all of your documents can live. Whether you use a small home office or an empty corner in your home, designate a space to your “command centre.” If you primarily use online banking and eStatements for your records, it might still be a good idea to print the most important receipts for your own documentation. You can sort all of your paperwork by category or by month, depending on what works for you, with a simple filing folder. Another great way to stay on top of your receipts and spending is by having a small pouch for on-the-go. As you get receipts, you can add them to the pouch rather than shoving them into your bag or pocket. Having one envelope per month will keep everything organized for the entire year.

Tax tip: You can get a checklist from your accountant or online that lists everything you’ll need to file your taxes. Each time you get a paper that’s on the list, you can put it into the designated envelope and check it off.

CREATE A MASTER BINDER

When it comes to insurance papers, medical info, copies of passports and other important papers, each household should have one master binder. In case of an emergency, all family members should know exactly where the binder is kept. You can organize the binder with tabs to separate each family member's documents or by category.

USE WATERPROOF ENVELOPES FOR IMPORTANT DOCUMENTS

Ideally, you should have all of your important original documents stored in one place. Having a safe is definitely recommended, but if you want to take an additional step of precaution you can opt for waterproof envelopes. From passports to marriage certificates and wills, your most valuable pieces of paper should be placed in a waterproof envelope, especially if your home is prone to flooding. You can place the envelope inside your safe so that it's easy to grab when needed.