How to Organise Your Financial Documents

Organise your insurance

We’ve listed this first as it is essential to establishing your financial security. Insurance will help protect your wealth which is partly accounted for through assets. Insurance will significantly reduce your financial loss if an accident was to occur.

  • Gather your policies
  • Remove any unnecessary covers
  • Buy insurance if you need it
  • Keep it together and accessible

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Use secured digital systems

Establish a good record keeping system or location. Having a central location for all your financial documents will give you peace of mind. Digital systems also allow more than one user for access which is great for families. Access your information when you need it with ease.

  • Research different management systems
    • Features
    • Customer reviews
    • Level of security
  • Integrate your financial data
  • Keep the information accessible by mobile
Keep your receipts

If the seller accidentally loses or changes the record of your transaction, a receipt is usually the first and best solution. Advisr is a platform for managing all your insurance policies from one place. Upload all your receipts for record keeping with Advisr’s secure digital platform.

Have a tax folder

Having a tax folder handy with all your essential deductible items will be a lifesaver come end of financial year. It’s as easy as creating a place to store all tax related transactions which you will need when you submit a tax return.

Letter of instruction

Otherwise, known as a will. Although not as commonly known, this is a vital document to organize and keep updated. Did you know that if you don’t have a will and tragedy befalls, the laws of the state determine how your finances are distributed. This means that your family does not have control over your assets and it may not be distributed evenly amongst your family. In some extreme cases, your assets may not be given to your family at all. To avoid all this hassle, get a will and have your assets distributed according to your wishes.

There you have it, a few easy steps towards simplifying your finances. Added benefits include stress reduction, being prepared for unexpected events and peace of mind. You’re now closer to financial organisation than you were before!

 

 

Andy Jamieson

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