Well Darlings, after all of that heavy work we need something a bit lighter.
Ordinarily Darlings, I don’t often recommend books to read unless its periodicals or books dealing with finance, but with such cold, cold weather and I do mean cold darlings, one really wants to just snuggle up in a nice warm blanket with a cup of hot coco, in front of a blazing fireplace, with good soft music, (I love Ella Fitzgerald myself) and a really good read.
Here are several that I found fascinating on the Non-fiction front.
In the Garden of Beasts: Love, terror, and an American Family in Hitler’s Berlin by Erik Larson, what a frightening time for them.
Jacqueline Kennedy: Historic conversations of life with John F. Kenned; interview with Arthur M. Schlesinger, Jr., 1964 by Michael Beschloss, my goodness I love her thoughts, she was not a brainless twit as some people would try to paint her, and I would love to read Michelle Obama’s thoughts on paper as well, considering some of the looks that she delivers during certain moments.
Killing Lincoln by Bill O’Reilly & Martin Dugard, amazing how events turned on this one horrible act.
And for spiritual uplifting reading “Heaven is for real” by Todd Burpo w/ Lynn Vincent, I found myself in tears reading this.
On the Fiction front well I have to confess Darlings I do have my favorites.
With the new Stephanie Plum movie coming out I am re-reading “One for the Money” as well as Janet Evanovich’s latest “Explosive Eighteen”, laughs, laughs and I wish it could be made for T.V. ala “Columbo” it would be a hit.
Sue Grafton never fails to entertain me with her “V is for Vengeance” she still has x, y, and z to go.
I’m including Sandra Brown’s “Lethal” and Lee Child’s “the Affair: a Reacher Novel, and I’ve always adored John Grisham and he does still do justice with “The Litigators, as does James Patterson’s two books with two different collaborators “The Christmas wedding” and “Kill me if you can”
Of course Kathryn Stockett’s book “The Help” is also a fun and eye opening read.
One book that I would recommend as very serious reading on the investment and financial front as well as American history is “That Used to be Us: How America fell behind in the world it invented and how we can come back” by Thomas L. Friedman & Michael Mandelbaum. Not for a cozy winter read but for serious reflection.
And when I say cold Darlings I do mean cold. Juanita and I worried about our small family of ducks that like to, on occasion nest under my plants, so I asked Manuel to build a small shelter and we put bedding hay for them, I was please to see that they took advantage of it ever since it started turning very cold and especially when the weather dropped to near freezing.
Juanita and I covered the more delicate plants with blankets for protection and I threw an old rug on top of the shelter for more insulation. For the last few extremely cold weeks I saw them taking advantage of its protection all snuggled together and Juanita and I put out duck chow for them in large plastic bowls that they partook of. I had to keep Princess in so as to not disturb them.
And Princess my little 4 legged Diva Darling, was so cold even with her sweater on that she begged me to come to my bed, so with a special flannel blanket for her she slept with “Mommy”. Even as I write this I have a heating pad on her chair, set on low so she will not take a chill.
With the weather taking such a freezing dip our walks have not been very long, just a quick dash down about a block and then back. She did learn that we have those special doggie pads on the garage floor all she has to do is just scratch the door, go there quickly and do her business on them. I have a special bin to put the used pad into to dispose of.
And bit by bit we are learning more about drafts and doing some work to eliminate them.
It’s times like these where it is soooo much better to fall back on using flannel pajamas as well as flannel sheets and pillow case and thick warm fuzzy wuzzy slippers. I know darlings, not glamouriest or divaiest, but you’ll be at your warmest.
And speaking of warm, well Darlings, I did run out of the Pumpkin spice liquid creamer but I still have my Pumpkin Spice tea, and it feels so good going down into my tummy (sorry Darling I know that sounds so too-too). But it is the feel good thing I’m going for, and at night when it is fine to use the fireplace I still burn candles for a sense of feeling warm, there is something so cozy about it.
In a few days when Juanita and I go shopping I’m going to get the Hazelnut liquid creamer as we head slowly into spring, which I can hardly wait for.
Until Anon Darlings, Kisses.
Friday, January 27, 2012
Important Papers Review 2012
Once again Dahlings it is time to review what to keep and what to throw away and I am going to be posting from several wonderful sources.
Oprah’s financial guru David Bach has a wonderful list in Chapter 2 of his book “Start Over, Finish Rich” I do recommend that you get and read his entire book which goes into things in depth.
Now he states that “except in cases involving fraud, the statute of
limitations on income-tax returns is only three years, so the Internal
Revenue Service does not expect you to hang on to tax records and receipts
for any longer than that. The main exceptions to this are if you've
underreported your income (in which case you should keep your records for
six years) or have claimed a loss from worthless securities (seven years).
(Personally Darlings I recommend 10 years---I never could trust the I.R.S.)
You should keep records documenting the cost basis of your home
and all your other taxable investments for as long as you own them. The
same goes for the basic documents concerning your retirement accounts and
insurance policies, not to mention all loans and mortgages.”
(This goes without saying and again as long as you own them and for at least 10 years after But consult with a very good Tax attorney about this)
This is Bach’s list of
items you should consider throwing away (or shredding if the documents
contain personal information):
Outdated warranties
Outdated instruction manuals
Outdated wills or trusts (provided you created a new one)
Canceled insurance policies
Credit card statements for closed tax years
Canceled checks for closed tax years
Old brokerage statements for closed tax years (unless they have
cost-basis information you might eventually need)
Old annual reports from stocks and/or mutual funds
Old investment newsletters (some people keep these things for years
because they paid for them—let them go)
Now one person posted this suggestion and it is I consider a very worthy thought
“If you are sorting papers for an elderly person who might need to apply for Medicaid you should know that the Medicaid office will want to see the paper trail,
all documentation for any transaction over $1000. Since there is a five
year look-back period, save all bank statements, brokerage statements,
large receipts for five years, otherwise you'll be spending a lot to get
the bank or broker to reproduce them for you.”
Again I still recommend 7 to 10 years back trail
Now Mr. Bach does have a file organization system that does work wonders but we haven’t covered other papers that you should keep---so let’s take a look at those----
Now I have copied this next bit of information for your personal information it is no longer in print but you can find a copy of it on the internet---and it is vital for your organization.
Keeping Family/Household Records Return to Publications.USA.gov
KEEPING FAMILY/HOUSEHOLD RECORDS
This brochure is no longer available in print. It is based on a chapter
from the U. S. Department of Agriculture's 1973 Yearbook of Agriculture
and has been adapted for use online by the Federal Citizen Information
Center of the General Services Administration as a public service. The
chapter on which this brochure is based was originally prepared by
Constance Burgess, a retired Cooperative Extension consumer education
specialist from the University of California. The information is in the
public domain and you are welcome to reference or copy it for educational
purposes.
What to Discard
When was the last time you couldn't find an important paper you knew you
had carefully put away someplace? How much time do you spend trying to
straighten out your household business affairs, especially at income tax
time?
How, in fact, do people decide what records are important to keep and what
they can discard? How do they decide where to store and keep such records
and papers?
Even though each family or household must work out its own system, some
general guidelines can be helpful. As a starter, ask yourself a few
questions:
How easy or difficult would it be for other members of your household to
figure out your record system? Or…do you even have a system?
Who besides you knows where to turn for necessary information about the
family household assets and obligations?
Do you have a listing of people
who are important contacts, such as tax counselors, attorneys, bankers,
brokers, insurance representatives, employers, creditors, and debtors?
Are you sure titles to property and possessions are held in the best way
for all concerned?
If not, you may want to ask an estate attorney or a
trust officer at your bank for professional assistance.
A good record system will provide a bird's-eye view of what happens to
property after you die or when a member of your household dies.
Other
changes can alter plans too---for example, divorce or separation,
children reaching legal age, a long illness, a lawsuit, a natural
disaster, loss of a job, and retirement.
What happens if the place where you live is burglarized or there's a
fire and records are destroyed?
What do you do when you lose track of
important paper.
Which can be replaced, and how do you go about that?
Which ones cannot be replaced, and what do you do about those?
Papers to Keep in Safe Deposit Boxes
Every family household has some important records. Each of us should have
a birth certificate or an acceptable substitute. Since there are many
occasions when the information on your birth certificate will be needed,
it is important that you keep it in a safe place, preferably in a safe
deposit box.
If you have lost or misplaced birth certificates, consider applying for
replacements now, before there is a pressing need. Otherwise, you may have
to wait for one you need quickly.
State registration of births has been mandatory since 1920, and you can
contact your State agency to get a copy. The Bureau of the Census also
will search its files for proof of age.
By the same token, there will be death certificate for every person
someday. These will be needed occasionally and also are best kept in a
safe deposit box.
If you need to obtain these kinds of records, the publication,
Where to
Write for Vital Records is available for viewing or purchase from the
Federal Citizen Information Center, Pueblo, Colorado 81009.
Other important documents to be kept in your safe deposit box include
marriage certificates, divorce or other legal papers regarding dissolution
of marriage, adoption papers, citizenship records, service papers, and any
other document that is either government or court recorded.
The original
copy of a will, in most cases, is kept in the safe of the attorney who
prepared it.
This is highly desirable, since it may save complications
later.
The client receives two carbon copies, one of which may be put into
his or her own safe deposit box.
However, there could be a legal delay in
getting this copy at his or her death.
The third copy, therefore, should
be kept at home where it is readily accessible.
Some of your important papers, such as investments, are of a business or
financial nature.
Certificates for securities are nonnegotiable (can't be
sold or legally transferred) until they are signed by the owner.
Nevertheless, such certificates can be lost or stolen, and the signature
can be forged.
In either case replacement involves both cost and delay.
Such certificates then, when not left with the broker, should be kept in
the owner's safe deposit box.
Government bonds can be replaced without cost, but there will be a delay
of several months. So it is best to keep these in the box also.
Among other investment-type documents that require safekeeping are papers
that serve as proof of ownership, such as deeds for real estate, other
mortgage papers, contracts, automobile titles (if this applies in your
State), leases, notes, and such special papers as patents and copyrights.
Renting Safe Deposit Boxes
If you don't have a safe deposit box, then consider getting one. The
yearly rental, at your bank or savings and loan company, is inexpensive.
Often the smallest size is adequate, though larger sizes are available at
slightly higher charges.
If you do have a safe deposit box, ask yourself if it is large enough to
hold everything that should be in it-and small enough to keep out things
that don't need to be there. If you store documents from investment
properties or securities, the rental can be claimed as a deduction for
income tax purposes. The box should not be used as a catchall for
souvenirs and unimportant papers.
What Goes In And What Stays Out
A guideline as to what goes in and what stays out of your safe deposit box
might be: Put it in if you can't replace it or if it would be costly or
troublesome to replace.
Many items can be replaced rather easily. Copies of insurance policies can
be obtained from your insurance companies. Copies of cancelled checks are
usually available at your bank. Generally speaking, you do not need to
keep the following in a safe deposit box: income tax returns, education
records, employment records, bankbooks, social security cards, guarantees,
and burial instructions.
Keeping Tax Records
How long should you keep tax records? The Internal Revenue Service has 3
years in which to audit Federal income tax returns.
However, this limit
does not apply in unusual cases. If you failed to report more than 25
percent of your gross income, the Government has 6 years to collect the
tax or to start legal proceedings. Also, there are no time limitations if
you filed a fraudulent return or if you failed to file a return.
But you don't have to keep everything for tax purposes. You can lighten
your record load by discarding certain checks and bills once they have
served their purpose. For example, you can throw away weekly or monthly
salary statements---assuming you are paid in that way---after you check
them against your annual W-2 Form.
But save cancelled checks that relate
directly to an entry on your tax return, and keep all medical bills for 3
years to back up your cancelled checks.
The IRS generally keeps records for 6 years. You can obtain a copy of your
tax return by writing to the IRS center to which your return was sent.
Make sure you include your social security number and a notarized
signature.
Making Household Inventory Records
Among your important papers keep a household inventory. If there is a fire
or burglary in your home, this record will help you remember what has to
be replaced and how much each item is worth. An inventory also may show
that you need to increase your insurance because your possessions are
worth more than you thought.
The best way to go about compiling a household inventory is to start with
a sheet of paper for each room in the house, apartment, etc. Forms on
which to record items are available from several places, sometimes from
your county Extension office.
When you make your inventory, start at one point in the room and go all
the way around, listing everything. For each item, list what it is, how
much it cost, when it was purchased, and what it would cost to replace it.
Include the model number, brand name, dealer's name, and a general
description. If you take pictures of the rooms and your household
possessions, it will make identification or replacement, easier. Arrange
expensive collections, silver, and jewelry separately and take close-up
pictures.
When you have finished all the rooms, including the basement, garage, and
attic, add up the total replacement cost. That figure will represent what
your household is worth and is what your insurance should cover.
Update your inventory every 6 months or so by adding new purchases and
adjusting replacement costs.
Organizing A Home Filing System
A system for personal records is a necessity. No matter how modest your
home facilities might be, you need a special place to keep your papers.
That could be as elaborate as a room or home office or as simple as a
corner of the kitchen, bedroom, or hall.
Records, regardless of the filing system used, should be reviewed at least
once a year to discard items no longer needed. January is a good time for
an overhaul, since it's just before you begin to work on taxes.
The equipment you will need doesn't have to be elaborate. Think about a
filing cabinet before you think about a desk. The two-drawer type can be
covered with paint or wallpaper. A wooden slab or hollow-core door
stretched across the top of two cabinets can make a practical home office
desk.
If you don't have space for a small cabinet, buy accordion folders, a
storage chest that fits under the bed, or get sturdy cardboard boxes of an
appropriate size.
A home computer or portable typewriter and a pocket calculator can be
handy, but they are not essential. The essential thing is to know where
everything is.
Two Home Files
You should keep two home files, in addition to your safe deposit box at
the bank. These two files are your active file and your dead storage file.
Your active file will hold:
1) unpaid bills until paid,
2) paid bill receipts,
3) current bank statements,
4) current cancelled checks,
5) income tax working papers. After 3 years, move these items to your dead
storage file. --- Be sure to hold to for 10 years.
There are other items which should always be kept in your active file.
These include:
1) employment records, such as resumes, recommendation
letters, health benefit information;
2) credit card information, including
the number of each card, by company name;
3) insurance policies;
4) copies of wills;
5) family health records;
6) appliance manuals and warranties;
7) education information, such as transcripts, diplomas, etc.;
8) Social Security information on benefits and regulations;
9) an inventory of what's in your safe deposit box (you might store a key in the inventory
folder).
Finally, keep a record book of the whereabouts of your important papers.
If you use a loose-leaf binder, you will be able to change papers easily
or copy a page or two.
The book should contain a list of all your savings and checking accounts.
This way you won't become one of the missing depositors who have forgotten
their accounts or who have died without telling relatives about them.
Also, include the name and branch of the bank where you keep your safe
deposit box.
The book also should have all of the family members' social security
numbers, and all of the insurance policy information.
It's a good idea to
keep a copy of your household inventory here as well.
Don't forget to
record all your household improvements.
Finally, make sure someone else knows and understands the family
record-keeping system.
Some things not covered in this list is a durable power of attorney and a medical power of attorney and a medical directive, this should be in your safe deposit box, a copy in your active file, a copy with a trusted blood relative as well as your spouse/significant other.
And directions for your funeral arrangements.
Preparing A Net Worth Statement
Have you tried filling out a net worth statement as a means of keeping
tabs on yourself and your family possessions? Such a record provides a
good overall picture and can be prepared in an hour or less. If you do it
annually, you can see quickly whether you are getting ahead financially or
falling behind and, in either case, how fast.
An accurate net worth statement can serve as a point of departure for the
year ahead. If you're not making as much progress financially as you had
expected to, you can decide whether to stay on course or to change
directions for the coming year.
Where are you going to find a net worth
form that will meet your needs? Try your county Cooperative Extension
Service office. Or ask at your bank. Better yet, perhaps you can make one
to fit your family.
All you do is list your assets, list your obligations,
and subtract the debts from the assets. Hopefully the plus side of the
ledger will get larger each year and the minus side smaller. But there may
be good reasons why you'll fall behind sometimes, such as when you buy a
new home or when other expenses are heavier than usual.
THINGS TO REMEMBER
Use the checklist chart below to remind yourself what to keep and what you
can discard.
Safe Deposit Box
Birth Certificates
Citizenship Papers
Marriage Certificates
Adoption Papers
Divorce Decrees
Wills
Death Certificates
Deeds
Titles to Automobiles
Household Inventory
Veteran's Papers
Bonds and Stock Certificates
Important Contracts
Active File
Tax Receipts
Unpaid Bills
Paid Bill Receipts
Current Bank Statements
Current Cancelled Checks
Income Tax Working Papers
Employment Records
Health Benefit Information
Credit Card Information
Insurance Policies
Copies of Wills
Family Health Records
Appliance Manuals and Warranties
Receipts of Items Under Warranty
Education Information
Inventory of Safe Deposit Box (and key)
Loan Statements
Loan Payment Books
Receipts of Expensive Items Not Yet Paid For
Dead Storage
All Active File Papers Over 3 Years Old
Items To Discard
Salary Statements (after checking on W-2 Form)
Cancelled Checks for Cash or Nondeductible Expenses
Expired Warranties
Coupons After Expiration Date
Other Records No Longer Needed see further above.
Julia Morgenstern in Oprah’s magazine for Sept 2004 gave this general guide of what to keep and for how long---
"How long should I keep certain papers?" It is
imperative that you check with your accountant and/or lawyer before throwing out
any financial or legal papers, because they know most about your individual
situation.
Here's a general guide of what to keep and for how long.
What to Keep and For How Long
Automobile records (titles, registration, repairs)—As long as you own the
vehicle(s)
Appointment books—1 to 10 years, depending on your comfort level
ATM slips—Maximum six years if needed for tax purposes
Bank statements—Maximum six years if needed for tax purposes
Credit card statements—Maximum six years if tax-related purchases on statements;
otherwise, until annual interest statement is issued by company
Calendars (past)—According to your comfort level and whether you use them for
reference or memorabilia
Catalogs and magazines—Until the next issue
Dividend payment records—Until an annual statement is supplied by company, then
just only annual statements
Household inventory and appraisal—As long as current, review at least once a year.
Insurance policies (auto, homeowners, liability)—As long as the statute of
limitations runs in the event of late claims
Insurance policies (disability, medical, life, personal property, umbrella)—As
long as you own it
Investments (purchase records)—As long as you own them
Investments (sales records)—Maximum six years for tax purposes could strech
to 10 years
Mortgage or loan discharge—As long as you own, or six years after discharge or 10
Receipts
Appliances—As long as you own the item
Art, antiques, collectibles—As long as you own the item
Clothing—For the length of the returns period, unless tracking your household
budget
Credit card slips—Until your statement comes and you can match purchases
Furniture—As long as you own the item in case repair is needed
Home improvements—As long as you own your home, or six years after sale
Household repairs—For life of warranty, or longer to reference reliability
record of service people and their rates
Major purchases—For the life of the item
Medical and tax-related—Maximum of six years to 10
Rent—Your canceled check is sufficient unless you make the mistake of paying
cash then it's best to switch to using a U.S. Postal Money Order and label it "Rent"
and get a receipt no matter what, demand it.
Utility bills—Your current bill and one previous year's to check billing
patterns
Warranties and instructions—For the life of warranty or the item. Stick label
with warranty expiration date and service repair number on bottom of appliance.
If something breaks down, you've got an easy way to check if the item's still
covered without even having to go to your file drawer.
Property bill of purchase—As long as you own the property
Résumé—As long as it's current
Safe Deposit Box key and inventory—As long as it's current
Tax records (bank statements and canceled checks, certificates of deposit,
contracts, charitable contributions, credit statements, income tax returns,
lease and loan agreements, loan payment books, pension plan records, pay
stubs)—The current year, plus six prior years to 10
Vital Records (Adoption papers, birth & death certificates, citizenship papers,
copyrights/patents, marriage certificate, divorce decree, letter of "Last
Instructions" to executor or heirs, medical illness and vaccination records,
passports, Power of Attorney, Social Security records, Wills)—Permanently
Now that you know how long to hang on to important papers, set up a file folder
system that works for you!
And every year you should do this---prepare a----
NET WORTH STATEMENT as of ________________
(update annually)
Assets
Cash on Hand$______________
Bank accounts (checking and savings)$______________
Credit Union account$______________
Savings & loan accounts$______________
Any other savings accounts$______________
House, market value$______________
Other real estate, value$______________
Household furnishings, value$______________
Automobile(s), blue book value$______________
Life insurance, cash value$______________
Stocks and bonds, today's value$______________
Profit-sharing or retirement plans$______________
U.S. Savings Bonds$______________
Money owed you$______________
Other assets or investments$______________
Personal property$______________
Total Assets$______________
Obligations
Mortgages, balance due$______________
Other loans (bank, credit union)$______________
Installment debts, balance due$______________
Credit cards, balance due$______________
Charge accounts, owed$______________
Other debts, total owed$______________
Insurance premiums due$______________
Taxes owed$______________
Other current bills$______________
Total Debts$______________
Net Worth (assets minus debts)$______________
Now a friend of mine has her active and inactive files in two 2 drawer cabinets, but she also invested in a 4 drawer cabinet because of her children’s information again label the cabinet drawers to cover each child.
Remember Darlings, you are the C.E.O. of your life and should you get married, of your family’s life.
Until Anon, Kisses Darlings
Oprah’s financial guru David Bach has a wonderful list in Chapter 2 of his book “Start Over, Finish Rich” I do recommend that you get and read his entire book which goes into things in depth.
Now he states that “except in cases involving fraud, the statute of
limitations on income-tax returns is only three years, so the Internal
Revenue Service does not expect you to hang on to tax records and receipts
for any longer than that. The main exceptions to this are if you've
underreported your income (in which case you should keep your records for
six years) or have claimed a loss from worthless securities (seven years).
(Personally Darlings I recommend 10 years---I never could trust the I.R.S.)
You should keep records documenting the cost basis of your home
and all your other taxable investments for as long as you own them. The
same goes for the basic documents concerning your retirement accounts and
insurance policies, not to mention all loans and mortgages.”
(This goes without saying and again as long as you own them and for at least 10 years after But consult with a very good Tax attorney about this)
This is Bach’s list of
items you should consider throwing away (or shredding if the documents
contain personal information):
Outdated warranties
Outdated instruction manuals
Outdated wills or trusts (provided you created a new one)
Canceled insurance policies
Credit card statements for closed tax years
Canceled checks for closed tax years
Old brokerage statements for closed tax years (unless they have
cost-basis information you might eventually need)
Old annual reports from stocks and/or mutual funds
Old investment newsletters (some people keep these things for years
because they paid for them—let them go)
Now one person posted this suggestion and it is I consider a very worthy thought
“If you are sorting papers for an elderly person who might need to apply for Medicaid you should know that the Medicaid office will want to see the paper trail,
all documentation for any transaction over $1000. Since there is a five
year look-back period, save all bank statements, brokerage statements,
large receipts for five years, otherwise you'll be spending a lot to get
the bank or broker to reproduce them for you.”
Again I still recommend 7 to 10 years back trail
Now Mr. Bach does have a file organization system that does work wonders but we haven’t covered other papers that you should keep---so let’s take a look at those----
Now I have copied this next bit of information for your personal information it is no longer in print but you can find a copy of it on the internet---and it is vital for your organization.
Keeping Family/Household Records Return to Publications.USA.gov
KEEPING FAMILY/HOUSEHOLD RECORDS
This brochure is no longer available in print. It is based on a chapter
from the U. S. Department of Agriculture's 1973 Yearbook of Agriculture
and has been adapted for use online by the Federal Citizen Information
Center of the General Services Administration as a public service. The
chapter on which this brochure is based was originally prepared by
Constance Burgess, a retired Cooperative Extension consumer education
specialist from the University of California. The information is in the
public domain and you are welcome to reference or copy it for educational
purposes.
What to Discard
When was the last time you couldn't find an important paper you knew you
had carefully put away someplace? How much time do you spend trying to
straighten out your household business affairs, especially at income tax
time?
How, in fact, do people decide what records are important to keep and what
they can discard? How do they decide where to store and keep such records
and papers?
Even though each family or household must work out its own system, some
general guidelines can be helpful. As a starter, ask yourself a few
questions:
How easy or difficult would it be for other members of your household to
figure out your record system? Or…do you even have a system?
Who besides you knows where to turn for necessary information about the
family household assets and obligations?
Do you have a listing of people
who are important contacts, such as tax counselors, attorneys, bankers,
brokers, insurance representatives, employers, creditors, and debtors?
Are you sure titles to property and possessions are held in the best way
for all concerned?
If not, you may want to ask an estate attorney or a
trust officer at your bank for professional assistance.
A good record system will provide a bird's-eye view of what happens to
property after you die or when a member of your household dies.
Other
changes can alter plans too---for example, divorce or separation,
children reaching legal age, a long illness, a lawsuit, a natural
disaster, loss of a job, and retirement.
What happens if the place where you live is burglarized or there's a
fire and records are destroyed?
What do you do when you lose track of
important paper.
Which can be replaced, and how do you go about that?
Which ones cannot be replaced, and what do you do about those?
Papers to Keep in Safe Deposit Boxes
Every family household has some important records. Each of us should have
a birth certificate or an acceptable substitute. Since there are many
occasions when the information on your birth certificate will be needed,
it is important that you keep it in a safe place, preferably in a safe
deposit box.
If you have lost or misplaced birth certificates, consider applying for
replacements now, before there is a pressing need. Otherwise, you may have
to wait for one you need quickly.
State registration of births has been mandatory since 1920, and you can
contact your State agency to get a copy. The Bureau of the Census also
will search its files for proof of age.
By the same token, there will be death certificate for every person
someday. These will be needed occasionally and also are best kept in a
safe deposit box.
If you need to obtain these kinds of records, the publication,
Where to
Write for Vital Records is available for viewing or purchase from the
Federal Citizen Information Center, Pueblo, Colorado 81009.
Other important documents to be kept in your safe deposit box include
marriage certificates, divorce or other legal papers regarding dissolution
of marriage, adoption papers, citizenship records, service papers, and any
other document that is either government or court recorded.
The original
copy of a will, in most cases, is kept in the safe of the attorney who
prepared it.
This is highly desirable, since it may save complications
later.
The client receives two carbon copies, one of which may be put into
his or her own safe deposit box.
However, there could be a legal delay in
getting this copy at his or her death.
The third copy, therefore, should
be kept at home where it is readily accessible.
Some of your important papers, such as investments, are of a business or
financial nature.
Certificates for securities are nonnegotiable (can't be
sold or legally transferred) until they are signed by the owner.
Nevertheless, such certificates can be lost or stolen, and the signature
can be forged.
In either case replacement involves both cost and delay.
Such certificates then, when not left with the broker, should be kept in
the owner's safe deposit box.
Government bonds can be replaced without cost, but there will be a delay
of several months. So it is best to keep these in the box also.
Among other investment-type documents that require safekeeping are papers
that serve as proof of ownership, such as deeds for real estate, other
mortgage papers, contracts, automobile titles (if this applies in your
State), leases, notes, and such special papers as patents and copyrights.
Renting Safe Deposit Boxes
If you don't have a safe deposit box, then consider getting one. The
yearly rental, at your bank or savings and loan company, is inexpensive.
Often the smallest size is adequate, though larger sizes are available at
slightly higher charges.
If you do have a safe deposit box, ask yourself if it is large enough to
hold everything that should be in it-and small enough to keep out things
that don't need to be there. If you store documents from investment
properties or securities, the rental can be claimed as a deduction for
income tax purposes. The box should not be used as a catchall for
souvenirs and unimportant papers.
What Goes In And What Stays Out
A guideline as to what goes in and what stays out of your safe deposit box
might be: Put it in if you can't replace it or if it would be costly or
troublesome to replace.
Many items can be replaced rather easily. Copies of insurance policies can
be obtained from your insurance companies. Copies of cancelled checks are
usually available at your bank. Generally speaking, you do not need to
keep the following in a safe deposit box: income tax returns, education
records, employment records, bankbooks, social security cards, guarantees,
and burial instructions.
Keeping Tax Records
How long should you keep tax records? The Internal Revenue Service has 3
years in which to audit Federal income tax returns.
However, this limit
does not apply in unusual cases. If you failed to report more than 25
percent of your gross income, the Government has 6 years to collect the
tax or to start legal proceedings. Also, there are no time limitations if
you filed a fraudulent return or if you failed to file a return.
But you don't have to keep everything for tax purposes. You can lighten
your record load by discarding certain checks and bills once they have
served their purpose. For example, you can throw away weekly or monthly
salary statements---assuming you are paid in that way---after you check
them against your annual W-2 Form.
But save cancelled checks that relate
directly to an entry on your tax return, and keep all medical bills for 3
years to back up your cancelled checks.
The IRS generally keeps records for 6 years. You can obtain a copy of your
tax return by writing to the IRS center to which your return was sent.
Make sure you include your social security number and a notarized
signature.
Making Household Inventory Records
Among your important papers keep a household inventory. If there is a fire
or burglary in your home, this record will help you remember what has to
be replaced and how much each item is worth. An inventory also may show
that you need to increase your insurance because your possessions are
worth more than you thought.
The best way to go about compiling a household inventory is to start with
a sheet of paper for each room in the house, apartment, etc. Forms on
which to record items are available from several places, sometimes from
your county Extension office.
When you make your inventory, start at one point in the room and go all
the way around, listing everything. For each item, list what it is, how
much it cost, when it was purchased, and what it would cost to replace it.
Include the model number, brand name, dealer's name, and a general
description. If you take pictures of the rooms and your household
possessions, it will make identification or replacement, easier. Arrange
expensive collections, silver, and jewelry separately and take close-up
pictures.
When you have finished all the rooms, including the basement, garage, and
attic, add up the total replacement cost. That figure will represent what
your household is worth and is what your insurance should cover.
Update your inventory every 6 months or so by adding new purchases and
adjusting replacement costs.
Organizing A Home Filing System
A system for personal records is a necessity. No matter how modest your
home facilities might be, you need a special place to keep your papers.
That could be as elaborate as a room or home office or as simple as a
corner of the kitchen, bedroom, or hall.
Records, regardless of the filing system used, should be reviewed at least
once a year to discard items no longer needed. January is a good time for
an overhaul, since it's just before you begin to work on taxes.
The equipment you will need doesn't have to be elaborate. Think about a
filing cabinet before you think about a desk. The two-drawer type can be
covered with paint or wallpaper. A wooden slab or hollow-core door
stretched across the top of two cabinets can make a practical home office
desk.
If you don't have space for a small cabinet, buy accordion folders, a
storage chest that fits under the bed, or get sturdy cardboard boxes of an
appropriate size.
A home computer or portable typewriter and a pocket calculator can be
handy, but they are not essential. The essential thing is to know where
everything is.
Two Home Files
You should keep two home files, in addition to your safe deposit box at
the bank. These two files are your active file and your dead storage file.
Your active file will hold:
1) unpaid bills until paid,
2) paid bill receipts,
3) current bank statements,
4) current cancelled checks,
5) income tax working papers. After 3 years, move these items to your dead
storage file. --- Be sure to hold to for 10 years.
There are other items which should always be kept in your active file.
These include:
1) employment records, such as resumes, recommendation
letters, health benefit information;
2) credit card information, including
the number of each card, by company name;
3) insurance policies;
4) copies of wills;
5) family health records;
6) appliance manuals and warranties;
7) education information, such as transcripts, diplomas, etc.;
8) Social Security information on benefits and regulations;
9) an inventory of what's in your safe deposit box (you might store a key in the inventory
folder).
Finally, keep a record book of the whereabouts of your important papers.
If you use a loose-leaf binder, you will be able to change papers easily
or copy a page or two.
The book should contain a list of all your savings and checking accounts.
This way you won't become one of the missing depositors who have forgotten
their accounts or who have died without telling relatives about them.
Also, include the name and branch of the bank where you keep your safe
deposit box.
The book also should have all of the family members' social security
numbers, and all of the insurance policy information.
It's a good idea to
keep a copy of your household inventory here as well.
Don't forget to
record all your household improvements.
Finally, make sure someone else knows and understands the family
record-keeping system.
Some things not covered in this list is a durable power of attorney and a medical power of attorney and a medical directive, this should be in your safe deposit box, a copy in your active file, a copy with a trusted blood relative as well as your spouse/significant other.
And directions for your funeral arrangements.
Preparing A Net Worth Statement
Have you tried filling out a net worth statement as a means of keeping
tabs on yourself and your family possessions? Such a record provides a
good overall picture and can be prepared in an hour or less. If you do it
annually, you can see quickly whether you are getting ahead financially or
falling behind and, in either case, how fast.
An accurate net worth statement can serve as a point of departure for the
year ahead. If you're not making as much progress financially as you had
expected to, you can decide whether to stay on course or to change
directions for the coming year.
Where are you going to find a net worth
form that will meet your needs? Try your county Cooperative Extension
Service office. Or ask at your bank. Better yet, perhaps you can make one
to fit your family.
All you do is list your assets, list your obligations,
and subtract the debts from the assets. Hopefully the plus side of the
ledger will get larger each year and the minus side smaller. But there may
be good reasons why you'll fall behind sometimes, such as when you buy a
new home or when other expenses are heavier than usual.
THINGS TO REMEMBER
Use the checklist chart below to remind yourself what to keep and what you
can discard.
Safe Deposit Box
Birth Certificates
Citizenship Papers
Marriage Certificates
Adoption Papers
Divorce Decrees
Wills
Death Certificates
Deeds
Titles to Automobiles
Household Inventory
Veteran's Papers
Bonds and Stock Certificates
Important Contracts
Active File
Tax Receipts
Unpaid Bills
Paid Bill Receipts
Current Bank Statements
Current Cancelled Checks
Income Tax Working Papers
Employment Records
Health Benefit Information
Credit Card Information
Insurance Policies
Copies of Wills
Family Health Records
Appliance Manuals and Warranties
Receipts of Items Under Warranty
Education Information
Inventory of Safe Deposit Box (and key)
Loan Statements
Loan Payment Books
Receipts of Expensive Items Not Yet Paid For
Dead Storage
All Active File Papers Over 3 Years Old
Items To Discard
Salary Statements (after checking on W-2 Form)
Cancelled Checks for Cash or Nondeductible Expenses
Expired Warranties
Coupons After Expiration Date
Other Records No Longer Needed see further above.
Julia Morgenstern in Oprah’s magazine for Sept 2004 gave this general guide of what to keep and for how long---
"How long should I keep certain papers?" It is
imperative that you check with your accountant and/or lawyer before throwing out
any financial or legal papers, because they know most about your individual
situation.
Here's a general guide of what to keep and for how long.
What to Keep and For How Long
Automobile records (titles, registration, repairs)—As long as you own the
vehicle(s)
Appointment books—1 to 10 years, depending on your comfort level
ATM slips—Maximum six years if needed for tax purposes
Bank statements—Maximum six years if needed for tax purposes
Credit card statements—Maximum six years if tax-related purchases on statements;
otherwise, until annual interest statement is issued by company
Calendars (past)—According to your comfort level and whether you use them for
reference or memorabilia
Catalogs and magazines—Until the next issue
Dividend payment records—Until an annual statement is supplied by company, then
just only annual statements
Household inventory and appraisal—As long as current, review at least once a year.
Insurance policies (auto, homeowners, liability)—As long as the statute of
limitations runs in the event of late claims
Insurance policies (disability, medical, life, personal property, umbrella)—As
long as you own it
Investments (purchase records)—As long as you own them
Investments (sales records)—Maximum six years for tax purposes could strech
to 10 years
Mortgage or loan discharge—As long as you own, or six years after discharge or 10
Receipts
Appliances—As long as you own the item
Art, antiques, collectibles—As long as you own the item
Clothing—For the length of the returns period, unless tracking your household
budget
Credit card slips—Until your statement comes and you can match purchases
Furniture—As long as you own the item in case repair is needed
Home improvements—As long as you own your home, or six years after sale
Household repairs—For life of warranty, or longer to reference reliability
record of service people and their rates
Major purchases—For the life of the item
Medical and tax-related—Maximum of six years to 10
Rent—Your canceled check is sufficient unless you make the mistake of paying
cash then it's best to switch to using a U.S. Postal Money Order and label it "Rent"
and get a receipt no matter what, demand it.
Utility bills—Your current bill and one previous year's to check billing
patterns
Warranties and instructions—For the life of warranty or the item. Stick label
with warranty expiration date and service repair number on bottom of appliance.
If something breaks down, you've got an easy way to check if the item's still
covered without even having to go to your file drawer.
Property bill of purchase—As long as you own the property
Résumé—As long as it's current
Safe Deposit Box key and inventory—As long as it's current
Tax records (bank statements and canceled checks, certificates of deposit,
contracts, charitable contributions, credit statements, income tax returns,
lease and loan agreements, loan payment books, pension plan records, pay
stubs)—The current year, plus six prior years to 10
Vital Records (Adoption papers, birth & death certificates, citizenship papers,
copyrights/patents, marriage certificate, divorce decree, letter of "Last
Instructions" to executor or heirs, medical illness and vaccination records,
passports, Power of Attorney, Social Security records, Wills)—Permanently
Now that you know how long to hang on to important papers, set up a file folder
system that works for you!
And every year you should do this---prepare a----
NET WORTH STATEMENT as of ________________
(update annually)
Assets
Cash on Hand$______________
Bank accounts (checking and savings)$______________
Credit Union account$______________
Savings & loan accounts$______________
Any other savings accounts$______________
House, market value$______________
Other real estate, value$______________
Household furnishings, value$______________
Automobile(s), blue book value$______________
Life insurance, cash value$______________
Stocks and bonds, today's value$______________
Profit-sharing or retirement plans$______________
U.S. Savings Bonds$______________
Money owed you$______________
Other assets or investments$______________
Personal property$______________
Total Assets$______________
Obligations
Mortgages, balance due$______________
Other loans (bank, credit union)$______________
Installment debts, balance due$______________
Credit cards, balance due$______________
Charge accounts, owed$______________
Other debts, total owed$______________
Insurance premiums due$______________
Taxes owed$______________
Other current bills$______________
Total Debts$______________
Net Worth (assets minus debts)$______________
Now a friend of mine has her active and inactive files in two 2 drawer cabinets, but she also invested in a 4 drawer cabinet because of her children’s information again label the cabinet drawers to cover each child.
Remember Darlings, you are the C.E.O. of your life and should you get married, of your family’s life.
Until Anon, Kisses Darlings
Time to start the new year~~~
Well Dahlings, once again it’s Tax Time---how awful and how boring, but it must be done.
The first thing I do recommend to all you wonderful Diva’s is always get a very good tax preparer, it really is worth it to have someone do the taxes for you, and it saves you the head ache and worry about putting things off, then racing at the last minute to do it.
Now if you are starting out in life to make the Diva bucks, if you are buying stocks, bonds, mutual funds etc. and are receiving some dividends from them either profit or loss, then you may want to consider someone with more experience than H. & R. Block.
But, if right now you are working to earn the money to invest, then H & R Block is just fine to start with. If you are renting, even sharing an apartment you still must make sure that you know exactly where your deductions are. Even if you think all you can fill out is a 1040 EZ form, it doesn’t hurt to discover what deductions you can take. You maybe surprised.
Each year the tax laws change either a little or a lot, so it pays to keep up with any possible changes and ask your tax preparer about them if they would apply to you.
Barron’s January 9, 2012 issue is well worth a very serious read about Mutual funds and how to keep your cash safe and still earn a return.
It also mentions one of my favorite investment funds, Sequoia Fund (ticker: SEQUX) it has been thriving in this depressed market, and when they shifted into pharmaceuticals I realized they were operating the way I liked. I mean Darlings everyone needs medicine.
For an interesting read about the future of office work read the January 16, 2012 issue of Fortune, is shows the way how in the future technology, energy, banking, offices, education etc. will operate, and read it very, very carefully darlings for what you should consider as future investments, I think I would not be amiss in suggesting Bio-fuels.
The AARP magazine (yes Darlings I am of an age) for Dec. 2011/Jan. 2012 includes an excellent article about how to boost your retirement nest egg, one that I think all Diva’s should take to heart.
I’ve been enjoying reading the Jan/Feb. 2012 issue of Money magazine, the investor’s guide issue. One thing they do talk about is how to set up your portfolio for retirement, the article is titled “The easy way to stay on track.”
Darlings it is always wise to see if your investment portfolio is doing what you want it to do, especially in these roller coaster times.
But this issue includes not only retirement but good and bad ideas for home remodeling, health and other issues in one’s life. Definitely something to read cover to cover and keep on file for reference.
Now another thing I’m going to mention is this, insurance, I’m not talking about car, house, rental or medical insurance although all of those are very, very important. I’m going to briefly mention life insurance, yes Darlings, Life Insurance. Look for an insurance plan that will cover you both alive and dead and do not look into a Term Life Insurance even though they sound good and inexpensive, part of that problem is that if you need to cash it out early, you can’t…it is money lost, and it’s only for a limited amount of time, in most cases only up to the age of 80. But with the milestones they are making in health care, and you take very, very good care of yourself you could easily live till your 100 or beyond and still be having a Diva Life, but a term life insurance will not go past the age of 80.
Look for an insurance that will be for your full life time and that will pay you back should you need to cash it out, it may cost more, but it’s like money in the bank.
And if you get it while you are young and healthy it is so much cheaper.
Until Annon, Kisses Darlings.
The first thing I do recommend to all you wonderful Diva’s is always get a very good tax preparer, it really is worth it to have someone do the taxes for you, and it saves you the head ache and worry about putting things off, then racing at the last minute to do it.
Now if you are starting out in life to make the Diva bucks, if you are buying stocks, bonds, mutual funds etc. and are receiving some dividends from them either profit or loss, then you may want to consider someone with more experience than H. & R. Block.
But, if right now you are working to earn the money to invest, then H & R Block is just fine to start with. If you are renting, even sharing an apartment you still must make sure that you know exactly where your deductions are. Even if you think all you can fill out is a 1040 EZ form, it doesn’t hurt to discover what deductions you can take. You maybe surprised.
Each year the tax laws change either a little or a lot, so it pays to keep up with any possible changes and ask your tax preparer about them if they would apply to you.
Barron’s January 9, 2012 issue is well worth a very serious read about Mutual funds and how to keep your cash safe and still earn a return.
It also mentions one of my favorite investment funds, Sequoia Fund (ticker: SEQUX) it has been thriving in this depressed market, and when they shifted into pharmaceuticals I realized they were operating the way I liked. I mean Darlings everyone needs medicine.
For an interesting read about the future of office work read the January 16, 2012 issue of Fortune, is shows the way how in the future technology, energy, banking, offices, education etc. will operate, and read it very, very carefully darlings for what you should consider as future investments, I think I would not be amiss in suggesting Bio-fuels.
The AARP magazine (yes Darlings I am of an age) for Dec. 2011/Jan. 2012 includes an excellent article about how to boost your retirement nest egg, one that I think all Diva’s should take to heart.
I’ve been enjoying reading the Jan/Feb. 2012 issue of Money magazine, the investor’s guide issue. One thing they do talk about is how to set up your portfolio for retirement, the article is titled “The easy way to stay on track.”
Darlings it is always wise to see if your investment portfolio is doing what you want it to do, especially in these roller coaster times.
But this issue includes not only retirement but good and bad ideas for home remodeling, health and other issues in one’s life. Definitely something to read cover to cover and keep on file for reference.
Now another thing I’m going to mention is this, insurance, I’m not talking about car, house, rental or medical insurance although all of those are very, very important. I’m going to briefly mention life insurance, yes Darlings, Life Insurance. Look for an insurance plan that will cover you both alive and dead and do not look into a Term Life Insurance even though they sound good and inexpensive, part of that problem is that if you need to cash it out early, you can’t…it is money lost, and it’s only for a limited amount of time, in most cases only up to the age of 80. But with the milestones they are making in health care, and you take very, very good care of yourself you could easily live till your 100 or beyond and still be having a Diva Life, but a term life insurance will not go past the age of 80.
Look for an insurance that will be for your full life time and that will pay you back should you need to cash it out, it may cost more, but it’s like money in the bank.
And if you get it while you are young and healthy it is so much cheaper.
Until Annon, Kisses Darlings.
A home office
Hello All you Diva Darlings!
Are you ready to start the New Year including Chinese New Year?? I hope so. It’s going to be a very interesting one with all the political fencing that we are simply going to be bored to death with.
Frankly among the early republican hopefuls there is not a single good person among them at all. Where is Ronald Regan when you need him??!!
Alright Darlings, not everyone was enamored by Ronnie, I’ll concede that, but still……
Now Darlings, I have been a busy little bee writing up various posts and I have been during our cold, rainy days---although we do need the rain---writing a lot of posts. But I have broken them down as to what they should cover.
Some of my Diva’s in training have asked me how to set up a “home office”, even if it’s only for their personal use.
(Thank you Jennifer, Dianna, Nancy, Lynda, Becky) I didn’t post their comments because the questions were pretty much the same.
Well first Darlings, you need to set aside a space that you have to say is your “Office”, whether it’s a corner in the kitchen or you have a room to outfit. Second, this desk or office area is off-limits to other family members, no touching at all.
I know of one lady who simply raged that her husband and children would not keep their hands off of her desk, computer etc. while she went to take care of other things, only to come back and find everything including important bills and papers, completely dis-organized, so much so that she had to spend a considerable amount of time putting it back in order.
She was so angry about it that she threatened divorce and told her husband he could keep the kiddies and then he’d learn what it was like to deal with them.
Fortunately her hubby was not dense, after all he had his “man-cave” and the children (3 boys) could invade there especially during the games. But the children simply thought that anything that was Mom’s was theirs---not so when it comes to bill paying or anything, even Mom’s purse is off limits.
Her hubby realized she needed what in Victorian times would have been called “The Morning Room”, they had a good size garden and part of it was under underutilized (aka weedy), so instead of giving her diamonds, he had built for her “A Room of Her Own”, complete with electricity, phone, and computer connections, now the room was bare, no carpets, not painted, not furnished, but she envisioned what it should look like and where the connections and outlets should be and it was so.
Then he let her choose what she wanted in it, oh and did I forget, but he also made sure that it was properly done so she could run a space heater without blowing out anything.
And she has the key---kiddies not allowed, unless the house is burning down.
But lets say that you have in your home a spare room, maybe a room that is too small to be a bed room or a man-cave, or you have an over large kitchen with a convenient corner.
Asses the space to figure out what will fit, and that will require taking photos and measurements, and doing a grid.
Then you need to find a good desk that will fit the space that you have in mind, now some people will have an “L” shaped desk, one side to hold the computer and the other for a flat space to write out or sort things.
Then you need to have at least a 2 drawer file cabinet, it helps if it’s a locking file cabinet.
The cheapest way to create a desk is to get two 2 drawer file cabinets and put on top of them a standard hollow core door, with one cabinet for active files and the other for dead files.
I also suggest a fire proof safe to hold things like insurance papers, mortgage papers, social security cards, birth certificates and that is just for starters.
You need to assess the types of office supply materials you’ll need.
And for that you need these essentials:
Comfortable desk chair
Desk lamp (those with the movable head)
Holder to hold incoming mail,
Shredder,
Scissors
Waste basket
Calculator,
magnifying glass,
stapler/staples,
scotch tape and dispenser,
pens/pencils,
envelopes legal size,
letter size paper,
letter opener,
12 inch/18 inch ruler, 1 yard stick (36 inches),
cheap note pad to do calculations,
Stamps,
Rubber bands
File to hold seasonal or special occasion cards (birthdays, anniversaries etc.)
Files to hold paid bills, these will go into the file cabinet.
Cash book---now this is important---I use a cash book and write down monthly what bills need to come in and when, I check off if they have arrived, then check off if they have been paid
Large calendar, and have it so you can see three months ahead, write on it when and what bills should be paid and when it should be mailed, I also use the calendar to note when I will be getting deposits into my various accounts, then I call to check to see what has been deposited and note my balance. This calendar should include medical/dental appointments, birthdays, anniversaries, any upcoming events like when school lets out for the Summer, etc.
Special holder to hold outgoing bills/letters/cards that you are mailing,
You will need a magazine file holder to hold the current catalogues that you get, mark on them when received and rotate them out when the next one comes in,
File to hold menus for take out in case you don’t feel like cooking; rotate those once a year to update prices.
Rack to hold Labled spare keys (this to be mounted on the wall)
Printer for computer
Scanner for Computer
A table to hold both printer and scanner.
Now you may not need all of this but in time you will discover what is very handy.
I also have a check file to hold my duplicate carbons for my checks as well as the check registers and I keep clipped together all my receipts, especially when I use my debt card and credit card, I do not get rid of them until I have resolved my statements, some receipts you need to hold onto in case you have to return an item or gift, so mark those receipts as such and some maybe be needed for income tax purposes.
Now how often should you reconcile your checkbook, well Darlings I maybe paranoid but I do it every other day, I also list what is pending and what is outstanding, this is especially important during the holidays or if you are heavy into using your debt card to pay for everything, you don’t want to over draft your account.
Another reason is that of late thieves are very big into “skimming” cards at Grocery stores, gas stations, ATM’s etc. so by checking every other day you’d be quick to catch any unauthorized spending, also it does pay to use your debt card as a credit card or to use your credit card as you have a better chance of reversing unauthorized transactions.
Now a new list has come out on paperwork that you will need to keep, and one of the most important questions that is asked is----
"How long should I keep certain papers?"
It is imperative that you check with your accountant and/or lawyer before throwing out any financial or legal papers, because they know most about your individual situation.
Because each person’s situation is unique there are times when it is important to hold older files in a 4 drawer file cabinet. And if you have children that information will also be important to hold on to.
I will be posting what papers to keep and for how long, and when to shift things from an active file to a dead one.
Until Anon, Kisses Darlings
Are you ready to start the New Year including Chinese New Year?? I hope so. It’s going to be a very interesting one with all the political fencing that we are simply going to be bored to death with.
Frankly among the early republican hopefuls there is not a single good person among them at all. Where is Ronald Regan when you need him??!!
Alright Darlings, not everyone was enamored by Ronnie, I’ll concede that, but still……
Now Darlings, I have been a busy little bee writing up various posts and I have been during our cold, rainy days---although we do need the rain---writing a lot of posts. But I have broken them down as to what they should cover.
Some of my Diva’s in training have asked me how to set up a “home office”, even if it’s only for their personal use.
(Thank you Jennifer, Dianna, Nancy, Lynda, Becky) I didn’t post their comments because the questions were pretty much the same.
Well first Darlings, you need to set aside a space that you have to say is your “Office”, whether it’s a corner in the kitchen or you have a room to outfit. Second, this desk or office area is off-limits to other family members, no touching at all.
I know of one lady who simply raged that her husband and children would not keep their hands off of her desk, computer etc. while she went to take care of other things, only to come back and find everything including important bills and papers, completely dis-organized, so much so that she had to spend a considerable amount of time putting it back in order.
She was so angry about it that she threatened divorce and told her husband he could keep the kiddies and then he’d learn what it was like to deal with them.
Fortunately her hubby was not dense, after all he had his “man-cave” and the children (3 boys) could invade there especially during the games. But the children simply thought that anything that was Mom’s was theirs---not so when it comes to bill paying or anything, even Mom’s purse is off limits.
Her hubby realized she needed what in Victorian times would have been called “The Morning Room”, they had a good size garden and part of it was under underutilized (aka weedy), so instead of giving her diamonds, he had built for her “A Room of Her Own”, complete with electricity, phone, and computer connections, now the room was bare, no carpets, not painted, not furnished, but she envisioned what it should look like and where the connections and outlets should be and it was so.
Then he let her choose what she wanted in it, oh and did I forget, but he also made sure that it was properly done so she could run a space heater without blowing out anything.
And she has the key---kiddies not allowed, unless the house is burning down.
But lets say that you have in your home a spare room, maybe a room that is too small to be a bed room or a man-cave, or you have an over large kitchen with a convenient corner.
Asses the space to figure out what will fit, and that will require taking photos and measurements, and doing a grid.
Then you need to find a good desk that will fit the space that you have in mind, now some people will have an “L” shaped desk, one side to hold the computer and the other for a flat space to write out or sort things.
Then you need to have at least a 2 drawer file cabinet, it helps if it’s a locking file cabinet.
The cheapest way to create a desk is to get two 2 drawer file cabinets and put on top of them a standard hollow core door, with one cabinet for active files and the other for dead files.
I also suggest a fire proof safe to hold things like insurance papers, mortgage papers, social security cards, birth certificates and that is just for starters.
You need to assess the types of office supply materials you’ll need.
And for that you need these essentials:
Comfortable desk chair
Desk lamp (those with the movable head)
Holder to hold incoming mail,
Shredder,
Scissors
Waste basket
Calculator,
magnifying glass,
stapler/staples,
scotch tape and dispenser,
pens/pencils,
envelopes legal size,
letter size paper,
letter opener,
12 inch/18 inch ruler, 1 yard stick (36 inches),
cheap note pad to do calculations,
Stamps,
Rubber bands
File to hold seasonal or special occasion cards (birthdays, anniversaries etc.)
Files to hold paid bills, these will go into the file cabinet.
Cash book---now this is important---I use a cash book and write down monthly what bills need to come in and when, I check off if they have arrived, then check off if they have been paid
Large calendar, and have it so you can see three months ahead, write on it when and what bills should be paid and when it should be mailed, I also use the calendar to note when I will be getting deposits into my various accounts, then I call to check to see what has been deposited and note my balance. This calendar should include medical/dental appointments, birthdays, anniversaries, any upcoming events like when school lets out for the Summer, etc.
Special holder to hold outgoing bills/letters/cards that you are mailing,
You will need a magazine file holder to hold the current catalogues that you get, mark on them when received and rotate them out when the next one comes in,
File to hold menus for take out in case you don’t feel like cooking; rotate those once a year to update prices.
Rack to hold Labled spare keys (this to be mounted on the wall)
Printer for computer
Scanner for Computer
A table to hold both printer and scanner.
Now you may not need all of this but in time you will discover what is very handy.
I also have a check file to hold my duplicate carbons for my checks as well as the check registers and I keep clipped together all my receipts, especially when I use my debt card and credit card, I do not get rid of them until I have resolved my statements, some receipts you need to hold onto in case you have to return an item or gift, so mark those receipts as such and some maybe be needed for income tax purposes.
Now how often should you reconcile your checkbook, well Darlings I maybe paranoid but I do it every other day, I also list what is pending and what is outstanding, this is especially important during the holidays or if you are heavy into using your debt card to pay for everything, you don’t want to over draft your account.
Another reason is that of late thieves are very big into “skimming” cards at Grocery stores, gas stations, ATM’s etc. so by checking every other day you’d be quick to catch any unauthorized spending, also it does pay to use your debt card as a credit card or to use your credit card as you have a better chance of reversing unauthorized transactions.
Now a new list has come out on paperwork that you will need to keep, and one of the most important questions that is asked is----
"How long should I keep certain papers?"
It is imperative that you check with your accountant and/or lawyer before throwing out any financial or legal papers, because they know most about your individual situation.
Because each person’s situation is unique there are times when it is important to hold older files in a 4 drawer file cabinet. And if you have children that information will also be important to hold on to.
I will be posting what papers to keep and for how long, and when to shift things from an active file to a dead one.
Until Anon, Kisses Darlings
Etta James & Haute Couture
Darlings, I am Devastated after hearing about Etta James, one of the world’s most wonderful Jazz and R & B singers passing away; her song “At Last” is just so iconic, so perfectly rendered that no one else can come close to duplicating it.
I am so glad that I encouraged my great-niece to buy a CD of her songs which included that one; she e-mailed me this morning and said she is going to hunt for every CD that has ever been produced of her singing. I told her to not forget Ella Fitzgerald, Billy Holiday, Dina Washington and Julie London; we could all learn from them their singing style, just so wonderful on cold, rainy nights.
I am going to have to go over my collection and see what I need to do to update it.
But still one more voice now gone, first Elizabeth and now Etta, well the best thing I can do is simply “pound out” more posts.
And I have been a busy “Little Bee”.
I had a chance to see what the Haute-Couture Fashion is coming out of Paris and all I can say is that I was bored, bored, bored, with the exception of some promising numbers from Dior and a couple from the house of Channel there was nothing that was exciting.
Even the clothing styles created for the T.V. program “Mad Men” were far more exciting than what walked down the runways. One of my friends who is an editor for a Fashion magazine had asked if I care to come with her for Fashion week, and although I would have loved seeing Paris again (I have not been there for nearly 6 years), I decided to pass on it and sent my regrets, but she promised to keep me up to date on what looked promising.
Even she had a hard time getting excited about what trotted out.
Lagerfeld did have some inspiration perhaps from the possibility of the Television program Pan-Am but frankly there were a lot of styles from the 1960’s that were not the best. And shades of blue, Darlings are we all going to be stewardesses?
My friend said she would have loved to see some of the garments in other colors, to get a true feel of what they would be.
Versache went with off-white silver and acid green, but Halston could have done better if he was alive and still designing.
What I have to laugh about is how the fashion reporters give such glowing reports on stuff that are such tripe. I could do better by going into my closet and digging out garments from 20 years ago that I still fit into. Even the vintage items from the Art Deco shows are far better than what walked down the run ways this spring season.
Sorry Darlings, I just could not get excited, and the clothing styles out of Berlin…Unbelievable, I think there was only one thing that I saw among them that was of interest.
But the year is still young, we’ll just have to wait and see what crops up. Or is it going to be Talbots and Jessica London with their basic sensible designs?
However something very interesting has developed, Constance's second oldest daughter, Bella has discovered the clothes that I gave to her mother, she became very interested in dress design and such and look classes in sewing, she sewed her own prom dresses as well as several for her friends and got paid for it.
Well when she came over this last weekend with her mother and the baby, such a sweet little thing, she asked me about vintage designs, so I showed her my closets and we talked, and talked she didn't want to leave, so Juanita, Constance and the Baby went to do their errands and Bella and I looked at the clothes, talked about fashion, and we went over the patterns offered by Vogue, Butterick and McCalls.
She has a sewing machine a good sturdy Singer, so I am going to "bankroll" her, she wants to get into tailoring and designing, her Mother is concerned about her making her way in the world, and I have to admit the world of fashion design is highly competitive, and I encouraged her to look at taking business classes so she would understand what a cut-throat business she'd be getting into, she also saw my Besame cosmetics, and so I showed her a web site "Lulu's at the Belle Kay".
Oh the sweet dear became ecstatic!
I told her about the Art Deco Societies and the concept of all the retro programs such as Pan Am, Mad Men and some of the movies. So I have told her she needs to develop a plan and get an idea of what she wants to do.
So calling Constance on her cell phone I told her that we were going to a fabric store that I knew and buy Patterns, and that Constance better be prepared to have a at home business in her house and said to come back to my house and we'd all go out to dinner, baby in tow.
So that evening we did and explained what I was going to do for Bella, but Bella had to promise that she would go to college and study business and marketing as well as fashion design, it's exciting to be able to help launch a career, and to encourage her dreams.
And now I have other postings to prepare.
Until anon Darlings, Kisses
Until Anon, Kisses Darlings
I am so glad that I encouraged my great-niece to buy a CD of her songs which included that one; she e-mailed me this morning and said she is going to hunt for every CD that has ever been produced of her singing. I told her to not forget Ella Fitzgerald, Billy Holiday, Dina Washington and Julie London; we could all learn from them their singing style, just so wonderful on cold, rainy nights.
I am going to have to go over my collection and see what I need to do to update it.
But still one more voice now gone, first Elizabeth and now Etta, well the best thing I can do is simply “pound out” more posts.
And I have been a busy “Little Bee”.
I had a chance to see what the Haute-Couture Fashion is coming out of Paris and all I can say is that I was bored, bored, bored, with the exception of some promising numbers from Dior and a couple from the house of Channel there was nothing that was exciting.
Even the clothing styles created for the T.V. program “Mad Men” were far more exciting than what walked down the runways. One of my friends who is an editor for a Fashion magazine had asked if I care to come with her for Fashion week, and although I would have loved seeing Paris again (I have not been there for nearly 6 years), I decided to pass on it and sent my regrets, but she promised to keep me up to date on what looked promising.
Even she had a hard time getting excited about what trotted out.
Lagerfeld did have some inspiration perhaps from the possibility of the Television program Pan-Am but frankly there were a lot of styles from the 1960’s that were not the best. And shades of blue, Darlings are we all going to be stewardesses?
My friend said she would have loved to see some of the garments in other colors, to get a true feel of what they would be.
Versache went with off-white silver and acid green, but Halston could have done better if he was alive and still designing.
What I have to laugh about is how the fashion reporters give such glowing reports on stuff that are such tripe. I could do better by going into my closet and digging out garments from 20 years ago that I still fit into. Even the vintage items from the Art Deco shows are far better than what walked down the run ways this spring season.
Sorry Darlings, I just could not get excited, and the clothing styles out of Berlin…Unbelievable, I think there was only one thing that I saw among them that was of interest.
But the year is still young, we’ll just have to wait and see what crops up. Or is it going to be Talbots and Jessica London with their basic sensible designs?
However something very interesting has developed, Constance's second oldest daughter, Bella has discovered the clothes that I gave to her mother, she became very interested in dress design and such and look classes in sewing, she sewed her own prom dresses as well as several for her friends and got paid for it.
Well when she came over this last weekend with her mother and the baby, such a sweet little thing, she asked me about vintage designs, so I showed her my closets and we talked, and talked she didn't want to leave, so Juanita, Constance and the Baby went to do their errands and Bella and I looked at the clothes, talked about fashion, and we went over the patterns offered by Vogue, Butterick and McCalls.
She has a sewing machine a good sturdy Singer, so I am going to "bankroll" her, she wants to get into tailoring and designing, her Mother is concerned about her making her way in the world, and I have to admit the world of fashion design is highly competitive, and I encouraged her to look at taking business classes so she would understand what a cut-throat business she'd be getting into, she also saw my Besame cosmetics, and so I showed her a web site "Lulu's at the Belle Kay".
Oh the sweet dear became ecstatic!
I told her about the Art Deco Societies and the concept of all the retro programs such as Pan Am, Mad Men and some of the movies. So I have told her she needs to develop a plan and get an idea of what she wants to do.
So calling Constance on her cell phone I told her that we were going to a fabric store that I knew and buy Patterns, and that Constance better be prepared to have a at home business in her house and said to come back to my house and we'd all go out to dinner, baby in tow.
So that evening we did and explained what I was going to do for Bella, but Bella had to promise that she would go to college and study business and marketing as well as fashion design, it's exciting to be able to help launch a career, and to encourage her dreams.
And now I have other postings to prepare.
Until anon Darlings, Kisses
Until Anon, Kisses Darlings
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