Adulting 101: Which Documents Should You Keep?

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Adulting 101: Which Documents Should You Keep?

Adulthood can be a tricky experience. One minute you feel like you just turned 17, and the next, you’re filing your taxes. As an adult, you can find yourself in situations that you do not feel prepared for. You will often find yourself being your own teacher and carrying those self-taught lessons with you.

One thing many adults lack knowledge about is which legal, financial, and personal documents they need to keep. In case of an emergency, you should keep the following records in a protective file cabinet or waterproof file bags. Here are five documents you should keep.

Your Tax Records

Now that you’re an adult, you have to do taxes! How exciting! However, it’s essential that you keep detailed tax records for your accountant. Ensure you have your local, state, and federal tax information and copies of any checks or payments you received for tax returns. Work with an experienced local firm like Accountants East London. Keeping your tax records from previous years will help prepare your future taxes.

Your Record of Utilities

If you own a home or rent, you know that a lot goes into your everyday lifestyle. For example, most of the things you do rely on electricity. Your home and neighborhood are tidy because of the trash service that comes every week. These utilities are important, and it’s imperative that you keep a record of your household utility bills. These invoices and receipts will allow you to keep up with your payments and address any disputes.

Your Warranties

Most big-ticket items like expensive jewels and accessories, TVs, computers, or appliances, have warranties. Keep your receipts and warranties for these items in case of an emergency like theft or damage. You can determine if the company will replace or repair your item when you still have the warranty.

Any Physical Medical Records

It’s vital to organize all your medical records and file them away in a safe space. This goes for medical bills, invoices, and receipts as well. Store this information safely in case of an emergency or natural disaster. If you have a will, you should also keep this information with your medical records.

Your Insurance Statements

When you find a place to call home, you also need to purchase home or renters insurance. When buying home (or renters) insurance, you also need to document your high-ticket items in case of an unforeseen incident. Hold onto all your insurance statements and plan details to ensure you have coverage.

We hope this article helped you learn which documents you should keep in protective filing cabinets. By supporting these documents, you be ready for any legal responsibilities, or if an incident happens, you have legal documents to back you up. Happy adulting!

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