Keeping your financial papers in order is satisfying but it can be difficult to achieve. If you devote a few hours to getting organized, you’ll save endless hours in the way with these tips:

• FIND A HOME FOR YOUR PAPERS – Set up a home financial center where you store your bills and receipts—whether it’s in the corner of your kitchen or a filing cabinet nearby. Use a space you go to often instead of an area you rarely visit.
• DETERMINE WHAT TO KEEP AND WHAT TO DISCARD – Generally, you can get rid of grocery receipts, credit card slips for non-tax deductible items, and ATM receipts you’ve already reconciled. Toss all your junk mail. Hold on to anything that’s tax deductible, such as medical expenses and records of charitable contributions. Also keep insurance policies, investment purchase records, mortgage and property bills, and warranties and instructions.
• SORT YOUR PAPERS – Use four categories: bills, insurance policies and records, bank and brokerage statements, and other important documents. Then sort those papers into separate folders for each account, type of receipt, like transportation expenses or medical bills, and each insurance policy, etc. Toss the nonessentials.
• BUILD A ROUTINE – Spend five to 10 minutes a day maintaining your files. Open your mail near the trash bin. Circle the due date for your bills, and file them in the proper order.