Lifelong Money Management Tips


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It’s never too late to get your financial records organized.  Here are some tips to help you sort through all the records:

Keep a home file to maximize the efficiency of your financial records.  Items should include:

  • Information on credit cards, debit cards, checking accounts, savings accounts, and copies of contracts
  • Copies of insurance policies
  • Information on home mortgages, land, and other property
  • Information on motor vehicles and driver’s licenses
  • Copies of birth, marriage, death, divorce, and citizenship papers
  • Copy of will, last instructions, and safe deposit box keys
  • Tax records for the last six years
  • Records of pension plans, education, health records, and employment
  • Current household inventory.  List everything you own, how much it costs, and approximately how old it is. Add pictures of room/major items and keep receipts
  • Copies of all warranties and guarantees

Keep a safe deposit box for financial records that are difficult, costly, or impossible to replace. Items should include:

  • Birth, death, marriage, divorce, adoption, and citizenship papers
  • Deeds to property
  • Vehicle titles
  • Stock and bond certificates
  • U.S. savings bonds
  • Important contracts
  • Military discharge and veteran papers
  • Patents and copyrights
  • Important disks or CDs
  • Pictures from your home inventory (or upload them to a flash drive)

For more information on keeping your records safe, click here. Also, as a member of Members 1st Federal Credit Union, you can take advantage of the GreenPath program – a free financial education and counseling program. GreenPath counselors are available Monday – Thursday from 8 a.m. – 10 p.m. (EST), Friday from 8 a.m. – 7 p.m. and Saturday from 9 a.m. – 6 p.m. To use this service, call (877) 337-3399 or visit www.greenpathref.com.

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