Fact: Eighty percent of papers we keep are never looked at again.

Have you ever wondered what happened to the paperless office? Technology that was to reduce dependency on paper has actually increased consumption. Why are so many papers kept? If it is not easy to distinguish the difference between important and trivial papers, you tend to keep everything, just in case!

It is not the volume of paper itself that is the problem, but rather the decision-making process. Lets think about a sensible filing system.

Finding Your Way

My scuba diving son uses a Global Positioning System (GPS) to pinpoint the location of sunken vessels and dive sites. My husband has a GPS to set coordinates for hiking trails. This high-tech navigational system is part of the network of 24 satellites placed into orbit by the U.S. Department of Defense for military applications. Over the past several years, it has become available for civilian use. It works in any weather condition, anywhere in the world, 24 hours a day.

The GPS technology opened a world of possibilities. Man can strategically place satellites into outer space, yet haphazard filing systems (paper and electronic) eat up tons of paper and valuable storage areas here on earth. Time, money and energy are wasted when you search for elusive documents. Wouldnt you just love to have a GPS that works in any condition, anywhere, 24 hours a day searching through a bursting filing system?

Systems

Records management is rarely a priority at home and in the office. It seems that there are more important things to do than deal with the influx of paper. However, if piles of paper and bulging file cabinets are taking over your life and environment, then it is time well spent on establishing a system of retention, retrieval and disposal. As you think about setting up a workable file system, you must stay cognizant of three important points what to keep, where to keep it, and for how long.

Most papers that come your way are fundamentally unimportant. You read, and then toss. Being able to discern the relevancy of information will help to eliminate pile up.

Then, there is a category of documents that is useful beyond a single reading. These papers must be kept for a certain period of time or archived for an extended period of time. Where you keep these important papers depends on how frequently you need to access them. Current documents are best kept in a file system close to your desk and work area. Older documents can be archived into the attic, basement, garage or off-site. Remember to label all boxes adequately to make the retrieval process easier.

Tax-related documents are keepers. Generally speaking, the IRS has three years to audit a return. For retention of your personal papers, consult an attorney, financial planner or accountant to determine what is pertinent for you to maintain. Another source for tax information is http://www.IRS.gov.

Valuable Asset

Papers are generally kept, either filed or piled, because of the perception that they are valuable. They are useful only if you know where they are and can access the information. Ask yourself, Can this information be retrieved from some other source? If the answer is yes, then toss. If the answer is no, then develop a good filing system where you can retrieve the information when you need it.

The key to successful filing is to think retrieval. What will you be thinking about when you are looking for this information? Make sure your classifications, categories and subcategories adequately explain what information they contain.

Personal Information

We have all heard horror stories where important documents, such as a will or life insurance policy were known to exist but never found. Be thoughtful of your family and friends and get your personal information in order, including biographical and medical information, financial portfolios, employment records, property documents, legal and insurance papers, vital contact information and living wills. Put all of these records together in one location. There is no better time than right now to set your affairs in order.