Why you need to keep your receipts

Most of us don’t care about receipts. We will throw it into dust bin and never pay attention about the piece of paper. But do you know it is important to our financial? This is reason why you need to keep the receipts properly

1. Receipts could be proof of purchase for warranties. Most people need purchase warranties for you to claim if anything happen to the product. You need to retained it as long as you own the item. While some stores are good about taking back returns without a receipt, others may restrict you to store credit or only refund the amount of the lowest recent selling price. Make too many returns without a receipt and some stores will even blacklist you from future returns.

2. It is proof of major expenses. To get a good financial you need to have record about the major expenses. Keep it and it will help to record your expenses.

| 8 Tips to Keep Your Receipt in Order |

3. To record your expenses for making budget. Keep the receipt in systematic way could help us to track our expenses. It help us to make budget for another year/month based on the record.

4. Tax deduction can be made if we have the proof of what we spend. Tax organization will verify the exact tax for us. With Tax consultantthe advancement of technology, many are turning to the Internet to file their taxes.  In fact, many banks now allow you to check your spending online and keep a record of most of the financial information you may need in terms of deposits, withdrawals, and so forth.  However, whether cash or card, receipts give you a more accurate record of your spending and keep track of what exactly your money was spent on in addition to where.  With the use of online banking and tax filing, it may seem as though receipts are no longer necessary.  Just wait until you get an audit.

5. Receipts are needed for rebates.Rebates aren’t as common as they were in the past. However, you can still find opportunities to send in your receipts for money back.
Let’s say you find a rebate for deodorant that you just bought last week. Wouldn’t it be nice to not have to buy that product again to get the rebate? Well, if you have the receipt filed away, you don’t have to.

There’s many more reason for you to keep receipts in safety file. Okay, I’m also not keep receipts before and it is time for me to work about it. Do you agree keep receipt could help your financial management? Let’s share with me..

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