Filling System

As I was wondering on what to write about earlier today, suddenly I gazed at my filling cabinet and saw some of my personal files. And then, it struck me that how important it is to have a reasonable filling system for your future reference.

It's an odd topic to talk about but to a certain degree I think it's a very important one as it helps you greatly in minimizing the hassles of finding documents, especially the important ones when you need it.

Right, let's get straight to the point. Why does a systematic filling system helps you in the long run?

1) It saves you time
2) Minimizing the hassles of looking for documents
3) Helps you being a wee bit more efficient
4) You know where and what you are looking for when it matters

There are a lot more reasons on why you should have a proper filling system but those stated above are the obvious ones for me.

When I started working way back in 1999, I used to file everything in one 'ABBA' file. It includes the bank statements, P45, P60, Salary Slips, Credit Card EPF, tax, insurance, ASB, etc..

As time went on, I had to create a file specifically for the Credit Card bills, since I owned about 5 credit cards at one time.

When I first started buying a property, I told myself that I need to create a folder/file specifically for 'Property'. At that time, I have no interest in purchasing more properties as my income was pretty limited. When I took home the S&P agreements and stuff, it was clear that I need to file it properly.

Again, as time went on and as I progressed, I began to purchase more properties via auction as well as sub-sale. Hence, there was a need for me to have separate files for each properties that I bought. Now that I have a few properties, I told myself that I need a small cabinet to put all those files. Everything about a particular property such as the agreements, the maintenance fees, amount due, amount received, etc is clearly filed according to their dates. In fact, I have a summary of payments made for every month for each property so that it'll be easier for me to track my monthly expenses.

Up till today, I have a cabinet that is full with my personal files. Each of them are clearly marked such as properties, Unit Trust/ASB/AHB, Insurance, Credit Cards, ASTRO, Motor Vehicles, Loans & Bank Statements, Alya's School and of course, EPF. I'll make sure that everything is being arranged according to the latest dates so that it's easier for me to look for a particular document in the future.

I dread to think what would happen if I don't have a proper documentation system of my own. I know of some people that couldn't be bothered to file their own bank statements let alone their Salary slips. It certainly have helped me in so many ways. For example, although I seldom do it, with proper filling, I can reconcile my bank statements whenever I have the time.

In this particular period of time where everything must be in documented in black and white, a proper filling system helps a lot especially when there's a dispute. You might think that it won't happen but when it does happen, at least, you're prepared for it.

I do not know whether everyone's doing it or not, but what I do know is, it has helped me to be a little bit more systematic and in control. To be honest, it's not a rocket science kinda stuff. It's about putting things at the right places so that when the time comes, you can easily search it.

Have a nice day