Better Life Habits: Filing

One of the biggest challenges with thinning out paper files -- or figuring out what to so with stuff was that was supposed to be filed at one time, but now sits in piles -- is knowing what you actually need to keep.

Here are some questions you can ask to help you determine what you need to keep and what can be tossed. If it seems like it might be very time-consuming to answer each of these quuestions for every piece of paper you need to decide about, rest assured that once you get going and get in a rhythm, it goes faster than you might think.

Here we go...

Is there an action associated with this piece of paper? If so, it should go in your "to do" or tickler system. If not, keep going with the questions.
Are there legal or financial reasons for keeping the item? When in doubt consult with your attorney, CPA, insurance broker, financial advisor, etc. To save time and calls, you can put things in separate piles based on which expert you need to consult and then go through the documents together either in a short meeting or over the phone.
Is the information current enough to be relevant? For instance, anything printed out regarding technology is obsolete almost the moment it's printed!
Is this the only copy of this information in existence? Might there be an electronic copy? Does someone else have a copy?
How difficult or expensive would be it be to obtain a new copy? Sometimes information is just a cheap, fast Google away. And even billing records (charge cards, bank statements, etc.) are usually on-line
Can you think of a specific occasion when you might need this item. "I might need it someday" is not specific enough!
What is the worst thing that could happen if you get rid of it ? Assuming you did due diligence on question #2 and found no reason there to keep it.

I'd love to hear what you think about these questions, other questions that you think should be added, or stories about how you did a paper purge. And if you have a challenge, post it here and we'll get some answers for you.

I recently got a new computer for which I was long overdue. A software package I had on my old computer won't work on this one, and so I thought about whether I should buy new, compatible software, or just stop using the program. Because the software is essentially a database for my paper files I thought about how much I truly access those paper files. The answer turns out to be, not very much.

The 80/20 rule applies to files (electronic and paper) just like it applies to effort/results, clients/revenue, and individuals/wealth. Of all the stuff we file, chances are we're only going to access 20% of it. And frankly that number may be a bit high for me. So the purging process has begun!

Rare is the person who has a solid week, or even a solid day, to spend going through papers and deciding what to keep and what to purge. So in the case of paper files, set an amount of time that you have to devote the file clean-out project. It doesn't have to be a huge chunk of time. A lot can be accomplished in as little as 15 minutes. The set a timer and get to work. Focus like a laser beam on the purging effort until the timer dings.

I recommend the timer so you can really focus instead of checking your watch or the clock. Focus is vital for making headway.

When your time is up for the day, put a sticky note on the file to indicate where you stopped, so when you have another few minutes of purging time scheduled, you'll immediately know where to start.

Later I'll be providing a list of questions to ask yourself so you can decide what to keep and to toss.

See you then!