The Neat Sheet from That's Neat! Organizing

Your Own Economic Stimulus Plan: An Organized Home

What does being organized have to do with saving money?

Here are a few ways organization can help your bottom line:

Claim all your tax deductions: Never lose an important receipt again! Set up a system to file and track tax deductions, such as medical or home office expenses, and charity donations. This can be as simple as putting receipts for these expenses into an envelope marked "tax deductions," or by keeping a spreadsheet of business-related purchases throughout the year.

Money in the bank: Sort and purge any piles of paperwork that have accumulated, looking beyond the desk and floor to see what may have been stuffed in cabinets or drawers. You may find uncashed checks, stock certificates, or other critical paperwork. Set up a simple system for bill paying to avoid late fees that may damage your credit rating. An expanding file is one of my favorite solutions for filing bills and receipts.

Shop wisely and eat at home: Keeping an organized pantry, fridge, and freezer helps you avoid purchasing duplicate items at the grocery store. With an organized pantry and freezer, you can also plan meals to use up specific items that you may have forgotten about (tuna casserole anyone?). When cooking dinner, double the recipe and put the extra in your newly sorted and purged freezer. Make it easy to cook healthy dishes by placing your favorite recipes in sheet protectors and keeping them all together in a three-ring binder.

*For a step-by-step plan to organize your pantry, fridge and freezer, see the November/ December 2008 Neat Sheet.

**Neat Tip: Don't know if your cinnamon has expired? Check out the Durkee and McCormick websites for spice expiration dates.

Save money on clothing: Sort your clothes by color and type. During the process you may discover that you already have enough t-shirts and black pants (and don't need to purchase any more). Then purge what you haven't worn in the past 12 months, leaving only outfits that you love and that look good on you. Consider holding a "trunk show" with friends and exchange your unwanted outfits, shoes, and accessories.

*See the March/April 2008 Neat Sheet for more tips on closet organizing.

Turn clutter into cash: De-clutter your home and then sell your unwanted items at a garage sale, on eBay, or Craigslist...or donate them to a charity and you may be able to take a tax-deduction.