How to practically organize your financial documentation

How to practically organize your Financial Documentation?

Table of Content

4 major areas to organize your Financial Life.
1. Organize all your Financial documents

2. Create your Financial Information Vault
3. Use technology for the simplification of your Financial Life
4. Schedule your important Financial tasks

Is your financial life organized? Or, is it scattered all around and you have no idea on how to organize your financial life!!

Do you have a proper structure to keep all your Financial Documents such as bank documents, tax documents, insurance papers, loan papers, monthly bills and so on?

If you are not around with your family tomorrow, in that case, is your family aware of enough financial information?

Smallest carelessness leads to unorganized financial life, which has its own negative impacts. Before it’s too late let’s learn how can you actually organize your Financial Life.

In this article, you will learn the 4 areas on how to keep your Financial Life clean and organized.

4 major areas to organize your Financial Life.

Following are the 4 major areas you need to take care in order to organize your Financial Life:

    1. Organize all your Financial Documents
    2. Create your Financial Information Vault
    3. Use technology for the simplification of your Financial Life
    4. Schedule your important Financial tasks

Now, let us discuss them in detail one by one.

1. Organize all your Financial documents

Financial documents are not an ordinary piece of paper, your smallest mistake in mishandling may cause you to suffer a huge loss.

You might indeed be keeping them safe but due to your busy schedule, all these documents are unorganized and scattered all over in different places.

Whenever you quickly need to find any essential document anytime, it would take a long time to find the right document at the right time.

Unorganized documents always have a high risk of getting into the wrong hands and once this happens, then ANY kind of loss may happen.

So, before anything terrible happens, let’s commit yourself to keep all your Financial Documents organized.

Below is the checklist of the Financial document. And, you should keep them organized:

Insurance Papers

  • Life insurance original document
  • Life insurance premium payment acknowledgment
  • Health insurance original policy document
  • Health Insurance Cards
  • Health insurance premium payment acknowledgment
  • Any communication in writing with your insurance agency

Bank Documents

  • Bank account details
  • Fixed deposits, recurring deposits documents
  • Bank Cheques, and record of all the used cheques
  • Password (ATM or internet banking) slips
  • Any cheque deposit acknowledge slip
  • Locker documents

Investment Papers

  • Mutual funds document
  • Stocks related document
  • PPF passbook
  • EPF acknowledgment
  • Demat account papers
  • Copy of a will
  • Bonds
  • NSC
  • Post office related investment documents, if any

Tax Documents

  • Tax return acknowledgments
  • TDS certificates
  • Tax paid acknowledgment forms
  • Any other document related to taxation

Loan Papers

  • Title deeds
  • Home loan agreement
  • Any written agreement
  • Car loan papers
  • Education loan agreement
  • Insurance papers for a home loan etc.

Monthly Bills

  • Electricity bill
  • Phone/DTH bills
  • Credit card bills
  • Netflix
  • Water bill
  • Internet bills

Other important documents, such as

  • Electricity bill
  • Phone bills
  • Credit card bills
  • Water bill
  • Internet bills

You should keep all the above Financial Documents safe in a ‘Big File’. Once you do this task you will already feel the burden of unorganized finance will be lifted over your head, it’s a bit of psychological process as well.

This task may not be new to you, you might have thought several times in your life about it and wanted to do it ‘someday’, but you never took any action so far.

Your very first action step after reading this section is to buy a big file folder for storing all these documents.

You should not delay in taking this step. This is your initial step to organize your Financial Documentations, so take action Now.

Also, the Duplicate Xerox copies and the online version will add an additional layer of security.

Once you have created your Big file to keep all your original documents. Now you can add an extra layer of security by

  • Taking Xerox copies of all the original files and keep them in a separate duplicate folder.
  • Get all your original documents properly scanned and save them on your desktop. Also, you can zip all these files mail it to yourself or your spouse and STAR them in your email account.

To summarize, this is how you have to organize your financial documents:

1. Main Folder – With all originals (updated anytime a new document enters your financial life).

2. Duplicate Folder – With all Xerox versions (updated once in a while, preferably once a year).

3. Online version – A scanned version of all documents, zipped into a file and mailed to yourself and your spouse (updated once in a while, when you update the Xerox versions).

2. Create your Financial Information Vault

Have you created a Financial Information Vault accessible to your family in your absence?

Financial Information Vault is basically a ‘Black Box’, or editable PDF document where you write all the essential Financial information useful for you to track all information in one place. And, in your absence, your family can have access to this information, without any confusion or panic!

What if they need to call a life insurance agent or want to know the investment details or any other emergency need that might happen!

If you are a sole breadwinner of your family, it is your responsibility to make the essential financial information available to your family, without any hassle.

What does this Information Vault consist of?

Please have a look at the document given below and fill it out.

Download your Information Vault

It is an editable PDF, which you can keep it saved in your computer by keeping all the financial information updated, time to time.

Also, you can take its print-out and write all the details manually and keep it safe in your locker.

Information Vault consists of all the essential information given below:

All the contact information that your family might require.

Such as Contact Number of Financial Planner, Life Insurance Agent, Health Insurance agent, or CA.

All the details and locations where your important documents are stored and their numbers

Such as Aadhar Card, PAN Card, Passport, Locker keys, etc.

Details of all the assets

Such as a personal property, investments or bank details

Your second step in organizing your Financial Life is to create this information vault or a black box of your financial details.

Creating this information vault has many advantages and is useful in various cases like:

Case 1: Your unfortunate death

Case 2: You are critically injured and cannot communicate

Case 3: The emergency situation when your family quickly needs information

Case 4: When you urgently need various information

Therefore, your second action step is to keep this financial information vault safe in your locker, and saved in your computer, in case of any emergency need to you and your family.

Watch the video to know more about information vault!

3. Use technology for the simplification of your Financial Life

Technology can reduce many complications.

There was time, when there was less technology in the banking sector, people have to stand in queue for all their basic banking needs such as deposit, withdrawal, investment in PPF, etc.

Do you still want to experience age-old techniques of visiting your bank or insurance office for your general needs?

It consumes a lot of time, efforts and it’s a complicated process. Any such complication ends up with the unnecessary hassle, which in turn causes unorganized financial life.

Make use of technology as much as possible. It is hassle-free and it can simplify your financial life in a BIG way.

Below are some essential tasks that you can do online

Connect your PPF account with net banking for online payment

In earlier days, people visit their bank branch or rely on their agents to deposit money into their PPF Account.

Now you can connect your PPF account with your bank and make online payments just like you make payments to any other bank account.

Once your PPF Account is connected with your bank, all the future payments will be automatic, it’s just a one time process you need to do.

Connect your loan accounts with Net Banking for online payment

Just like a PPF account, your loan account can also be linked with your bank. This way you can prepay your loans anytime you want. All you need to do is- just use your loan account as the bank account and use it for NEFT transfer, you need an IFSC code because that’s required for an NEFT transaction.

This way your loan payment can be automated.

Set up your payment reminders

There are some essential payments such as payment for your internet, credit card, DTH or Mobile recharge, Netflix, life insurance premiums and so on. It would be hectic if you keep a record of their payment dates, there are higher chances to miss the deadline.

The solution is to generate auto-pay wherever possible and set-up payment reminders for all your monthly payments. For Credit Card Payments you can use CRED App, for smooth transaction and notification of the due dates for all your Credit cards.

For other payments, you can simply do it on your Mobile or Google calendar or their respective websites. Certain wallets like PayTM automatically send payment reminders on various services.

4. Schedule your important Financial tasks

In your busy schedule, it is normal that the essential financial tasks just get ignored or forgotten in your mind. For example, you have just transferred to a new city in your job; now you need to do many tasks such as address update in all your financial documents, credit cards or debit card, phone number update, EPF Account transfer and so on.

If it is not done, you may face extreme challenges or losses in the future. Let us say, if your old address is occupied by somebody else and you are still receiving all your essential financial documents in that address, it may reach the wrong hand and it will be a high risk of misuse of your information.

So, schedule all your essential Financial Tasks before it’s too late.

This is how you can do it:

Get your Employee Provident Fund withdrawn or transferred

When you change a job, your EPF needs to be transferred to the new employer, or you can withdraw it.

For some people, it has been years and they are wondering what the exact status of their EPF accounts is.

In case you are waiting for your EPF transfer or withdrawal and could not find out what to do next, you will be happy to know that the EPFO department comes under RTI regulations. And you can file an RTI query asking the EPFO office about the status of your application, you can ask them how much more time it will take.

Keep all the important information up to date in all your investments

There are various kinds of things which keep changing in our life, like address, phone number, name after marriage (in case of women). We also want to change the nominations in our investments. These things look very small but are very important.

You should list down each product, bank account, insurance policy, etc. you have, and just make a note of all the information you have given to them, and match it with current information. If you find any discrepancies, just update them. In most cases, it should be possible with an email.

Read all your policy documents of your Financial product

Very few people read policy documents and terms and conditions booklet that they get after buying a financial product such as Term Insurance.

Also, it is a good practice to be updated with their rules through their websites or social media channels.


We cannot emphasize enough the importance of organized Financial documents. An organized Financial Life can bring enormous peace. We hope that you have realized every bit of its importance in this article.

Even if you have recently started your career and don’t have more financial documents with you right now, still you should start practicing this standard organization technique now and you will thank yourself later.

If you have any queries or experience to share, feel free to drop them in the comment below.

All the information is presented in simple actionable steps. So, don’t forget to take these action steps right away.

We will help you to create a financial plan personalized with your needs, click the link below and register for your FREE Financial Planning Consultation Call.


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