How to Organize your everyday life paperwork!

Buy an Expanding File where office supplies are sold. I chose the open top, no flap with the most pockets. You can get them in letter or legal size width. I buy the letter size to fit in my file cabinet. You can get the 1-31 pocket or alphabetical set. I use one expanding file for the entire year.  My labels are in alphabetical order, so it's quick and easy to file paperwork. I have been using this system for many years now and it still works beautifully.

The first label is the year. I place it on the front of the folder to quickly retrieve paperwork as I need it. The others are: Auto, Bank, Charity, Credit Card, Dental, Home/Life/Auto Insurance,   Medical, Mortgage,  Payroll, Receipts, Savings/401k, Taxes & University Expenses, and  Utilities.
You can modify these labels as needed to customize to your household. I used to have a pocket for every little thing. Electric, Water, Cable. It was just overkill and unnecessary.

At the end of the year, I replace the expanding file with a new one. The most current papers are filed at the back of each corresponding pocket.

I do have separate file folders for cars and household repairs. The auto files are by year make and model. The household files are by address.

We are required by law to keep our personal tax records  for 7 years. This system should help simplify your life and your documents. Additionally, I do keep most receipts for a minimum of 30 days just to be safe.