Tips and tricks for saving, organizing, and finding your receipts

Why does it help to keep your receipts?

Before you crumple up your receipt and throw it out, consider the many ways that little piece of paper can benefit you in the future. The most obvious reason to keep your receipts is to have a record of how much you spent on a dinner or purchase, especially if you’re splitting the costs with other people.

But even if you don’t need to save a receipt to remember how much you’re owed, it still helps to keep it as a note for how much money you spend in total. Organizing your receipts can give you an accurate measure of how much you are spending on a weekly or monthly basis to help you create a budget plan for yourself.

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Keeping receipts can also be helpful for receiving refunds or reimbursements on purchases. If you change your mind about an outfit or find a better deal on a home appliance, having a receipt on hand is an easy solution for a quick return.

You can also use receipts to get reimbursements from your employer, depending on your company’s policy. A lunch with a client, train tickets from your commute, or even spa days for your mental health can be expensed by your workplace, so it doesn’t hurt to hang onto your receipts from work-related outings. If you work a physical job, you may even be able to apply for reimbursements for treatments regarding workplace injuries.

How to save and organize your receipts

Saving your receipts can help you save money and keep track of your spending habits. Here are some tips on how to keep your receipts organized:

Use a binder or folder to keep them in one place

It can be hard to keep track of your receipts if you don’t have a designated place for them. Instead of stashing your receipts in various purses and pockets, use a folder or binder to keep your collection in order. Most receipts are printed on thermal paper, which can be easily damaged. When storing your paper receipts, keep them away from heat or moisture to avoid the chances of blurring the text. If you find that you’re overwhelmed with receipts, use these tips on sorting through paper clutter to stay organized.

Go digital with electronic receipts

Save a tree by opting for electronic receipts. Many stores now offer customers the option of sending their receipts via email or text, which can be entered at checkout. Create a file within your inbox to store all emailed receipts, take a screenshot and save it to your camera roll, or download your receipt PDF and upload it to the cloud with OneDrive. If you want to digitize your physical receipts, take pictures or scan them with your smartphone. Making digital copies of your receipts can also ensure that the contents are stored in case your paper receipts are damaged or misplaced.

Use a digital spreadsheet

A digital spreadsheet for your expenses can keep all your financial information in one handy place. If you’re only interested in storing receipts to keep track of expenses, you can enter the dates and costs into a digital spreadsheet tool like Excel. With Excel, you can make separate sheets for different bills, receipts, and other expenses to make it easier to manage everything.

By storing and organizing your receipts, you can stay up to date on your spending habits and make returns when necessary. Find more budgeting tips to make the most of your finances.