Home Talk Newsletter

Home Talk^® from Martha Reber

Articles: Keeping Up with Your Financial Records Rug Reminders Hints for Finding Quality Plants

Keeping up with Your Financial Records

Do you have a system to keep your personal financial records in order? If so, would someone else be able to decipher this system? It is important to keep vital information about your family's assets and financial obligations in order. It is also a good idea to have a current list of important contacts, such as tax counselors, attorneys, bankers, brokers, insurance representatives, creditors and debtors.

You should also make sure that your titles to property and possessions are filed safely and that you have backups in case of burglary, fire or any other disaster. Examples of important papers to keep in a safe-deposit box or in an equally secure place are:

- Birth certificates

- Original copies of all wills

- Marriage certificates

- Divorce documents or other papers

- Adoption papers

- Citizenship records

- Service papers

- Certificates for securities

- Government bonds

- Proof-of-ownership papers

- Updated home inventory

A safe guideline to follow is if you can't replace the document or if it would be difficult or expensive to replace, put it in a safe-deposit box.

Additionally, you should keep your tax records for three years. The IRS can audit federal income tax returns within that time period, unless a taxpayer fails to report more than 25 percent of gross income. In that case, the time limitation is six years to collect the tax or start legal proceedings. There is no time limitation on fraudulent returns or if someone fails to file a return.

After you've determined what you need to keep at home and what needs to be put in a safe-deposit box, you should set up a file. You can set up an active file to hold things such as unpaid bills, paid receipts, current bank statements, canceled checks, and three years worth of tax returns. It can also hold employment records, credit card information, insurance policies, social security information, family health records, appliance manuals, warranties, education information, and a list of the items in your safe-deposit box.

You should then prepare a binder or use your computer to compile a list of information such as savings and checking account numbers, the location of the safe-deposit box, all family members' social security numbers, and all insurance policy information. Finally, let a trusted family member know where everything is in case of an emergency.

Rug Reminders

     If you have an Oriental rug, chances are you want to keep it in tip-top
     condition. But, keeping it looking its absolute best can be a challenge with all
     the traffic that passes over it. So, here are a few tips that may help to keep
     your rug looking great.
     - Rotate your Oriental rug every six months to get even wear.
     - Your rug needs to be made dirt- and dust-free every 18 months in normal
       traffic areas (every 12 months in heavy traffic areas) to let the natural fibers
       breathe.
     - Check the padding underneath your rug. The proper pad will protect it in
       four ways. First, it will prevent your rug from sliding. Second, it will elimiante
       friction between the rug and the surface below. Third, it will keep dust and
       moths from lying under the rug. Lastly, it will keep humidity from
       transferring from the floor to the rug.
     - Make repairs as they become necessary. A small repair can prevent further
       damage to your rug, which can save you from big expenses in the future.
     - Upgrade or trade your rug in before it depreciates.
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Hints for Finding Quality Plants

If you are a plant lover who is in search of the perfect one, you probably try your luck frequently at your local garden center. And, although you may be tempted by some of the great prices, before you bring home any plants, you should realize that to find the best ones, you need to know when to shop.

Unless you are willing to do so early, avoid shopping on the weekend. This can be the store's busiest time, and you may be competing with many others for the best selections. Instead, consider shopping on a Thursday or Friday. If you notice a plant you really like, don't hesitate to buy it.

Most stores have a schedule noting when the shipments arrive and what will be on them. Request to have an employee review the schedule and tell you when to be there to get first choice of fresh, healthy plants. If the store will be closed when a delivery is made, plan to be there when the store opens to select the freshest plants.

When shopping, keep in mind that the best plant in the bunch may be the smallest. Besides, smaller plants can be easier to transplant and may have the best roots. The roots shouldn't be crowded or wound around each other, which could make it difficult for them to thrive when transplanted.

Finally, if you're thinking about investing in a tree or a shrub, be sure to investigate the bark for cuts or nicks, which make easy entryways for disease and insects. Look for spots or streaks on the leaves, which can signify a nutrient imbalance or disease. If you see a mass of light-colored roots, the plant is probable a good choice. If you see roots that are thick, brown and wrapped around each other, think twice before taking that tree or shrub home. Its growth and life may be limited.