6 reasons to keep receipts

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I’ve been burning the midnight oil for the past 2 weeks. I have no time to clean the house so I just let the mess come around. Our dirty clothes were piling like a mountain and the erratic weather of this autumn season gives me more reason not to even bother doing it. Guess what I’ve been up to? Well, not so big deal, it’s just the IELTS exam! Waah! Honestly, I still have the post effect syndrome from last Saturday (and Friday). But I’m not gonna tell the story on this post. Maybe next week? I want to move on and let loose for now. Anyway, I still need to wait for the result for another 2 weeks. Whatever the outcome, I believe that it’s God’s will. For now, I lift up my fear and anxiety to Him and pray for the most favorable result.

Since I was undoubtedly tied up with the review, I barely had time to update our budgeting table. Seeing this clutter reminds me to get back on track. Plus, of course, the list of household chores that were delayed.

You might wonder why do I still keep these receipts. Well, I’ve come up with these reasons:

#1 Budget audit – Basically, our (hubby and I) primary reason for keeping these receipts is to keep track of our budget. I have an excel file to key in all the expenses with a specific category and particular amount of budget. This enables us to see if we are nearly reaching the fund allocated.

#2 Compare prices – By keeping the receipt and recording the expenses, I can easily compare various store prices. Hence, having an idea of which store is the most economical. Of course, considering the quality of the item.

#3 Warranty and Exchanges – Previously, we weren’t really into keeping all the extra paper mess, until there was a time were several times, that we needed to exchange an item, which is still covered by warranty, but unfortunately, we cannot show any proof of purchase. And that’s too bad! From then on, we keep the receipt, plus we take a photo and save it on a warranty folder in case the receipt would turn blurred.

#4 Reimbursement –  This is essential especially for insurance purposes. Usually, we need to pay upfront for our medical and pharmaceutical expenditures. We then need to present a receipt as a reference for an insurance claim.

#5 In cases of emergency – I actually learned this reason from one of the insurance agent Tita Mercy. She advised us to keep the receipt when dining out or buying food just in case there would be episodes of diarrhea, food poisoning, or other medical condition related to that particular food intake. Having the receipt as a proof, you can get back to the store and make a complaint.

#6 Tax – Here in Sydney, there are items or charges that are tax deductible which we are not yet familiar, thus, we can only find out during annual tax file through consultation with a tax specialist. In that case, we keep all the proof of purchase as a reference. By the end of each year, I start to clear all the receipts and retain only the important ones.

Do you keep receipts as well? Do you have any other reasons for keeping it? Kindly share on the comment box 🙂

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