"Many people are unable to prepare for the future because they are too busy rehearsing the past"

Every document is important when it comes to finances, insurance papers are needed at the time of claims settlement, credit card records while availing loan, loan receipts come handy at the time of tax deductions and so on and so forth. It is important as they will help you at the time of a dispute and also can be used to good effect by your family in your absence. Furthermore it is important to have a back up of these documents in digital or print format.

To read more from this series, check: "The Financial" - Finance for Engineers Series!.