Personal Finance 

BVC #13: Financial Snatchfile [VIDEO]

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I talked about how long we were keeping financial documents in the last Bargaineering VideoCast and in it I alluded to this video, which I recorded immediately afterwards. This video is about our financial snatchfile, a red accordion file folder that contains all of our important documents. The video didn’t do a good job of showing the accordion file folder itself so I wanted to take a photograph, which are included after the video.

A better look at our snatchfile:

Financial Snatchfile 1 Financial Snatchfile 1

I also want to thank everyone for watching these videos, I’m humbled with how well they’ve been received (on average the videos get 15,000 views a piece within the first week or two, it’s absolutely stunning). Thank you for sharing them with your friends, thank you for watching, and I thank you for giving me feedback. I love receiving feedback and topic ideas (email). So if you have an idea, please don’t hesitate to tell me.

{ 12 comments, please add your thoughts now! }

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12 Responses to “BVC #13: Financial Snatchfile [VIDEO]”

  1. Wow. I never thought of that. We do have all of our important documents in one place but it’s in a lock box. Not so big of a lock box that we couldn’t carry it but it would be more cumbersome than that. Looks like I need to make a quick trip to Staples.

    Thanks for the video.

  2. It certainly beats a filing cabinet as well. Imaging trying to lug that around during a fire.

    Jim – something else you could put in the snatch file could be birth certificates, passports, and maybe social security cards? Those definitely won’t weigh down the snatchfile.

  3. Martha says:

    Why wouldn’t you just keep a copy of these documents in a safety deposit box off premise? Does anyone still use safety deposit boxes anymore?

    • I still use a safe deposit box but with that, you aren’t able to quickly access files that you need. You would have to drive to the bank and wait in line. The snatchfile negates the drive and wait time.

  4. Paige says:

    Good idea. I have all of this stuff in our lock box, but it isn’t organized. I also don’t have all our bank info in there. I will work on that this weekend.

    @ Martha- We don’t have a safety deposit box. I refuse to pay for one.

  5. Kelly says:

    I love this idea!
    I was working on creating something similar that would be separate from our files in our safe, but instead of making a snatch file I plan to give it to trusted family member. Now I’ll make 2 copies so I have one for the snatch file as well. I just figure with 3 pets and 4 kids it’s unlikely I’d remember a snatch file.

    I would also include a memory card with your most important photos, or possibly a thumb drive with important files and photos.

    Another thing I recently posted about: which would make a useful addition is adding copies of the items in your wallet. That way you have account numbers, phone numbers, and even your Driver’s License number without too much digging. You could put this info on a spreadsheet as well, but I like having actual copies of the cards.

  6. Lucy says:

    Very sensible recommendation. I should get a folder and do this for myself. 😀

  7. thomas says:

    My folder is a tad bit out of date. I also need to update my “secret” thumbdrive with other important data and files.

  8. Patrick says:

    We have a small lockbox that we keep passports, birth certificates and a few other items in. We should definitely update it though. 🙂

  9. Kristina says:

    We also keep birth certificates, our marriage certificate, divorce settlement, prescription list (drug and dosage) and children’s immunization records with the rest of the snatch docs. I like the idea of putting a DVD with photos and a memory stick w/e-files in the snatch file too. Those are small enough to also go into the safety deposit box. Oh yeah! I’ll be keeping the safety deposit box key with the snatch file. Now to find a safe place to store the file so I can find it but a burglar wouldn’t…

  10. AverageJoe says:

    I vote for the safe deposit box. If your house burns down or gets burglarized, you lose all your sensitive info, records, original documents, etc. A client of mine backs up his work computer and stores the back up tapes in his safe deposit box. Storing it off-site is the most prudent solution. How often do you really need to check that stuff anyway?

  11. FlyFisher says:

    This will be added to my current financial record keeping. Thanks for the advice!

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