March 18, 2009: Yonkers, NY:  While 89% of Americans claim they were at least fairly well organized or better when it comes to their important financial documents, less than half believe they can easily find a needed document. 

According to the recent Consumer Reports poll, 24% of those claiming to be well organized had either lost or forgotten about critical paperwork.  Among all respondents, 16% had lost money or incurred a charge because of the poor organization of their paperwork. 

Married and domestic couples agree as to which sex is more organized: 58% of the women surveyed said they had a better idea of where their most important documents were than their spouses did; only 30% of the married men thought they had a better idea.  But some of the respondents may not know as much about their partner as they think: 5% admitted they had hidden accounts from a spouse or significant other.

The survey also revealed that 40%of Americans think they can find a document at a moment' notice, and 49%can do so with little looking.   "Good record keeping is essential and makes regular events like tax time or unexpected emergencies like the passing of a loved one go smoother. If you're disorganized about your paperwork, you can lose a significant amount of money on late fees and interest charges," said Mandy Walker, sr. project editor, Consumer Reports Money Advisor.

More than 50% of those surveyed said they put documents through a shredder, 26% tear them up, 15% claim to burn them, and 5% admit to doing nothing before they trash them. 

The Consumer Reports National Research Center conducted a telephone survey of a nationally representative probability sample of telephone households. 1,114 interviews were completed among adults aged 18 +. Interviewing took place over December 3-6, 2009. The margin of error is + - 3.1 points at a 95 % confidence level.

Consumer Reports Money Adviser is a monthly subscription only newsletter that answers tough money questions and provides expert financial advice. Its proven information and successful strategies can make any financial decision an easy one. Each month, CRMA provides feature articles and helpful investment, savings, and spending advice that will help prepare consumers for anything life may bring them. For more information visit: www.ConsumerReports.org.

Source: Consumer Reports