Keep track of your new stuff

Now that the holiday gift-giving season is over, it's time to take care of the record-keeping chores that come along with owning new things. This is especially important if some of your gifts are expensive items.

• Manage warranties and instruction manuals. Place the new ones in your warranties and instructions file folder. (You do have one, right?) Attach any receipts you have, even if they’re gift receipts. Go through your old warranties and instructions, and discard those for products you no longer have.
• Fill out and send in new registration cards. Yes, they’re a pain to deal with. But providing the information allows the manufacturer to contact you if there’s a recall or other problem with its product. Many manufacturers now let you register products online, instead of having to mail in the card. There’s no need to fill in all the demographic data manufacturers often request. And unless you want spam or mailed promotional material, look for a checkbox or other ways to opt out of receiving advertising.
• Update your home inventory. Now is the time to update your personal inventory (or create one) for insurance purposes. The free KnowYourStuff home inventory software from the Insurance Information Institute makes the job easy. It even lets you add photos and copies of receipts. Keep a copy of everything outside your home (at work or in a safe deposit box, for example), in case the original records are destroyed or become inaccessible.
• Check your insurance coverage. If you or anyone else in your household were lucky enough to get some valuable gifts, consider increasing the limits of your home or renter’s insurance.

— Anthony Giorgianni