Which of the following documents should be kept organized as part of personal finance management?

Keeping tax returns and bank statements organized is essential for effective personal finance management. These documents serve as critical records of your financial activity and can significantly affect your financial future.

Tax returns are important because they provide a summary of your income and deductions, which is necessary for filing future taxes and can be vital if you're ever audited by tax authorities. Additionally, they serve as a record of your earnings and may be required when applying for loans or financial assistance in the future.

Bank statements, on the other hand, track your transactions and can help you monitor your spending habits, assess your financial health, and ensure that all entries are accurate. They are also useful in budgeting and can help identify areas where you might cut expenses.

By maintaining these documents in an organized manner, you can simplify financial decision-making, ensure compliance with tax regulations, and promote overall better financial management practices.