Abstract: A combination notebook/file folder includes a first side panel having upper and lower edges, a second side panel having upper and lower edges, channels in the upper edges of the first and second side panels. The combination also includes a binding edge which connects together the lower edges of the first and second side panels, a plurality of binding rings in the binding edge for holding a plurality of sheets of paper therein, and left and right hangers selectively retractably and extensively mounted in the channels at the upper edges of each of the first and second side panels. Each hanger includes a main body, a hook at an outer end of the main body and a post extending from each main body and engaged within a respective elongated slot for limiting sliding movement of the hangers in the channels. Each main body is elongated and includes a cut away portion at an inner end opposite the hook to form a reduced width portion.