Which Financial Records to Keep
I’ve been wondering for years how long you need to hang on to financial records, such as receipts, credit card statements and bank statements. I literally have a box full of restaurant, grocery store, gas station, and ATM receipts that date back to the late 90’s. Not to mention a file cabinet packed with old bank and credit card statements. Finally, I’ve found an anwser! Real Simple has a list to help you decide which financial records to keep.
The highlights:
- After a Month: ATM receipts, credit card receipts, and small non-warranty purchases
- After a Year: Monthly credit card and bank statements, paycheck stubs (I have stubs from 1998!), phone/utility bills
- After Seven Years: W2’s and 1099 forms
- Keep Forever: Annual Tax Returns, major purchase receipts, home improvement records
Looks like I’ll be having a shredding party this weekend!
Posted on Tuesday, February 13, 2007 @ 12:18 pm by BudgetFreak
Filed Under: Organize , Tips
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