Cleaning & Organizing
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What do you do with bills, statements, receipts, etc...

I'm cleaning out our office but not sure what to do with bills, statements, receipts, etc. We have a file that we keep our tax return information in and other important documents. How long do you keep your bill statements after they're paid if you keep them at all? Would it be safe just to shred them all? Is it a good idea to make the transition to complete online bill paying to reduce all this clutter? Should store receipts that have partial credit/debit card information be shredded? Any suggestions for purging a cluttered office?

Re: What do you do with bills, statements, receipts, etc...

  • Anything that is paid online (like our directv), I get rid of. They email me the bill but also send a paper one; no idea why. I only keep receipts for things I might need to return, and things like health records, student loan statements, receipts for work on my car, etc. We are lucky to have a fire pit so I just burn everything else.
  • Bill statements (Store credit cards, utilities etc)....Keep until the payment is credited.

    Store receipts...keep until you know you are not returning it or using the associated warranty.  Warranties require proof of payment.

    Shred anything with your name, address, phone, partial credit card number.  

    Put  your shredder at the location where you open the mail.  Open mail, discard trash into shredder as you open it.  I also compost the shreds as a brown item.  

  • imageCrash Into Me:

    I don't keep any of those things. All bills/statements come online and most places keep at least the past 12 months worth. Receipts-I might keep them for a while, but they usually stay in my coupon holder if I think there's any chance I might need them.  Ones from the grocery store, Target, fast food etc. all get pitched immediately.

    Keep your tax statements for 7 years.  

    The less paper you have coming into the house, the less you have to deal with.

     

    This exactly, I'm  a CPA and I get zero bills in the mail, I pay anything and everything I can online and only keep receipts/prop tax statment, etc. I also scan anything in I can, and shred the original, makes tax time so much easier! Now if I could get my clients to do the same!

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  • I've switched most things to paperless billing to cut down on how much paper mail we're getting and having in the house.  I shred almost everything.  I keep a file for the current tax year to store receipts for work expenses, donations, etc to make it easier come tax time.  If I have receipts for large purchases or electronics I usually try to keep it with the owner's manual for that item just in case I need to verify purchase date, etc.
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