Financial paper work question!!!

[jaksilee]

Just to preface this, I am moving out of state to live with my dbf (dear boyfriend) and moving from a 3 bedroom house with full attic and basement to a one bedroom apartment. Now for my question.......

I need to narrow down what paper work I take with me. I just need to know how far back I need to keep bank records, paycheck stubs and old paid bill records.

Also if anyone has any good tips on how to make a move like this it would be great!


TIA

[terry1156]

Re: Financial paper work question!!!

Do you have a place to store your records if you don't take them along (like your parent's house), or do you have to take it ot toss it?

[jaksilee]

Re: Financial paper work question!!!

It is take it or toss it! We plan to get a larger place in a yr or so but for now it will be a little cramped!

[terry1156]

Re: Financial paper work question!!!

Take tax returns and anything that has a warranty for large appliances. If your banking records are up to date, I think you can shred them - all you need to do is keep them from the beginning of the year at the most. Same with paycheck stubs - those can be tossed since you'll get that information again from your employer for taxes - keep stuff for this year at the most.

I tend to get rid of clutter - most financial information can be retrieved again from the source (although a pain) if absolutely necessary.

[jaksilee]

Re: Financial paper work question!!!

Thanks so much!!!

[Bluezy]

Re: Financial paper work question!!!

I keep ALL tax records for no less than 10 years. Banking records and transactions I keep no less than 18 months. All other monthly bills are kept for 1 year.

If you are limited on space, keep as much information online as possible, like banking statements.

However, what items you toss, be sure to shred the tossed documents!

All the best for your future, hun!

[mom-from-missouri]

Re: Financial paper work question!!!

Do you have a scanner?? If so, some of the stuff you can scan and put on CD, such as bank statements. One CD will hold several hundred pages of info.

[flash]

Re: Financial paper work question!!!

Anything supporting taxes filed, keep 10 years, paper original copies. Other things are fairly disposable. I like receipts for one year, but DH dumps everything once the statement goes through.

If you are going to be setting up a budget, either spread sheet or save anything you need to show your spending trends (i.e., how much for groceries per month, averaged over a year), etc. Once you have the info compiled, you can toss.