Paper Purge: How Long Do I Need To Keep It? Part 1 | Families
The eternal question is how long do I keep this piece of paper. We worry that we may need it someday. Here are some guidelines for some of the main kinds of paper we all deal with.
Bank Records - One year, unless you need the records for your tax filings. Then you’ll need to keep them as supporting tax documents for seven years.
Bills - One year in general. If the bill is tax related, you need to keep it for seven years. If it is warranty related, you need to keep it for the length of the warranty.
Even better, sign up for online banking and bill pay and stop these papers from coming into your home in the first place.
*These are suggested guidelines only. Your situation may be different. Please consult your accountant or tax attorney.
Andi Willis is a Professional Organizer and the owner of Good Life Organizing based in Perry, GA. She is a home organizing expert who loves to help people find creative solutions to organize their homes and simplify their lives. Andi can help you get past the clutter and get on with your life!