The time has come to start decluttering paperwork in our house. Currently it just gets dumped in the dining room, or in The Beloved's study. There is no organisation. Now I have a clear game-plan, and I shall be setting up folders for storage of the things that need to be stored. The new system will start at properly at the end of the month, but I'll backdate my records to the start of April 2017 (the start of the tax year).
A while back I decluttered a load of papers, and I need to do more. Once the new system is up and running, I'll return to the existing piles and declutter them according to the rules of the new system.
One Year
- Bills, such as utility, cable, phone, and credit card statements
- Pay slips
- Bank statements
- Receipts (for many 90 days or less is sufficient). Exceptions - receipts for bigger ticket items should
- be stored with warranties or home inventory, and save those receipts needed for tax documentation
Seven Years
- Personal tax returns and supporting documentation
Indefinitely
- Loan documents, for the life of the loan, plus payoff statements forever
- Retirement statements (until all money has been distributed)
- Vehicle titles, and maintenance records (until no longer own vehicle)
- Warranties (until no longer own item, or warranty expires)
- Personal identification and records, such as birth and death certificates, marriage certificate, wills, passports, degree certificates
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