I’m always asked, “Which financial documents do I have to keep, and which can I toss?” Here’s my list. Print it now, consult it regularly, and most of all, don’t ever toss it out.
THINGS YOU CAN TOSS IMMEDIATELY
Credit card solicitations
Marketing material that comes in your bank and credit card statement
THINGS YOU CAN TOSS EACH MONTH (after you’ve reconciled your checking and/or savings accounts)
Other receipts (Hold on to the receipt if it’s a high-ticket item, such as an iPod, computer, television. For other items, as long as you don’t have plans to return the item, or need the receipt for a rebate or warranty, go ahead and toss it.)
Prospectuses and other information about investments you might be considering
THINGS YOU CAN TOSS AFTER ONE YEAR (after your taxes have been filed)