What do you do with your bank and billing statements?
 

What do you do with your bank and billing statements you get in the mail? So far I keep them in boxes and so have aquired a significant amount of paper over the years. I would like to go paperless but most of the companies I deal with don't have that option. How long do you usually keep your statements?

paystubs, old paid bills, and insurance papers get stapled together and buried in a drawer for when I need kindling.

well I haven't burned it yet but I doubt it'd matter.

I used to keep them for awhile, but lately I've just tossed em.

keep financial records for 7 years since that's as far back as the IRS is allowed to go back.

try to keep them organized by year if you can at the minimum.``

Simply throwing your bank statements out (or burning them) can cost you quite a lot of money. If you get audited and can't explain the money on your account, it's their word that's valid... save the papers!

right and while paperless is a great "idea" computers make mistakes and can be manipulated. a paper record is a permanent record.

I guess I should start keeping them again!

They get filed in a binder for the current year. After the year is over, they get put in a box and then finally get shredded after the IRS says I can.

i toss em. i don't care if i get audited, i have to reciepts, no statements, no nothing. I'm screwed - I'm aware. Hope the IRS doesn't see this - heheh! :)

I usually file them away. Especially receipts--they are good to have if something breaks and you need to have the company replace it.

My bank and billing statements usually get thrown away. I'll go on this streak of keeping them around for a while, then I'll usually just toss 'em. Bad habit, probably.

i keep them in a binder for a year, after that year that go in a box, and after a year after that they go in the shredder, i always have atleast 2 years on file.

If you get audited, typically you should be keeping your tax-relevant items (1099, 1098, w-2, k-1, etc.) for seven years.

Bank statements and bills I keep for one, then burn.

Due to some recent events at my job, I keep ANYTHING that has my signature on it, and anything that has anything to do about my money.

i don't think i toss them. but i certainly hide it away in my room in no organized way so they're lieing around lost somewhere... some are perhaps thrown away as well.

Ditto.

I've actually got about 2 more years before I have anything I can burn- been working and had bank account for 5 years. (started at 17, i'm 22 now)

hmm well i throw out everything...

pay stubs
bank statements
reciepts (unless something i may want to exchange if it breaks.. ala cell phone /game cube)

im 18 (19 soon) so I dont really know about dealing with the tax shit... i figure they take about 600 dollars a month to provide me with nothing special so they got thier share... if they have a problem... bah ill just move to a new country

I shred everything that doesn't have to do with a tax refund.

ahhhh, I just chuck it all in the garbage. Although it is probably a really really bad idea.....damn I am gonna start working on saving em all.

I try to keep them, but I wind up losing them.

I don't really care too much at present...

Keep all the reciepts until warranties expire, have a nice little file in the fireproof safe for all the IRS and bank related statements.

I keep everything, store them together in years.
I've got stuff going back to my teens.

And thank god, I've done this...in my field you need clearances.
And they ask you EVERYTHING (when, where, who, etc) for these going back 10 years.
Sometimes more.
(You know what it's like to figure out who was your boss 10 years ago?)

IRS does require 7 years worth for audit purposes.
BTW...they've even done a background check on me for my previous Dept. of Treasury position.

It's just best to get a box, mark it for the year, and put it to the side.

Shred what you don't need for tax purposes.

I know a guy that threw it all in the garbage and got his identity stolen. Serious mind bend!

I've been throwing it all in the garbage and using my banks online banking stuff with Quicken.

Maybe I should start saving things. I'm only 18 though, its not like the IRS is going to come audit me for the 5,000 I made this year.