AboutJan Hayner Expertise I can answer any questions on Home organizing, file and paper management, organizing for parents, kids, senior citizens and on housekeeping and cleaning solutions.
Experience I have been a Professional Organizer for 9 years, I am considered an expert in my field on the internet and have written several informational books on organizing.
Organizations I am an active member of Faithful Organizers (An International Association of Christian based Professional Organizers, a past member of NAPO (the National Association of Professional Organizers)a member of an association called Women in Management, a member of Money Smart Wisconsin-Sheboygan and was a business owner for over 25 years.
Education/Credentials A high school graduated a the rest of my learning capablilities came from making a lot of mistakes in my lifetime and learning from all of them.
i'd like to know how long i should keep my credit card statements. i purchase
all kinds of things on my cards but don't want the hassle of storing them for
7 years like taxes. can you please provide me a "general rule" in regard to how long i should keep my credit card statements as well as any "exceptions
to the rules" you might know?
thanks, lester
Answer Hi Lester;
There are certain documents you need to keep forever, such as birth certificates, marriage licenses and your Social Security card. Additionally, legal documents like divorce decrees, adoption papers, death certificates, powers of attorney, citizenship papers and property-related documents should be held indefinitely. Ideally, these documents should be held in a safe in your home.
With regard to credit card statements, utility and cell phone bills, the rule of thumb is to keep these items for a minimum of three months. However, if you have the filing space, I recommend you keep them for one year as issues may arise with your bills and it is always helpful to have your own copies on hand. You can also get a year end statement from your credit card company that will eliminate all of those pesky little papers from month to month.
As for bank statements, check registers and copies of cashed and canceled checks, you should keep these items for seven years. Any supporting documents for your income tax returns such as bank statements, W-2s, 1099s and year-end brokerage statements, should be kept for this period of time.
In an effort to keep your files as uncluttered as possible, you can discard bank deposit slips and ATM receipts once you confirm the transactions on your monthly statement. Although the same holds true for credit card receipts, you may want to keep those receipts for expensive items, such as jewelry, in case you need to prove an item's value if it is lost or stolen.
Finally, with the rise in identify theft, it is always a good idea to either use a shredder or tear up your old receipts and bills to avoid any chance of having someone obtain your personal information for ill use.
