What To Shred - Organizing Paper

Once upon a time, my biggest personal organizing challenge was... PAPER. I had piles of it. Folders full. Boxes tucked away. I was scared to death of losing a single piece, just sure that I would need it the moment I threw it away. But I soon realized that I was dealing with a lot more stress by keeping it all, and it was time to fire up the shredder.

You'd probably like to do the same, but which papers are safe to shred? Follow these tips from Jenny C. McCune of Bankrate of what you can shred and what you need to store:

Taxes

• Returns
• Canceled checks/receipts (alimony, charitable contributions, mortgage interest and retirement plan contributions)
• Records for tax deductions taken
• Length of time to keep: Seven years

Bank Records
• Go through your checks each year and keep those related to your taxes, business expenses, home improvements and mortgage payments.
  
• Shred those that have no long-term importance.
• Length of time to keep: From one year to permanently

Bills
• Go through your bills once a year. In most cases, when the canceled check from a paid bill has been returned, you can shred the bill.
  
• However, bills for big purchases -- such as jewelry, rugs, appliances, antiques, cars, collectibles, furniture, computers, etc. -- should be kept in an insurance file for proof of their value in the event of loss or damage.
• Length of time to keep: From one year to permanently

Credit card receipts and statements
• Keep your original receipts until you get your monthly statement; shred the receipts if the two match up.
  
• Keep the statements for seven years if tax-related expenses are documented.
  
• Length of time to keep: From 45 days to seven years

For the full list, check out this article from Apartment Therapy.

Photo Source: Apartment Therapy