Conquering the clutter in your financial closet... what should you keep?

Not sure what receipts to keep, throw out or stash away... and for how long? Here's a general rule of thumb to help unclutter your financial closet.

You need only to keep credit card receipts, ATM transactions, deposit and debit card receipts until you verify the transaction on your monthly statements, and then you can shred them. Always remember that any financial transaction, receipt or account statement should be shredded. NEVER throw them in the trash. PERMANENT items you may want to keep:

• Educational records
• Employment records
• Health records
• Retirement and pension plan information
• Contents of your safe deposit box

CURRENT items, which need to be reviewed every 3-6 years, before deciding whether to continue keeping or shredding them include:

• Canceled checks
• Bank statements
• Insurance policies
• Home purchase, repair and improvement records
• Warranties
• Income tax records

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