In the middle of all this spring cleaning don’t forget your home office and all the paperwork that accumulates in there.
I try to clean my files at tax time, save what I need and purge what I don’t. Even with the best of intentions the filing cabinet is still busting at the seams before I know it.
To really clean things out and get a handle on the paper mess you should have a good shredder and a fireproof box. A bank safety deposit box is great for storing important documents but you can’t always get to them when you need them, better to have a fireproof safe in your home.
Now start going through all of that paperwork. There is so much of it you can toss, things that we have been programed to keep, like bank statements. If you really feel like you must keep them, keep only one year. My bank has statements available online, anytime I need them. You can also download the statements or scan in the paper ones and store them in a remote filing system like Dropbox. Just don’t store your only copy on your computer, if your hard drive is fried, there go your files.
The same goes for credit card bills, once you have reconciled and paid it, just shred it. If you need a copy later you can get it online.
Statements from retirement accounts, savings and investment accounts. You can shred these as the new ones come in, again, they are most likely available online.
Since the IRS can go back seven years to audit you keep all tax related paperwork for seven years.
Appliance manuals can quickly pile up. They are a necessary evil. If something goes wrong with the stove a year after you buy it, it will help to have the manual and purchase paperwork for warranty service.
Keep any insurance policies that are in force. When you get a new one, shred the old one.
Some things need to go in the fireproof box, these include:
birth certificates
marriage licenses
social security cards
copies of your will
divorce decrees
The easiest way to tame the paper is not to let it in. Find out what items you get regularly in the mail that you could receive electronically. Easier to store, less paper to shred.