Getting rid of financial statements

gemmasmith30

We are trying to get rid of the mountains of paper in our filing cabinets before we move and am curious to find out an answer to that ever popular question: "how long should I keep bank statements, credit card statements, payslips, utility bills?"

Neither myself or my husband are self-employed so am wondering how much we really need to keep...especially now that most of our stuff is online!

Any help & advice would be gratefully received!

PNPSUKNET

scan them on to a disk and bin them

Tupperware_Queen

shred first

glider3560

About a year ago, I decided to scan everything in my folders onto my computer (huge task) but they are now searchable PDF files in very organised files. I now scan everything as it is received (which takes about 20 seconds) then keep the paper copy for 2 years before shredding.

pompeyfaith

You really want to know in this day and age keep them forever

This recent case explains why those documents are so important as you will never now when they will be needed

I would box them up and put in loft

http://www.bailii.org/ew/cases/EWHC/Mercantile/2011/B3.html

Loughton_Monkey

Simply get a scanner and good software (I use Nuance "PaperPort 12") which is excellent.

I have 40 years of papers filed on it. I keep original papers for about 6 months and then have a shredding session. Obviously, I also keep originals of Insurance Policies, Share Certificates, Pension Policies, but very little else.

A good scanner - preferably with sheet feeder - is well worth the money.

And PaperPort also provides a 'virtual' printer so things like Internet statments, e-mails, that are worth keeping just get 'printed' directly to PDF files in the software. It is organised just like a filing cabinet. Currently I have 5,400 'files' - say with an average of 50 pages per file, making about 270,000 'pieces of paper'. All on a hard disk - plus backups on DVDs.

97trophy

As above scan to pdf and shred the originals.

casper_g

97trophy wrote: »

As above scan to pdf and shred the originals.

...but be sure to keep regular backups of the files, and store them separately from your main computer.

Incyder

As you are not self employed then you don't need to keep most of that old junk.

I'd hang onto all bank and CC statements and bills for the last year and burn the rest.
I do love a good fire.