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How long do you have to keep monthly bills... really??

post #1 of 8
Thread Starter 
Do you really have to keep monthly bills for a whole year?

I found another post on here (can't find it now) where someone had been told to keep their paid monthly bills for a whole year! Do you really need to do this?? My sister keeps the current bill - once she receives the next months bill and it shows they received the previous months payment she throws away the last one!

I REALLY want to clean out my paperwork - I'm a piler and I'd like to stop collecting so much junk! I've NEVER had to go back and find an old bill and I'm just wondering if I can get rid of it all! It sure would make life easier!

post #2 of 8
I throw out the bill as soon as I pay it. I usually pay my bills by either the phone or online so I get a conformation number which I write in my check book. If your supposed to keep them why? This is kinda interesting.
post #3 of 8
I keep mine for 2 years, but here's what the pros say:

What financial records to keep and how long to keep them
post #4 of 8
I throw once its payed.
post #5 of 8
IMO, it depends on what the bill is. Utility, telephone, and cable bills can probably be tossed once you get the next bill. I like to keep credit card bills for tracking purposes.

I posted in that thread that I keep my bills for a year. Now I'm wondering if I should do that. This post has given me food for thought.
post #6 of 8
Thread Starter 
Thanks for all the replies!

Thanks for the link 2boys - I need to print that off so I can refer back to it!

Here's another question - along the same lines...

Do you need to keep anything about old bank accounts or old credit cards that have been closed down???

And what about those credit cards??? Do you really need to keep all the old statements?? I view mine online for the most part... and bank statements - I get on daily to watch the balance... do I need to keep them????

I'd really like to toss it all (shredded first of course) but I don't want to go too crazy and regret it later!!
post #7 of 8
We keep them for a few years...

We have a current year file box where all the statements get filed monthly. Then when the new year comes around, we start a new box and the old box goes into basement 'storage'. Each year we pick the oldest box, sort thru it, keep what we need and shred the rest.
post #8 of 8
We lost all our backlog in katrina, and now we know how important the reciepts from major items are. We try to keep track of those things and keep a copy in a fire safe box, a copy in a rubbermaid box, and a copy in a safe deposit box at our back. We figure we're covered for any disaster that way. We also keep our insurance paperworkin those places too. I keep all the important numbers (insurance polices, etc)in my dayplanner. We keep water, energy, etc for a year, then shred at the endof the year. I also keep all receipts and intended to go thru them monthly and toss the trash, keep the important stuff, but I haven't done that!
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