How to dispose of paperwork?
2 years ago
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Paperwork...may I please throw some of this OUT?
Comments (14)I've never heard of the person who wrote the list in the link above, but I'd bet my life savings that she has never been divorced. If she had been, surely she'd know that her advice to throw away many of those records after 3 years could easily cost someone of modest means $100,000 or more, since you'd no longer be able to prove what is or isn't marital property. In many states, your ex would wind up with half of savings, investments, and stuff that should have been yours. Absolutely nuts IMO....See MorePaperwork Reduction Weekend
Comments (7)marie, maybe giving some thought to the "why's and wherefor" of the papers might help. We've established you don't need the papers for taxes, so we'll ignore that issue. Lease-contract between you and the landlord. Once you have each fufilled your obligation it can be pitched. Security deposit back in your hand means the lease is in the trash. Keep the landlord's name and contact info in your address book incase you need a future rental reference. Same with mortgage papers. Once the house is sold, the mortgage has been paid in full. We did our last sale FSBO, so we will keep a copy of the contract for three years. Then it's trashed. If they can't sue me for something in that amount of time, they are out of luck. I read the Real Simple link and I thought it was confusing on the year end credit card statement so I asked DH to read it. He gave me the example of what happened to us last year. We were sitting on several mortgages before our old house sold and we didn't want to liquidate any of our funds. We did a credit card cash advance for $17,000 on a zero interest card and put that money in our account. If we were audited for that year, the auditor would run an income test and say we under-reported our income by $17,000. We have the credit card paperwork to show the cash advance, therefor it's not income. If you don't need it for taxes, you don't really have to save the thing. Many of us are now paying lots of household bills with credit cards and keeping that statement is a simple way of showing the bill was paid. But depending on the statue of limitations which I "think" is six years, it may be hard for someone to come after you for payment six years later. Marge would have an idea on that. The monthly statement has to be checked to make sure the charges are correct and your account has been credited with a payment, but otherwise, there isn't a need to save. Same with utilities. Check to see if they received your payment, pull off the new bill portion and pitch the rest. Same with the phone bill. Those of us with tax needs, business deductions and all of that other good stuff keep a ton of this information. For the average person who just files a regular 1040 and isn't messing around, those records aren't needed. Make sense? Gloria...See MoreNeed ideas for more attractive storage of old paperwork
Comments (18)For those who save all their receipts, do you scan them? I scan some -- for items, say, $30 and up (not clothing) -- and attach them to my photo house inventory, when I think I need to. But many receipts use ink that is meant to fade after a while, even when you keep them in a box tucked away in a closet (I don't know why some stores do this, but it is not unintentional). I still have my computer receipts, receipts from housing projects (wood floors, carpeting), some other electronics items. But I just can't imagine saving so many, physically! (Altho I do admit looking at an old credit-card statement and not having the vaguest idea what a $50 purchase at Best Buy was for. It took me a while to remember it was a gift card for one of my nephews.) A few times, Amazon purchases came without receipts. Not Marketplace vendors, but direct-from-Amazon purchases. Annoying....See MoreOrganizing schedules/paperwork in a busy house
Comments (4)I go through the mail each day when it comes in. Anything I don't want like ads or junk mail gets thrown away. Bills go to dh's desk and magazines go to a specific spot for the person who reads it. For instance some go in the bathroom and the kids go on their beds. We have a mudroom so the kids are supposed to drop off coats, backpacks and shoes there. We are transitioning from summer to fall/winter right now so it's a mess. It works when we are in season. I just bought new furniture last week so now each child has their own desk for homework. That sort of works. We are still developing the system. I may need to buy a lamp or two. The kids have always gravitated to wherever I am (like the kitchen)for big school projects. We may have a playdoh structure of the zoo or ancient Egypt on the bar for a few days. The desk gives them a place to keep the less messy projects. I bought some office type "in trays" for tracking each child and papers. So far this is working. It allows us to have a place for all of those papers. I don't throw away homework that I didn't recognize as homework. I also have a tray for special event papers that are always coming in like class trips, birthday parties, weekly spelling words, etc. These are usually a time related event so I can find them on quick notice and then trow them away after the date has passed....See More- 2 years ago
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