9. Keeping Good Records
Use the list below to remind yourself what to keep and what you can discard.
Safe deposit box
- Birth certificates
- Citizenship papers
- Marriage certificates
- Adoption papers
- Divorce decrees
- Wills
- Death certificates
- Deeds
- Titles to automobiles
- Household inventory
- Veteran's papers
- Bonds and stock certificates
- Important contracts
Active File
- Tax receipts
- Unpaid bills
- Paid bill receipts
- Current bank statements
- Current cancelled checks
- Income tax working papers
- Employment records
- Health benefit information
- Credit card information
- Insurance policies
- Copies of wills
- Family health records
- Appliance manuals and warranties
- Receipts of items under warranty
- Education information
- Inventory of safe deposit box (and key)
- Loan statements
- Loan payment books
- Receipts of expensive items not yet paid for
Dead Storage
All Active File Papers Over Three Years Old
Items to Discard
- Salary statements (after checking on W-2 Form)
- Cancelled checks for cash or non-deductible expenses
- Expired warranties
- Coupons after expiration date
- Other records no longer needed
Destroy all personal documents
It’s best to destroy all personal and financial documents with a shredder or at least by ripping them into small pieces. If this information falls into the wrong hands, you could be a victim of identity theft. Remember, most paper documents can be recycled.