Sometimes there are just specific things that you should not throw away. These are often very important financial documents. Below you’ll find a quick list of which financial documents you should really just hold onto no matter what.
- Important personal documents
There are many important personal documents that should simply not be thrown away. These include social security cards, birth certificates, military records, and divorce licenses. All of these items are important in order to help verify a person’s personal identification.
- Records associated with your bank account
Keeping both checks and receipts is fairly important simply for having basic documentation of your most recent transactions. Additionally, you don’t want random people viewing this very personal information. This information should be kept at least somewhat available for a period of about 6 years, at least if there’s a need to go back into taxes for any reason.
- Taxes
Throwing away your tax statements is never a good idea. This is one of the most important things to have ready for any future audit or reason in general. The IRS already has enough reasons to come after you and throwing away any pertinent tax info is a recipe for disaster. Put anything related to taxes in an easy to find folder.
- Insurance information
Insurance information is also very important to have easily available if needed. You never know when there might be a health issue and the worst thing would be to have to spend a great amount of time in an emergency digging through old papers.
- Living agreements
If you have a rental agreement or apartment agreement with anyone, keep it on record for any possible scenario. There is no reason to get rid of anything this important in your life. You never know what kind of legal situation might pop up or require a thorough reading of your lease or agreement.
- Investment paperwork
The final piece of paperwork that you shouldn’t throw away involves any important investments made in recent years. There’s little to no reason to throw this out. Make sure to hold onto it as further proof of your important financial investments. It is also important to have this paperwork when it comes to filing your taxes efficiently.
