Spring Cleaning For Your Family Finances

by Lee Ann Coates

Since you have already gathered all the information for taxes, it is a perfect time to “spring clean” the family finances.  We all have paper we don’t need, but, we are never sure what to keep and what we can toss. Money Talk News had some guidelines that we can follow.

1. Shred what you shed.  If you have any personal information that you don’t want to share with a “dumpster rat”, you will want to shred it, or cut up with scissors, or tear into small pieces. ( any personal information, like name, address, Social Security number ,birth date,  & passwords.)
2. Throw out the obsolete

              Old utility statements, reconciled bank statements and ATM slips

              Reconciled credit card statements

              Old receipts and cancelled checks (unless needed for taxes or proof of purchase for warranties

              Instruction manuals for things you no longer have

              Expired warranties

              Expired insurance policies

       3.   Papers you keep for life

              Birth & marriage certificates

              Divorce, adoption, and immigration paperwork

              Legal documentation including power of attorney, wills, titles, deeds and contracts

              Car titles

          4.  Papers to keep for shorter time

               Receipts for big purchases (for insurance purposes)
               Final bills of any service you drop (internet, cable, phone in case there is a dispute)