![]() Although they aren't necessarily financial records, birth certificates, marriage certificates, divorce decrees, and degrees or diplomas also fall in this category. You will never have to worry about forgetting or being late again. The Debt Freedom Planner includes monthly trackers to track your: Paydays. Keep indefinitely: medical records, real estate deeds, and car titles (as long as you own the car). Banks and financial institutions make BILLIONS of dollars off of late fees and overdraft fees.Keep for 7 years: receipts for major purchases, income tax records, loan contracts, mortgage contracts and payment records, investment purchase records, year-end investment summaries, other final payment documents.Keep year-end summary statements for 3 years. Keep for 1 year: monthly utility bills, pay stubs, credit card statements, investment statements, bank statements, and the like. ![]() Generally, you can follow this schedule: X Research source At the end of the calendar year, go through your files and shred or delete records you no longer need to keep. Being organized with money and finances is about more than just paying bills on time and having some cash to spend. Just as you may do a spring cleaning of your living space, your financial records could use a yearly deep-clean as well. Purge records you no longer need once a year.
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