Declutter — and keep your identity secure — by throwing away those old documents taking up space. But be careful because some financial documents have a longer shelf life than others.

Documents that are safe to shred right away:

• Paid utility and billing statements
• ATM receipts
• Sales receipts

If you normally hold onto your documents, scan them electronically to a computer then discard the paper copy safely. Electronic statements (credit card, checking account, etc.) will eliminate keeping track of physical copies and the hassle of uploading them to your archives.

Documents safe to shred after one year, according to the Federal Trade Commission:

• Pay Stubs
• Credit Card statements
• Medical bills (unless in dispute)

The following documents should be kept forever and stored in a secure place:

• Birth certificate
• Social Security card
• Legal will

Note: The FTC recommends keeping tax-related records for 7 years. The IRS normally has 3 years to complete an audit, but in some cases, seven is possible.

While decluttering can be stressful, please keep your financial documents in a safe and secure place until you can discard them safely. Shredding is one of the safest ways to throw away documents, and you can do just that with us on Saturday, September 27 at our Florence branch.

Contact Cinfed with any questions.