Conquer Your Paper Files And Manage Your Household Records!

Piled up office work papersManaging your household records can be tricky. Knowing what you need to keep and what you can throw away can help make it much easier! Do not drown in a sea of papers when trying to find the documents you need. Here is a list of papers you should keep in case of an emergency!

What To Keep and How Long To Keep It:

  • Bank statements-1 year unless they are needed to support tax filings.
  • Marriage licenses/divorce decrees—you will always need these because they may be necessary for many applications.
  • Contracts—keep any old contract documents until they are updated.
  • Credit card records—save credit card information until the balance is paid unless you need them for tax purposes.
  • Home purchase/home improvement records—you should have records as long as you own the property.
  • Household inventory—always have an inventory and update it as needed.
  • Insurance documents—save until you renew or update the policy.
  • Investment statements—shred your monthly statements but keep annual statements until you sell the investments.
  • Loan documents—until your loan is up or until you sell the item the loan was for.
  • Real estate deeds—keep real estate documents as long as you own the property.
  • Receipts for large purchases—save until you sell or discard the item.
  • Service contracts and warranties—you will need them as long as you are in possession of the item.
  • Social Security card/Birth certificates/Passports—always keep these documents because they serve as forms of identification.
  • Tax records—keep any tax related documents for 7 years from the filing date.
  • Vehicle information—you will need vehicle titles or maintenance records for as long as you own the vehicle.
  • Wills/Life Insurance—save these forever and update them as needed.

Contact Global Financial & Insurance Services in Irving for all of your Texas insurance needs. Know what documents you should keep and which you can toss in the garbage to get the most out of your insurance. Let us keep you protected and get a policy, today!