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Financial Literacy

 



Things that you should keep:

  • Bills (unpaid and paid for the last year).
  • Bank account statements (checking, saving, money market, etc.) and cancelled checks for the last 12 months.
  • Credit card statements for the last 12 months.
  • A list of your credit cards, their numbers, and how to report them as lost or stolen.
  • Healthcare records for you and your family.
  • A household inventory of your belongings for insurance purposes.
  • Insurance policies with records of payment dates and amounts.
  • Warranties.
  • Records relating to employment.
  • A record of where your important documents are located.
  • Keys to your safe deposit box, if you have one. You should also include a list of items that have been put in or removed from the box.
  • Income tax information, both current and past.
  • Information regarding retirement investments.
  • A copy of your will and your spouse's will.
  • Property improvement records.
  • Copies of birth certificates, marriage certificates, divorce papers, child custody and support papers, death certificates, etc.
  • Educational and/or military records.
  • Legal documents such as Living Wills, Trusts, Durable Power of Attorney, etc.
  • A list of names, addresses, and phone numbers of relatives to contact in case of an emergency.

You should toss any item that isn't needed for tax purposes or doesn't fall into the "keepers" list cited above, for example:

  • Expired warranties
  • Grocery receipts
  • Cancelled insurance policies
  • Old utility bills
  • Old frequent flyer statements

 


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