How Long Should You Keep Documents?

According to the US government’s web site, there are items you can discard.

Cancelled checks for cash or nondeductible expenses.
Expired warranties
Pay stubs, after reconciling with W-2
Other records no longer needed, like those that have been replaced by newer versions.
But that tax form you just filed – you should keep that for seven years from the filing date.

This government web site is a helpful resource for managing your household records.

Here is a reference table to help determine how long to keep your documents:

April Economic Update

In the news this month – Domestic Economic Health.
Gas prices were putting the clamps on the consumer, right? Wrong. It seemed consumer spending was rising, perhaps partly in response to increased fuel costs.

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