Sure monetary paperwork you’ll be able to maintain on to, “however you’ll be able to let go of numerous paperwork. And doing so will free you of all that paper and, maybe, fear,” stated Michelle Singletary at The Washington Publish. When you get your W-2 you’ll be able to throw away the paycheck stubs, besides the ultimate stub that has a yr’s price of knowledge. For prescriptions you’ll be able to preserve “for not less than a yr in case there’s a dispute about cost.” You possibly can shred the month-to-month financial institution statements as banks present end-of-year data yearly. You can too toss out utility payments until you want them for tax deductions. For tax returns, preserve the previous seven years in case there’s an audit from IRS. “Lastly, in case you are uncertain of what to maintain, scan it.” (washingtonpost.com)