Cleaning your financial house: what to shred, what to keep

Spring cleaning is just around the corner. In addition to clearing out your gutters and organizing your closet, it may be time to clean your financial house and your neighborhood credit union is here to help. TruStone Financial is hosting free shred events from 9AM – 12PM at select branches this spring; see below for date and location information.

MAY 6 | MAPLE GROVE
MAY 13 | GREEN BAY ROAD
MAY 13 | BURNSVILLE
MAY 13 | ROSEVILLE

So, what’s safe to shred and what should you hang onto? Here are some guidelines:

Shred: financial receipts.

Plenty of receipts can be tossed in the trash, like your lunch order from Panera Bread, but your ATM and bank account transaction receipts may have sensitive information. Simply store these receipts in a safe place and shred once you’ve notice them on your statement. 

Keep: mortgage-related paperwork.

Whether you purchased your home last week or 10 years ago, any documents related to your property including loan documentation should be kept until you are no longer the owner. Also keep home improvement records and receipts to show to potential homebuyers when you choose to sell.

Shred: junk mail.

While most junk mail can be tossed right in the trash, take some time to short through what comes to your mailbox. Mail such as preapproved credit card applications and free return labels may have additional personal information that should be shredded.

Keep: investment records.

As long as you own the investment, it’s important to maintain paper copies for your own record. Once you sell the fund, stock, bond or other investment, it’s recommended to shred the paperwork to ensure your financial security.

Shred: bills.

From utility bills to medical paperwork, it’s important to shred these documents since they may contain a variety of personal information. Once the transaction or payment has gone through, your bills can be shredded properly.

 

Editor’s note: segments of this article were taken from money.usnews.com.