Sure monetary paperwork you’ll be able to maintain on to, “however you’ll be able to let go of a whole lot of paperwork. And doing so will free you of all that paper and, maybe, fear,” mentioned 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 12 months’s value of data. For prescriptions you’ll be able to maintain “for no less than a 12 months in case there’s a dispute about cost.” You’ll be able to shred the month-to-month financial institution statements as banks present end-of-year info yearly. You too can toss out utility payments until you want them for tax deductions. For tax returns, maintain the previous seven years in case there’s an audit from IRS. “Lastly, in case you are not sure of what to maintain, scan it.” (washingtonpost.com)