Sure monetary paperwork you’ll be able to maintain on to, “however you’ll be able to let go of loads of paperwork. And doing so will free you of all that paper and, maybe, fear,” mentioned Michelle Singletary at The Washington Submit. 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 price of data. For prescriptions you’ll be able to hold “for a minimum of a 12 months in case there’s a dispute about fee.” You possibly can shred the month-to-month financial institution statements as banks present end-of-year data yearly. You too can toss out utility payments until you want them for tax deductions. For tax returns, hold 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)