How long do you really need to keep papers- such as phone bill, and utility bill stuff?

Answer 1

until you get the next one that shows you have made payment on the previous one.

Answer 2

generally the rule used to be three years, but now that everything is available on the web, etc. so I don't know if that is really necessary now.
I believe that rule is for tax purposes in case you get audited, but I know other things like mortagages and requesting financial aid may want some old things like that. They can usually make due with your completed tax forms for those, though.
My husband throws it all out. When I used to do the bills, I would keep everything. I think there is a happy medium between those two somewhere!

Answer 3

My suggestion would be that you only need to keep utility bills to a maximum of six months. If you don't want to keep clutter, just wait until the next bill comes and make sure that the bill accurately reflects what you paid. For those bills that can aid you in tax season, it's best to keep them for the suggested audit period of seven years.

Answer 4

Clark Howard (a CFP and radio talk show host) says:

What records to keep:
# Tax returns, keep forever
# Tax return documentation, for six years
# Contracts, forever
# Real estate records, forever
# Last pay stub of a job if you leave that job
# Last pay stub of the year for your current job
# All mortgage payment checks (statements), until mortgage is paid off
# All student loan payments, until loan is paid off
# Car loan payment stubs, until the car is paid off
# Cancelled checks, for 7 years
# Bank deposit slips, for 7 years
# Bank statements, for 7 years
# Home improvement records, ownership period plus 7 years
# Investment records, ownership period plus 7 years

What records to toss:
# Credit card statements that are more than three years old
# Past insurance statement
# Old utility bills, except the most recent one from your old address if you've moved
# Recently paid bills (statements), once you have something saying they've been paid

Answer 5

for regular phone bills,utility hold them 6-12 month

bank or investment paper hold them 1-2 years

IRS or government paper as long as you could hold them because it is really a hassle to deal with IRS and you could be in big trouble if you do not have proof

Answer 6

I keep mine until the next bill comes out and i can see that my payment has been credited ... if there is a disputed charge i hold on to it and each one following until the dispute is settled and is reflects so on a statement... that way if i have to go into the office i have a papertrail and they cant screw me over.

Answer 7

5 years for all bills

Answer 8

once you are sure they have your payment - toss them.

Almost everyone has statements available on the web now, so you can always get a copy if you need it for some reason