Managing personal and business documents can be daunting. Here’s a handy “How Long to Keep Documents Chart” to simplify the process.
- Tax Returns – 7 years
- Bank Statements – 1 year
- Medical Bills – 1 to 3 years
- Credit Card Statements – 45 days
- Pay Stubs – 1 year
- Home Improvement Records – Permanent
- Insurance Policies – Duration of policy + 5 years
- Utility Bills – 1 year
Use this quick reference guide to stay organized and ensure you keep critical documents for the appropriate time.