Should I keep my old phone bills, power bills, payslips & bank statements?

Question

Should I keep my old phone bills, power bills, payslips & bank statements?

Answer 1

Listen I know it doesn't seem feasable, but if you have the storage  space I would keep them for at least 7 years. You never know when the IRS might want to audit you and believe me (because I have been there) you want to make sure you keep them happy. I have every receipt from the day we got married until now (34 years) I'm not saying to do what I do but you couldn't even imagine how many times they have come in handy like for getting loans and such. We actually had someone try to sue us over an issue that got thrown out of court because I had receipts showing that 5 years ago that they were wrong. (I guess they thought they had someone who couldn't prove their end of the story but they were wrong).

Answer 2

Only for one year.

Answer 3

After the year or so make sure you shred them before you throw them away.  This is very important in order to protect your identity. You can always up load them into your files but, personally I wouldn't.