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Old 04-19-2012, 01:43 AM   #1
Dastan
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Default How Long Do You Keep Bank Statements?

Now bank statements have come in handy yet I wish they were all digital.
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Old 04-19-2012, 05:17 AM   #2
Shamrock
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I pack them up with my tax data on a yearly basis and throw the entire package out after seven years.
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Old 04-19-2012, 06:08 AM   #3
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Sly, if your bank doesn't offer digital bank statements currently (many do), you can scan them yourself and keep 'em that way.

I keep most business statements fer 10 yrs and personal for 7. This is a general rule fer me.
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Old 04-19-2012, 07:13 AM   #4
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Seven years. We have a notebook for each account - three-inch binder. Easy to store.
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Old 04-19-2012, 08:05 AM   #5
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Am I supposed to save them?
I don't get paper statements anymore.
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Old 04-19-2012, 08:52 AM   #6
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You are supposed to get rid of them at some point?

Over the years, I've kept quite a few things...too many things, as it relates to paper. I'm in the process of getting rid of things that are beyond 10 years old. Hey, it's a good start. At least I'm making progress.

Last edited by SueMI; 04-19-2012 at 10:55 AM. Reason: wrong spelling
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Old 04-19-2012, 10:18 AM   #7
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Seven is supposed to be the legal time I believe. I suspect that we may have them all the way back to when we first married, 40+ ears ago. Only the ones since we have lived in NC (14 years) are in our file cabinet. We need to start culling.
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Old 04-19-2012, 10:25 AM   #8
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We keep everything. Forever and ever.
I still have my college loan papers.

Do you all shred all of it?
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Old 04-19-2012, 10:42 AM   #9
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I don't save them at all.
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Old 04-19-2012, 10:49 AM   #10
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I don't save them after my taxes are filed for the year.

I figure if the IRS needs them, they can get them from the bank.
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Old 04-19-2012, 10:50 AM   #11
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There is no need to keep bank statements unless you are applying for a mortgage or LARGE car loan.

Since ours are all digital, I don't have any on-hand.
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Old 04-19-2012, 11:02 AM   #12
SueMI
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Quote:
Originally Posted by LeftyLou View Post
We keep everything. Forever and ever.
I still have my college loan papers.

Do you all shred all of it?
That's how I was, but I'm slowly purging items.

I am shredding anything with a SS#, name or account number.

A few weeks ago I found my first pay stubs from when I started working in 1974. I shredded them. Going through stuff, I came across a pension plan of hubby's we had forgotten about. He worked a few years at a local college and had actually put money into the plan. It's in my pile of things to look at when things are settled down. It won't amount to much income, but hey....any little bit will help in the future. I would have never thought about this pension plan had I not decided to go through everything.

I am keeping my check registers. They don't take much space, and it was interesting to look through the years.
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Old 04-19-2012, 11:33 AM   #13
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Quote:
Originally Posted by LeftyLou View Post
We keep everything. Forever and ever.
I still have my college loan papers.

Do you all shred all of it?
Quote:
Originally Posted by SueMI View Post
That's how I was, but I'm slowly purging items.

I am shredding anything with a SS#, name or account number.

A few weeks ago I found my first pay stubs from when I started working in 1974. I shredded them. Going through stuff, I came across a pension plan of hubby's we had forgotten about. He worked a few years at a local college and had actually put money into the plan. It's in my pile of things to look at when things are settled down. It won't amount to much income, but hey....any little bit will help in the future. I would have never thought about this pension plan had I not decided to go through everything.

I am keeping my check registers. They don't take much space, and it was interesting to look through the years.

:large sad face: I would recommend hiring the commercial shredding truck because, otherwise, you will be burning the motor in multiple shredders. OR, have a really big bonfire.
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Old 04-19-2012, 11:41 AM   #14
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I can't imagine keeping up with all that paper!!!!!!!

I know our bank offers a free 'shredding' day a couple times a year. They have a commercial shredding truck ,and you can bring whatever you want.

Last edited by StarryBugg; 04-19-2012 at 11:45 AM.
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Old 04-19-2012, 11:41 AM   #15
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I've done, or am doing all 3 solutions. Had some done by a commercial shredding truck. Have some that I'll burn in a bonfire. The pile I have in the house is less than 6 inches tall. I just shred a little each week. I'm guessing I'll be done with this pile within the next week.
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Old 04-19-2012, 04:05 PM   #16
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We have a huge pile waiting to be shredded. I always think that some time when I'm sick in bed, I'll just sit and shred... but when I'm sick in bed, that's the last thing I feel like doing...
There's occasionally a free shredding 'event' in a few places around here, but I can never seem to get to them.
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Old 04-22-2012, 09:11 PM   #17
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Quote:
Originally Posted by NYCgal View Post
Sly, if your bank doesn't offer digital bank statements currently (many do), you can scan them yourself and keep 'em that way.

I keep most business statements fer 10 yrs and personal for 7. This is a general rule fer me.
I have done that with a few items over the years, my bank statements go back about twelve years and that would take hours for days to get that done which is not even worth it. The good thing is that ALL my paper work takes up the space of one small file box.
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Old 04-22-2012, 09:43 PM   #18
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I havent kept them in years.
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Old 04-23-2012, 07:32 AM   #19
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I used to keep them for a long time. Recently, I have been keep financial statements from my stock broker, and statements from banks showing my IRA or my money market accts for the current month only. I do have a backlog of bank statements for the account I pay bills from. Surely if we need this info later for the IRS, we can get it from the banks.
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Old 04-23-2012, 07:56 AM   #20
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1980s.
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Old 04-23-2012, 03:41 PM   #21
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I have none - I guess I am crazy.
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Old 04-23-2012, 03:43 PM   #22
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Two years at the most. I don't have any business accounts, so can't think of any reason why I actually even need to keep them that long....
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