Home Purchase Paperwork:
Keep: mortgage application, title work, deed, appraisal, inspection, survey, contract and a couple years of monthly mortgage statements.
Toss: Monthly mortgage statements that are over 2 years old
How: Cloud storage is great - Dropbox, Google Docs or scanning and saving in a folder in your email!
Homeowners Insurance:
Keep: copy of past and current policy along with receipts and documentation for any claims
Toss: no recommendation here because they can reopen settled claims and may want proof of prior coverage.
How: Cloud storage again is a good option for easy access and keeping it safe from a fire
Utility Bills:
Keep: one year of statements to track usage
Toss: anything older than one year (unless you have an office in your home and can deduct some usage on your taxes - than ask your financial advisor)
How: sign up for e-billing from all utility providers - gives you access to everything online and saves drawer space!!!
Manuals and Warranties:
Keep: manuals for any appliances you still own and warranties that are still in effect
Toss: expired warranties, manuals you can access online (most are available online now) and of course any appliances you no longer own
How: Write the make, model and serial number on the cover of every manual or keep this info in a list on your computer
Remodeling Records:
Keep: bids, invoices, receipts, sketches, floorplans, materials, products, paint colors
Toss: early versions, brochures for products
How: Keeping these records in the cloud could be helpful when it comes to selling and documenting costs and reducing your capital-gains tax.
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