How long should you keep your financial records?
I mentioned yesterday that I wanted to post another neat solution for organizing your paper but I’ve since changed my mind on that particular product when I went looking for a picture. Guess what? This particular company (who shall remain nameless) doesn’t have a picture of their own product on their site. What? Sorry but I don’t want to feature a product that can’t take the time to package their product properly and yes websites count as packaging. And now you know just a little pet peeve of mine.
So anyway instead I’m going to hopefully answer a very popular question that I’ve received over the last couple weeks. Many of you have inquired as to how long to keep certain financial documents and I’ve hesitated to provide that information for a couple of reasons. First it seems that depending who you ask you might get a different answer, making me a little nervous to communicate such advice with so many variables. Plus I live in Canada so my guidelines are entirely different than those living elsewhere.
However, despite all that, I know that you can’t really get a handle on your overflowing paperwork if you don’t have the necessary information you need to pare it all down. So what I’m going to do for you instead is link you to various sources with applicable information and I’ll let you decide what works best for you. Thanks to those of you who kindly helped me out here :)
Canada Revenue Agency ~ Keeping Records
Mrs. January ~ How Long to Hold On To Financial Records in Canada
Internal Revenue Service ~ Recordkeeping for Individuals
Professional Organizer M. Martone ~ Handy Reference Guide
Okay so I know this post, although important, is a little dull so to liven things up how about sharing with me one of your own pet peeves. I figure it’s only fair since I shared one of mine with you :) I’ve got quite a list actually. Here let me give you another…generic post-it notes, they just don’t stick! See easy……now it’s your turn.