8 Essential Items To Shred
It’s that time of year again! Spring is here. That means many of us will soon be doing our annual Spring cleaning. Spring cleaning goes beyond your garage, windows, and carpets. According to CBS, 51% of Americans pay special attention to their desk or home office. Knowing what to shred can help protect your personal and financial information. This Tuesday Tips email will provide you with knowledge on what to shred and what to hold onto.
What To Shred:
Old Bank Statements
In general, you only need to keep your bank statement for one year. If you plan to throw away any documents that have your bank account number or credit card information, shred them before you dispose of them.
One way to eliminate messy paperwork, and protect your identity is to sing up for eStatements. eStatements are stored easily and securely online for 24 months, and you can view them several days earlier than statements sent in the mail. What better way to convenience yourself, while also keeping your information safe and helping out the environment.
Pre-Approved Credit Card Offers
You may not think its necessary to shred pre-approved credit card offers, however this is vital to protecting your identity. Before throwing these type of documents in the trash, always make sure that they are shredded to prevent criminals from obtaining a credit card in your name. Simply ripping them up will not do the trick.
Old Pay Stubs
It’s always a good idea to keep your pay stubs for one year to match them to your W2. However, when you are ready to throw them away, make sure to shred them!
Credit Card Bills
Unless you need your credit card bills for proof of purchase, shred them. As a rule of thumb, you can generally shred credit card statements after 45 days. Hang onto any statements you may need for tax purposes.
Old Tax Returns
In most cases your taxes can only be audited in the three-year period after they have been filed. However, in some instances you are able to be audited up to six years after your taxes have been filed. If you have older tax returns, (over six years), that you no longer need, make sure to shred all the pages and corresponding financial papers.
Even if you cancel or void a check it still contains your account number, which can lead to fraud and identity theft. Shred the hard copy instead of throwing it in the trash.
Shred your utility bills unless they have tax-deductible expenses. Your utility bills contain your personal information, which can be used to steal your identity and set up additional accounts in your name.
Old Car Registrations
Information on the paperwork of an old car registration can help a fraudster steal your identity. Verify all outdated government paperwork, as well as any IDs are shredded instead of thrown in the trash.
In general shredding any unwanted documents with your personal details on it, or that include financial, medical, or legal specifics should be shredded. If you don’t have a shredder at home, don’t worry. Launch FCU offers FREE Shred Days by Progressive Document Destruction at various branch locations. Take a look at our website to check for a Shred Day at a branch near you.
What To Keep:
- Appliance manuals
- Vehicle titles
- Loan documents
- House/mortgage documents
- Insurance policy declaration pages
- Birth/death certificates
- Social security card
- Pension plan documents
- Any copies of wills, trust, powers of attorney
- Military discharge paperwork
- Marriage licenses
- Divorce decrees
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