How long do you keep paperwork

[Workingman]

Having once owned a shop I go the Aggers' way and keep everything seven years.... then I have a bonfire.

Well, I have a bonfire every year, but you know what I mean.

[debih]

I shred bills as soon as I receive the one for the following month so I can check that my payment is showing.

I shred personal bank statements as soon as I have checked them - my thought is that if I ever need them for any reason I can always get a copy online. I keep Mick's business account statements for ever! I really ought to start going through and getting rid of some now.

I keep insurance documents for the year that they are current and then shred/burn them once the new one comes into effect.

I do tend to keep gas, electric and phone bills as I put a percentage through the business.

[Diflower]

Bank statements, as far as I'm aware, are only available online for about a year I think you're legally supposed to keep them for 5 years.
I keep water bills, so we can compare them, but gas and electricity are now just done online; there is a complete record of those online though. We don't often use credit cards but when we do the bills are kept till they're paid.
Receipts though, for anything electrical for instance, anything with a guarantee, are kept in a file with any relevant instruction books. I go through it every now and then to get rid of any long gone.

[debih]

Oh yes - receipts. I tend to keep those for a while after getting caught out before. I once bought L a pair of boots (quite expensive ones) and I threw the receipt away. Three weeks later they were falling to pieces and I took them back. They demanded the receipt but I shouted louder than them and got my money back.

Anything we buy from Costco, I either cellotape the receipt to the back/underside of it if it is a large item or keep it in a folder as so many things from Costco have a lifetime guarantee if you keep the receipt and don't cancel your membership.

Anything for electrical items gets attached to the manual and kept in a kitchen cupboard/with the appliance.

Everything else goes in a little file that has alphabetical pockets. I used to be really good at writing on the back of the receipt exactly what the item was as it made it much easier to find but that has gone by the by.

I need to have a good clear out in the receipt folder actually as it probably has receipts that are 5 years old in it.