Do you have bank accounts open that you forgot about? Bank statements everywhere? 2020 is almost here and the New Year is the perfect time to get a grasp on your financial clutter. Westport Federal Credit Union has tips to help get you started.
It always helps to try and get as much electronically saved. Whether you do that or get the hard copies, here’s a list of what you should be saving and for how long.
1 year
- Paycheck stubs
- Utility bills
- Canceled checks
- Bank account statements
- Quarterly investment statements
3 years
- Medical bills
- Sales records (home, stock)
- Annual investment statements
7 years
- Income tax returns and corresponding documents
- Satisfied loans
- Student loan records
DECLUTTERING
Make a list of your financial accounts (all assets and debts) – Go through everything and make a list of all your accounts, assets, and debts. This way you will see it visually and you’ll be able to figure out what needs to be decluttered.
Put old credit cards aside – At Westport Federal Credit Union, we offer a low, fixed Visa Credit Card for only 11.99% to help you consolidate and save money.
Shred old account statements – You should first try and aim for e-statements. Not only will you be decluttering your finances, but you will also be helping the environment and have 24/7 access to them online. Sign up for e-statements right through your online account and have access up to 7 years.
If you prefer not to receive e-statements, you can shred your old account statements after every year.
If you need help catching up on bills, fill out a loan application 24/7 or stop in to apply for our Whatevah loan and be on the road to paying off your debt! Secure your financial future with us.
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