Do You Still Keep & File Bills & Bank Statements Now We Have Online Billing?

@ellie333 (21016)
August 6, 2008 2:09pm CST
I recently stopped receiving a paper version of my phone bill to be more environmentally friendly and can also make this same choice for my bank statements, however I am old school and usually tend to keep all these in a file for six years before shredding and throwing. Do you think this is necessary anymore? Should I become totally clutter free and shred all this paperwork or do you feel that there is a need for a hard copy? Ellie :D
4 people like this
37 responses
@philjas (1134)
• United States
6 Aug 08
I'm in the middle of debating this myself. I feel guilty if I toss the paper copy of something I paid online, but I tell myself I don't really need to keep it... but it's kind of hard to let go of the old system. I'm curious to see what other people think about this.
3 people like this
@ellie333 (21016)
6 Aug 08
I am interested myself as I have always filed and kept everything but now companies are encouraging us not too, but if there is a query what proof do we have without our paper proof. Ellie :D
1 person likes this
@mimpi1911 (25464)
• India
8 Aug 08
ellie I feel in today's world of internet we donot need to keep the hardcopies any more. But my father is old school and just would not let go that easily. I can understand his point of view but with so much thing happening with go green thing I am a convert now. I have strated to keep all old paper docs scanned and save them in my computer. The present documents I have opted for the soft copies in banks and elsewhere as well. Here, it would take to get used to it. Specialy when most are not gadget friendly but still I am hopeful. Things are indded catching up fast. Huggles.
2 people like this
@ellie333 (21016)
8 Aug 08
Hi Mimipi, I haven't got a scanner but your system sounds like a brilliant idea as you can then copy to disc and no paperwork as such. I have begun to go paper free but still have to have my main bank account statement to check and is needed for some things anyway and banks charge here for you to get a copy. Thanks for sharing. Huggles. Ellie :D
1 person likes this
@checapricorn (16061)
• United States
7 Aug 08
Hi ellie, [i]My husband is still keeping some but for like 6 years above, he is disposing it! I guess it will be safer to just wait and keep it this time..Anyway, it will just hide in the locker..LOL! I will consider throwing if they are not old already, 5 years above![/i]
2 people like this
@ellie333 (21016)
8 Aug 08
Hi Checapricorn, Yes I guess I am a bit like your husband and do tend to keep it all but am gradually getting better and letting go and getting online bills instead. Ellie :D
1 person likes this
• United States
7 Aug 08
I don't mind having a hard copy for reference. That way I can see what I'm being charged. But, most of my bills are paid online these days, including cable broadband bills; car insurance; life insurance and cell phones. Most of my bills are set up to be automatically paid from my debit card. The last time I got a bill in the mail from the water supply people, I didn't know what to do with it. I thought, didn't they already take care of this online?
2 people like this
@ellie333 (21016)
7 Aug 08
Hi Beautyqueen, I am so used to hard copy that I guess is is letting go of the old system but am gradually making the transistion. Ellie :D
1 person likes this
@reckon21 (3479)
• Philippines
7 Aug 08
No, i relay on the internet so much. No more paper but sometimes I still ask for hard copy. It's old habit I guess.
@ellie333 (21016)
7 Aug 08
Hi Reckon that is great that you are paper free bar the odd hard copy. I still can't seem to let go of the old rule of keeping everything for 6 years but am getting better and with more bills online only will gradually get there eh! Ellie :D
1 person likes this
• United States
7 Aug 08
i would only hold on to them for six years for tax puroposes.
@ellie333 (21016)
7 Aug 08
Hi Yes that is why I do tend to still keep but as I am now employed rather than self employed any recent ones really are not needed I guess. Ellie :D
1 person likes this
@suspenseful (40193)
• Canada
6 Aug 08
I have to keep my income tax information for seven years, but usually shred my bank statements after I record them on my computer. I do online banking but often they do not keep them up there for more than a few months so I have to record that information in case something goes wrong. Usually it is a check that I wrote but that had not been cashed yet for months. I would say keep the income tax records, when you bought the house, how long you have worked, and shred the rest.
1 person likes this
@suspenseful (40193)
• Canada
7 Aug 08
I do not have that much room to keep stuff. And I am always afraid that if I do not shred it that someone will find it. Here in Canada, we do not need to keep all the records or receipts like you do in the States just for income tax purposes. And since we do not have the big houses in comparison to what Americans have, we do not have a lot of drawers to put everything. And besides the electric and gas company have records and I pay off my credit cards each month so I do not need to keep them for long.
1 person likes this
@ellie333 (21016)
6 Aug 08
Hi Suspenseful, I tend to keep it all beause I think if I shred anything that will probably be the one thing that will be needed as a query will arise but I have such a huge amount now I really ought to shred a fair bit. Ellie :D
2 people like this
@ellie333 (21016)
7 Aug 08
Hi Suspenseful, yes here in the UK too we have to keep for 6 years so I guess old habits die hard, I have gone paperfree on my phone bill and a few other bits though,so getting there LOL. Ellie :D
1 person likes this
@kaleegirl45 (1515)
• United States
6 Aug 08
Hi ellie, This is what I do, I shred, my phone statement and any other bill that I pay monthly. I do keep bank statement, one never know who will be asking to see a copy. if you're buying a house, car etc. Just keep you bank statement, any checks that have cleared. after 7 years shred. I know that if you don't need to have the original cancel check, the bank always has a photo copy. But they do charge if you need to have, prove of payment. Everything is on the computers now a days. it's easy to get. hope this helps
@ellie333 (21016)
6 Aug 08
Hi Kaleegirl, I think this is a good idea, file the bank statements as usual and just keep the latest bill once paid until the next one arrives to check and then shred. There is just so much paperwork, it is finding room for it all. Ellie :D
1 person likes this
@cupid74 (11388)
• Pakistan
7 Aug 08
Hi dear i just keep the latest bill and waste all old one and sure paper less society is emerging and we should help it Takke care
1 person likes this
@cupid74 (11388)
• Pakistan
7 Aug 08
Hi Ellie really fast well bank sa=tatement of one - 2 month is ebough and keep last bill hard copy. its hard to get rid of old habits as u r so used to it that if u dont do, u feel that task is Yet Undone and feel uncomfortable every change needs time and mind set Take care
1 person likes this
@ellie333 (21016)
7 Aug 08
Hi Cupid, I think I need to start doing that but will still keep a certain amount of bank statements. I do have online billing now for a lot of things but sometimes we do need a hard copy eh! Ellie :D
@olivemai (4738)
• United States
8 Aug 08
I do keep some, the ones that I still get!
1 person likes this
@olivemai (4738)
• United States
9 Aug 08
I understand!
1 person likes this
@ellie333 (21016)
8 Aug 08
Hi Olivemai, I keep my main bank statement but most of the rest are online now. Ellie :D
1 person likes this
@mayka123 (16555)
• India
7 Aug 08
What ever statements that I receive printed I do keep. For the ones that come online I usually dont take a printout unless absolutely necessary. And the oldest paper I have in my file is my school report of 1970.
1 person likes this
@mayka123 (16555)
• India
8 Aug 08
Oh yes I too have my birth certificate of 1964. Just forgot about it.
@ellie333 (21016)
7 Aug 08
Hi Mayka, I also keep printed bank statements but I do have online bills that I don't printout once I have checked them and they are okay thats fine and I pay a lot online also. The oldest piece of paper I have is my birth certicate from 1963 LOL. Ellie :D
@di1159 (1580)
• United States
7 Aug 08
I was like you Ellie, keeping a storage cabinet with old receipts, bank statements, etc. Sometimes, when I decided to go through the tedious task of sorting it all out, there were papers there I didn't even know existed. I guess if had needed them, I wouldn't have found them anyway! I am so happy since I am going paperless! I don't worry about it anymore and it keeps my cabinet a lot neater. Maybe you should go paperless and then just print out a statement for a while until you can make a complete transition. I'm sure if you are already doing it for the phone bill, you will have an easy transition.
@ellie333 (21016)
7 Aug 08
Hi Di1159, I think I would probably still want hard copy bank statements though but I may start going paperless for everything else and gradually let go of the old system, I must admit I do have a hard time finding everything I need even thoug most is filed in an organized way. I will try to make the transition at some stage soon. Ellie :D
1 person likes this
@msedge (4011)
• United States
13 Aug 08
Online billing is easier but i don't trust doing activities online so much.Though i do sometimes.I love keeping things so i usually keep old documents etc but nowadays its just occupy space in the house.My hubby had alot of these stuffs from many many years back.We tried to clean up and he did threw some that was really very old and thought it could be not in use anymore.Perhaps you could do that too.Or if you love to keep them its up to you.Sometimes its nice to see old stuffs and remember those times.
@ellie333 (21016)
13 Aug 08
I am getting better at throwing away stuff and not keeping for years but the bank statements I must admit I do and certain documents do need to be kept but the new bills can go which is why I have changed to online now. Ellie :D
@msedge (4011)
• United States
18 Aug 08
You can keep those stuffs that you think would be imprtant to you and you feel like you love keeping them.Thats what i do also.
@mands61123 (2098)
9 Aug 08
I try to recieve online bills for as many things that i can because of the impact on the environment and also because if i don't i hoard them for no apparent reason and i have no room. If you don't find a mistake or something that needs to be rectified straight away the chances of getting it sorted are pretty much zip anyway so i don't feel the need. The bills that i can't have online i clear out every year (usually when i get time off) and shred and recycle that was although it's paper i'm doing what i can. Most organisatons have to store hardcopies of things for several years anyway so if i needed something i could request it i'm 27 now and i've had to do so once. I'd rather save the trees.
10 Aug 08
ohh thats cool i'll have a look at that, if the bank charges you for a copy as long as your recycling and giving back like that your definately doing your fair share. Just have what you can as internet banking i'm sure your doing the best you can think of other people who don't even care. As long as you always make a conscious effort i think thats the best you can do
1 person likes this
@winterose (39887)
• Canada
12 Aug 08
nah I usually throw them out, but they say it is always good to save them, you never know when you might need them.
1 person likes this
@ellie333 (21016)
13 Aug 08
Hi Winterose, I am getting there with going paperfree but find it hard to bin those statements LOL. Ellie :D
@MsTickle (25180)
• Australia
17 Aug 08
I'm all for going green and receiving less paper but my phone bill now doesn't let me check the details of my bill. I tried to organise to read my bill online but was told I had to register to do that and was given a number...when I rang that number I was told I'd been given the wrong info and had to register online. I tried to tell him that I tried to do that and was unable to find where to register. I still want to see my itemised bill so I can check my records with their's. My electricity and water bills have varied from what my meters say and I've called them on it and been reimbursed. I know they get things wrong. If I get a plain statement with a total, I'm in the dark so to speak. I don't have enough money to just hand it over with no questions asked...lol. All my papers are neatly filed in an organised fashion...there is no clutter. I'd stick with what you do now. You still have some control.
1 person likes this
@ellie333 (21016)
17 Aug 08
Hi MsTickle, I have in fact today shredded a fair amount of old statements going back to 2003, I just kept the yearly summaries and any letters for the file so that has cleared some away, I will carry on with online billing with phone as I can check that immediately anyway and then query but the statements I will still get hard copies for just throw old years away and file current. Ellie :D
@maximax8 (31055)
• United Kingdom
13 Aug 08
I belong to E Bay and Pay Pal and regularly get fake emails that are supposed to be from them. I do belong to any Internet banks but again I get fake emails as if I do. I don't want to do Internet banking because I worry about security on my laptop and fake emails being sent to me. I have a filing cabinet where I keep paperwork from the last six years or so. I don't like paperwork anymore and wish that I could have bills and bank statements on line.
1 person likes this
@ellie333 (21016)
13 Aug 08
Hi Maxine, I also get all the spam emails from Ebay, Paypal and the banks but I just press the report spam button as if my bank needs to contact it has other genuine ways of doing so. I am changing over gradually but do like my main bank account statements still sent through and would never have an online only account I need to know I can walk into a branch somewhere and speak to someone face to face. Ellie :D
@PearlGrace (3171)
• United States
6 Aug 08
Hello ellie333. I live in the U.S. and I suspect our tax laws might be different from yours in the U.K. In the U.S., we are told by our "tax people" that we need to keep hard copies of all receipts for 10 years. So, I keep mine for that long. It's interesting because I've always kept all receipts for bills paid, taxes paid, insurance paid, etc. However, my sister, who works in a credit union (that's sort of like a bank here in the U.S.) said there is no reason to keep any receipts other than those that might be disputed on our income tax returns, which we have to file yearly. So, things like utility bills, water bills, insurance statements have nothing to do with most people's income tax return. If all I kept was what pertained to our tax returns, I could get rid of practically an entire closet shelf full of receipts. I just couldn't destroy all those papers. But, I do have a system that, after the tax return is filed (usually in March) and I get back our copy, I place all our receipts for that year (already in their expandable file folder) up in the closet and label the folder with the year of those receipts. I then remove the oldest folder from 10 years prior and destroy those documents in our shredder. I run them through a few at a time so as if I come across something I think I should save (like stock confirmations or something like that), I hold them out and file them elsewhere. Whew, I sure took a lot of words to say, "yes, I just can't turn loose of all hard copies, at least the last 10 years' worth of records." Take care, and sorry I got so wordy! P.S. I would love to get rid of all those receipts on that closet shelf...
• United States
6 Aug 08
Yes, it sure is a pain to keep all that paperwork. But in your case, it sounds like it was good that you had it. I guess we need to determine what are the papers we really need to keep and then get rid of the rest.
1 person likes this
@skinnychick (6905)
• United States
8 Aug 08
I never keep my bank statements. I always shred them. But I don't fully trust online banking either. I don't really have all that much money to be concerned about it anyway. LOL
1 person likes this
@ellie333 (21016)
9 Aug 08
Hi Skinnychick, I do online banking but only with a bank where I know I can go into the branch and see someone if there is a problem, I don't trust the online only accounts as such either. I keep my bank statements but shred everything else and have online billing for quite a bit now. Ellie :D
@Opal26 (17679)
• United States
7 Aug 08
Hey ellie, I still keep some of my paper stuff. I'm slowly getting rid of most of it. I guess being so used to keeping files of it for so many years it just is hard to break the habit. I only keep certain bills. It really isn't necessary anymore to keep them. If you truly needed a copy of something all you have to do is request it from the company and they can send you one. How often would that happen. I guess it's up to the individual. If it makes you feel better to keep it then there's no harm to continue.
@ellie333 (21016)
7 Aug 08
Hi Opal, the only ones that I really keep these days are the bank statements as they charge for copies but everything else I am slowly getting rid of too. So much paperwork that is unecessary eh! Ellie :D