Manage your documents

Proactively manage your documents and records to protect yourself from fraud. Good record-keeping also helps you retrieve important information quickly in the case of an emergency or other crisis.

• Keep physical documents from school, financial institutions and creditors in separate file folders in a safe place. If you live with roommates, use a lockable file cabinet or other secured area.
• Organize electronic records (documents, scans, digital photos) on your computer and/or in cloud storage. Be sure to use password protection. Back up documentation regularly.

Use this guideline for what to save and how long:

Keep one year: Receipts, pay stubs

Keep seven years: Bank and credit card statements, tax documentation

Keep until no longer needed: Warranties, loan documentation, insurance policies and claims, receipts for major purchases, car title, lease agreements

Keep forever: Birth, adoption and death certificates, marriage/partnership and divorce/separation documentation, passport, Social Security card, citizenship or change of name, military discharge papers, defined-benefit plan documents, estate planning documents, and life insurance policies

Use a locked, fireproof box or a safety deposit box to keep your long-term records safe. When you do get rid of documentation, be sure to shred it thoroughly to avoid dumpster-diving scammers. If you do not have a shredder, check with your school, employer, bank or other community resources.

 

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