Papers: Week 2 - Keep or Toss?

Tax season is over, but you still have piles of papers.  It happens.  

Last week I mentioned using Scannable.  This week, I'd like to give you an exercise to do.

Your goal each day this week is to grab one overstuffed file folder, set the timer for 5 minutes, and toss like a crazy person.  

Have bags for recycling, trash and shredding next to you so you don't have to get up. 

Most people are great at discarding papers they don't need, they just don't schedule the time to do it.  So here it is. 5 minutes. Anyone can schedule 5 minutes for anything, even you, Ms. Busy.  

As for taxes, the "keep your tax documents for 7 years" mantra is not entirely true. The IRS and H&R Block summarize it nicely. Chances are, you can discard a lot more than you think. However, I must tell you to consult your tax professional when discarding tax related documents.  They are the experts, not me. ;-)