Financial Puzzle

Dispose Important Documents Safely

Toss or keep? It’s difficult to know how long to keep records and documents. Then, the decision made, it becomes figuring out the best route of disposal. Recycle or shred? With ACU’S upcoming Shred-a-Thon, I feel this may be among the best times to address security practices for financial documents.

You can’t keep everything, but prioritizing how long you should keep documents is useful to protect you from financial damage. Records may not always be top-of-mind, but they are critical when it comes to an audit or to redeem a product warranty. The length of time you should keep certain records really depends. There is no set answer but good guidelines to make a decision. You don’t need to be a hoarder and keep every file that’s ever existed, so do some spring cleaning.

Throwing away documents is actually the riskiest financial move you can make when it comes to fraud and identity theft. You don’t want to take the chance of someone digging through your trash and finding bank statements, contracts or even medical bills. The solution is obviously to shred. Once you have your financial documents in order set the correct ones aside and shred. Now you can do this yourself via a paper shredder or a community shred event (we just happen to be having one!). Either way you clear your home, protect yourself, and dispose of your documents responsibly.

People brush aside identity theft and fraud, but it does and can happen (quite often actually). Taking necessary steps to protect yourself is important. Get your documents in order and shred away this year. Any other tips about shredding and fraud prevention please share.

About Colin

ACU logoI’m Colin McCabe, the newest Communications Specialist at Arapahoe CU. A recent college graduate from Colorado State University, I carry a background in writing and communications. I joined the team here with minimal experience in the banking industry, but this has presented a unique opportunity. Working at Arapahoe CU is complete immersion into personal finance, something that’s foreign to me. Luckily, I am surrounded by financial experts working for a not-for-profit. They provide stories, experience, resources and tools. Combining communications skills with my ever growing financial knowledge, I’m here to share perspective, work and the resources surrounding me. The Financial Puzzle was created for this reason.

Of course, my path towards financial success is just one of many and the credit union is here to help all. If there is an issue or topic you are interested in, let me know! I will get the staff working on your answer and help you avoid the inaccuracies laden in the internet’s search results.

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