I hate clutter, especially when it’s unimportant clutter.  Sure, I’ve kept many things from my childhood and other items that hold sentimental value, but over the years, I’ve even tossed some of that, too.  I had to learn to tell myself that I’m really, truly, absolutely never going to need it and it will probably just sit in the same drawer for another few years, forgotten until I find it again and wonder if I should get rid of it.

The same holds true for more important things like bank statements.  I know I need to hold onto these, but I get itchy after a while—is it time to shred and get rid of them yet?  Maybe you toss yours right away, maybe you adhere to the 7-year rule we’ve all heard, maybe you just decide on your own when the time is right.  Is there a set amount of time that we should keep these records, though?

Keep the Important Records

The situation gets individualized here.  As for cancelled checks that have come with your statements, you only need to hang onto the ones that were for major items (such as your mortgage payment) or necessary for tax purposes (purchases for your business, etc.).  Some websites will say 3 years is okay, others prefer the 7-year rule.

In reality, the IRS can audit you up to 3 years from the date of your tax return, but 6 years is allowed if they suspect you of falsely reporting your income by up to 25%.  For this reason, it is probably best to keep all information related to your tax returns, any annual bank statements you might receive, and copies of important checks for 7 years, just to be on the safe side.  Whatever you do get rid of, be sure to shred it first to avoid any risk of identity theft.

Online Bank Statements

But wait—maybe you’re ahead of the throw-away game and all of your bank statements are now online.  You’ve gone green and kept up with technology.  What if you get audited?  Check with your bank for their specific regulations, but in general, banks will hang onto your statements for 7 years like you would, and you can request a paper copy at any time.  Your important checks are now online images, but that’s okay, too.  They are regarded as acceptable legal documents in the case of an audit.

If you choose to stick with the paper statements, you can keep your records (and clutter) down to the minimum by only hanging onto ones relevant to your home, business, taxes, etc.  If you go paperless, you’ll have even less to worry about.  I’ve gone paperless and de-cluttered my own home; now if I can just convince my parents to throw away those expired coupons and my old school lunch menus…

Job loss has become an unfortunate reality for many people today as we encounter the worst recession in years.  It can be tough to survive without a job.  You wonder where money will come from, how your bills will get paid, what you’ll do for food, how to keep your credit score alive and avoid disastrous activity like bankruptcy.  Here are a few areas you’ll want to cover if you’re facing job loss or have just been let go.

• First item of business: don’t panic.  Clear your thoughts and try not to focus on any anger you may have; let it out and then let it go.  It’s time to direct your attention to the months ahead.

• File immediately for unemployment benefits.  This process can take a long time, so the sooner you start, the better off you’ll be.  Of course, your pay will not be anywhere near what you were making at your job, but it’s better than zero income at all when you’re simply trying to survive.
• Start looking for a new job right away.  The job market is tight.  Even if you’re a good fit, you may not get a job you’ve applied for because there are so many others in the same position as you.  One factory near my area has 3000 applicants for one open position.  You have to fight harder than ever to get hired right now, so your search may take longer than you might anticipate.
• If you’ve already lost your job, hopefully you have a savings account of some type to fall back on.  Go ahead and use that to determine how long you can survive before things get to a desperate stage—this will affect your job search time, and may help you stay motivated.  If you’re facing job loss and you don’t have a savings, start one right now.  Even a few dollars a week put away can add up and come in handy when you need extra cash.  Money is probably tight for you, but follow the rule “pay yourself first.”  You’ll see that you do have the ability to save up.
• Try to avoid using your credit card unless absolutely necessary.  You could put yourself in a worse position if you start incurring more debt that you cannot immediately pay back.  Your new motto is “Only use the credit card for emergencies.”
• Create a budget and stick to it.  Take a look at your savings and any unemployment (or even severance) benefits you may be getting and compare it to your bills and expenses.  Cut out anything unnecessary.  For example, if you can get by without satellite tv, do so.  You’re going to be spending a lot of time job-hunting anyway; you don’t have time for tv.
• Sell any junk around your home that you don’t need or want.  This will be a temporary fix for some quick cash, but it can help, especially if you have some items that will sell for a decent price either on ebay or at a garage sale.
• Consider picking up a part-time job in the meantime.  Be aware that this option may affect what you can receive in the way of unemployment benefits, but the decision is yours, and it’s particular to your personal situation.  You may even find a part-time job that offers benefits and keeps you going until you find full-time employment.
• Brush up your networking skills.  Keep in touch with your professional contacts if you can.  You may end up hearing about a job opening that isn’t publicized or gain an important and beneficial reference.
• Stay active!  A long job search can become discouraging, especially during a period of unemployment.  Keep in touch with family and friends, exercise on a regular basis, and keep up with your hobbies.  If you’re able, pick up a new book or take a class that can help you hone some existing skills and maybe even learn new ones that can make you more marketable.  Letting yourself become idle is one of the worst things you can do right now.

Your situation is going to be different from someone else’s, but remember that you’re not the only one having to survive without a job.  The recession has hit many businesses and forced them to cut back and lay off employees, even entire departments.  Use every bit of help you can find and every resource at your disposal to ensure you can get by until you find a new job.

Most of us have had to cut back on expenses lately to save money, but that doesn’t mean that we have to stop having fun!  There are cheap ways to keep yourself entertained.  If you need some ideas to spark your creativity, here are a few helpful and cheap ideas:

• Support your local musicians!  Go check out a band.  All it takes is a quick look in the paper or an online search to find the right band to suit your tastes.  Are you open to hearing new music?  Look for original bands.  Do you prefer to sing along to songs you know?  You’ll want a cover band.  You’ll find all of them at bars, clubs, and festivals, and you can dance the night away for a small cover charge or even for free!
• Speaking of venues, attend local festivals during the summer months.  You’ll find a range of possibilities, from church festivals to county and state fairs.  Admission can be cheap or even free, and you’ll get to hear those bands you found, try out new food (perhaps on a stick—chocolate-covered bacon or deep-fried Snickers, anyone?), and maybe experience a taste of other cultures.
• If movies are your thing, consider a matinee instead of an evening show.  It’s the same movie no matter what time you go, and matinees are always cheaper.
• If you’re an active person who prefers to be outdoors, then get outdoors!  Go play in the park—you’re never too old.  Round up a few friends and get a basketball, volleyball, baseball, or Frisbee game going.  You’ll get some great exercise, and you don’t even have to pay for this one.
• Find your local hiking trails or bike paths and hit the pavement.  Go for a walk or a bike ride or rollerblading.  This one is free, too (bonus if your trail has a little café or ice cream shop along the way).
• Take a class!  Go ahead and take the time to learn a new skill or talent that you’ve always thought about learning.  Take a look into your libraries, schools, and community centers.  Many short classes such as cooking, drawing, dancing, music, etc., can be relatively cheap and only last a few weeks.
• If you’re not the outdoorsy type, there are still many options if you’d just like to stay home.  Invite a few friends (or just keep it you and your significant other) and have a game night.  Play cards or board games, even videogames.  Or keep it low-key and rent a couple movies, get some popcorn, a settle in!
• Stay home and get the grill going.  Host a cookout with family and/or friends.  Have everyone bring a side dish and hang out!

This is just the start.  Get creative and be sure to search every available local source.  Some events may be listed only in certain newspapers or on certain websites, but you’ll never find them if you don’t look!  You might be surprised at the number or cheap (or free) fun activities you’ll come across when you just dig a little deeper.