Checklist: File Clean Out / Things to do this weekend with your money

Tame the paper tiger--or at least make a date to do so after taxes are filed.

Today: Start with old tax returns. You can throw out supporting documents after seven years. The exception: Keep records related to your tax basis in an investment for as long as you own the investment, plus seven years. Keep your copy of the actual returns indefinitely--they don’t take up much space and could come in handy if you ever need to prove your income to Social Security, for example.

4 Saturday: Bank and brokerage statements generally can be tossed after seven years (some experts even recommend tossing them after each year’s taxes are filed). Discard medical claims a year after they’ve been filed (unless they relate to a tax deduction; then follow the seven-year rule). Ditto for credit card statements: Get rid of them a year after they are paid, unless they relate to taxes.

4 Sunday: Tackle the rest of your files. Toss all but the most recent utility bills, loan statements and paycheck stubs (unless you suspect your employer is not properly crediting your retirement or insurance contributions). Deposit slips and ATM records can be thrown away as soon as they’re checked against the monthly statement.