Can you throw bank statements and stuff in the trash?

So you got some official-looking paper in the mail and it has some stuff on it you might not want other people to see, like your account number or your Social Security number. Can you just throw those away?

Sidenote: Mail is fully binary now. Whatever arrives is either really important stuff or total garbage, with nothing in between. It wasn’t always this way. There used to be more middle mail. Anyway…

Tear it, don’t share it

Who cares about paper? In 2020, creepsters are more likely to be hanging out on the Internet than by the curb on garbage day. But there’s no reason to make it easy for them by say, handing your credit card statement to randos on the street. 

So yes, you can throw these away, but don’t make them easy to find. Ripping them up first is a good start. Same with credit card offers with your name preprinted on them.

Even if someone does come across your documents, your bank most likely has security checks that would prevent them from wiring all your money to the Cayman Islands.

What to keep

You’re unlikely to need copies of privacy policies or bank statements that are available online. But don’t get rid of everything. You should hang onto tax returns for a few years, and even medical bills can be useful for a year in case there’s a mistake or a delay. Just make sure you can remember where you stash them.

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I cut my official paper into tiny pieces and then put it in the kitchen trash. I figure no one is going to fish through coffee grounds and beet juice and then do a little jigsaw puzzle just to see how much money I’m saving. Also it’s like confetti so that’s fun.