photo credit: SideLong

Clearing your house of clutter can be a cathartic process. Imagine how much more organized your home’s office will be when you’re not holding on to all of those unnecessary documents. Many documents are only needed for a specific length of time. Before you get started stripping away those extra layers of paperwork, however, you should know exactly what you can and can’t toss.

What to Keep:

Wills – These should be kept in a disclosed location. You’ll want the executor of your will to be able to find it if it becomes necessary.

Real Estate Documentation – The paperwork from purchasing a home, refinancing a home, or making major improvements on the home should all be kept for at least as long as you own the home.

Personal Documents – Keep identifying documents like social security cards, birth certificates, and passports in a safe, secure place. A fire safe is a good option for storage in the home, but a safety deposit box is even better.

Paperwork from Major Purchases – Receipts and titles for cars, appliances, and other big-ticket items should all be kept for the life of the asset. You’ll need the title for any car that you sell or trade in. And, receipts of major purchases make claims for warranties much easier.

Investment Records – Statements from stock accounts and mutual funds should be kept at least as long as you own the account. Then, be sure to check into the income tax record requirements before you shred the statements.

What to Trash:

Tax Returns More Than Seven Years Old – The IRS only requires that you keep your tax returns for seven years. Be sure to keep all of the supporting schedules and documentation that go with your returns, as well. After that time has passed, you may shred them.

ATM Receipts – Once you’ve reconciled your checking account at the end of each cycle, you no longer need to keep ATM receipts. Just verify that the bank has recorded the transaction correctly, and then you can be done with them.

Utility Bills – Although it is a good idea to maintain these records for some time, utility bills that are over a year old aren’t usually required. Once you get your file pared down to twelve month’s worth of records, you can simply throw out the oldest invoice when you file the newest one.

Budget-oriented families often think that they have to give up entertainment entirely. Expensive concerts certainly won’t fit into a frugal budget. And expensive nights on the town are out of the question. So how can you fill those weekend days and evenings if you’re on a budget? If you do a little investigating, you may find that your city offers plenty of fun weekend diversions that won’t cost you a thing.

Nature lovers already know that good weather is the only requirement to spending a fulfilling weekend exploring area parks. Whether you prefer group outings like a friendly game of football in your neighborhood park or more challenging excursions like hiking through an area nature reserve, you can find plenty to like about spending a weekend outdoors. In addition, working some playtime into your weekend will be good for your health, as well as your pocketbook.

Not every weekend comes with good weather, so take advantage of those drearier days by declaring them a “family fun day.” Spending part of your weekend engaging in family pastimes is a great way to enjoy your family. You can have a board game tournament or a movie marathon. The important thing here is to set aside some part of your weekend for getting to know and playing with your family.

If you find that you really need to fit some live music into your weekend entertainment, don’t despair. There are plenty of opportunities for free concerts. Consider signing up at your town’s department of tourism’s website for email updates. This can be a great way of hearing about community concerts near your home. Or, check out some of the more upscale shopping centers in your neck of the woods. Many feature local bands on the weekends to attract patrons.

Art enthusiasts needn’t be left out of the weekend activities, either. Instead, keep your ears open for news of community art fairs or shows. Without paying for expensive museum memberships, you can keep your finger on the pulse of up and coming artists by checking them out before they’ve made into high end art shows and galleries. If you don’t know when or where these fairs are held, check with your city’s website to see if it includes an events calendar.

Finding free weekend entertainment is easy if you plan ahead. Visit a few websites to scout out free shows and concerts. And, when all else fails, don’t forget that you can create your own entertainment by hanging out with family and friends.

Time again for the weekly roundup. First I would like to welcome the newest member of the Frugal Blog Network - Kelly from Almost Frugal. This past week she shared a great list of frugal tips in “The ABCs of Frugality: 26 Key Frugal Concepts“. Shanti hosted the Festival of Frugality with a “Frugal All Over” theme. Frugal Babe writes how credit cards can be your friend. Andy from Tight Fisted Miser shares his viewpoint on Dave Ramsey’s baby steps.

This week’s Carnival of Personal Fiinance was hosted at Taking Charge with a baseball theme. My top picks from the carnival:

Saving Advice shares a great investing hack - he bought Apple stock instead of the new Apple 3G iphone.

Money Under 30 lists 5 steps to take in saving for your first home.

Broke Grad Student writes Everything I Need to Know I Learned After College.

As I mentioned earlier, this week’s Festival of Frugality was hosted at Antishay Ventenne. Here are my favorites from this past week:

David at My Two Dollars wrote a great article on saving money by borrowing stuff versus buying it. I’d like to be able to borrow kid’s toys - they grow tired of them so quickly.

Christian Personal Finance writes 10 things worth spending more on.

Yielding Wealth shares tips in 5 ways to increase your savings.