Receipts

[braggin]

I keep all receipts for 5 years. That's because the IRS doesn't usually audit people more than 5 years out, so I figure if I ever have to prove I paid for something during an IRS audit, I might need a receipt from 5 years out.

[nickylanena]

I keep all receipts for 5 years. That's because the IRS doesn't usually audit people more than 5 years out, so I figure if I ever have to prove I paid for something during an IRS audit, I might need a receipt from 5 years out.

That's reassuring because that is also something I've read about (keeping receipts for 3-7 years)! I figured it's safe to keep them for a few years just in case. I was also going to track my expenses. 

[mardukblood2009]

I usually keep them until I know what ever it is I can not take back anymore. It sometimes depends on the item too.

[suemgross]

I only keep receipt long term if it is for a major or bigger purchase (new stove, car, etc).  Receipts from my weekly household shopping are immediately thrown away unless there's something I purchased on it that I may consider returning in the near future.  After a few month, I will then throw those receipts away.  You really need to declutter and get rid of all of those unnecessary receipts that are taking up room in your house!

[nickylanena]

I only keep receipt long term if it is for a major or bigger purchase (new stove, car, etc).  Receipts from my weekly household shopping are immediately thrown away unless there's something I purchased on it that I may consider returning in the near future.  After a few month, I will then throw those receipts away.  You really need to declutter and get rid of all of those unnecessary receipts that are taking up room in your house!

Surprisingly, they all fit in a container slightly larger than a shoe box! But, I agree that there's no use in holding onto weekly shopping receipts. It's time to declutter!

[PGS28]

I run my receipts through a couple cashback apps I have and then purse them until whenever.

[PGS28]

That's a good point; some receipts (such as the ones to expensive purchases) should be kept longer or at least until the warranty is up.

It depends on what the item is. If it's expensive and I might not like it; of course I'll keep the receipt.

It's not a bad plan to just keep all receipts for a while. You never know when you might need them and it's not that hard to just throw them in a basket for a couple of weeks or a month.

Did you say you've been keeping receipts from May 2016 to now? To me, that's serious overkill.

[nickylanena]

I run my receipts through a couple cashback apps I have and then purse them until whenever.

I've seen others mention that as well! So far, my favorite receipt app has been Checkout 51. A friend recommended a few others but ReceiptPal, in particular, was hard to complete my verification so I deleted it. Maybe I'll give them a try once again.

[ghunter]

Yes, on big items, like a TV maybe some clothes or shoes.

[jkhanson]

No, I generally get rid of; unless it is a very pricey item then I may hold on it for awhile for example like an appliance I tend to attach the receipt to the literature and/or warranty that came with it.

I do this too with appliances or tools that are spendy.  It's nice to have the receipt together with the warranty info.

[Kimdud22]

I generally keep receipts that are recent just in case I need to return something.

[sipingyu]

Increasingly, I don't save my receipts as everything is online now.

[timvolley]

i save my receipts for different points for a couple of apps then i threw them out. i save the big ticket items in case something go wrong and i need to return the item.

[sdenimandlace1]

I keep receipts for several years.  I have some that go back 40 years, of things I think will surprise the kids at what they cost.

[nickylanena]

Increasingly, I don't save my receipts as everything is online now.

True! One of my local grocery stores saves a digital receipt to your account once you scan your rewards card at checkout. Staples (and a few other stores) even allows you to choose whether or not you want your receipt printed or emailed to you. I think that is convenient because you can access it if/when you want.