I've wrestled with this exact issue myself—finding that balance can be tricky. Here's what I've settled on after years of trial and error: I keep digital scans of important documents (loan agreements, tax forms, major receipts) organized by year and category on my computer and backed up in the cloud. For smaller receipts or less critical paperwork, I usually hold onto them physically for about a year or two, then toss them if nothing's come up.
Honestly, the key is consistency rather than volume. If you have a clear system—like scanning and labeling documents as soon as you get them—it becomes second nature and doesn't feel overwhelming. And trust me, having digital copies saves a ton of space compared to those dreaded boxes in the garage... been there, done that, never again.
I've been doing something similar, but honestly, I still keep physical copies of loan docs and major tax forms. Maybe I'm just paranoid, but digital files can get corrupted or accidentally deleted—even with cloud backups. For smaller receipts though, totally agree... scanning and tossing after a year or two is the way to go. And yeah, those boxes in the garage? Nightmare fuel. Never again.
"And yeah, those boxes in the garage? Nightmare fuel. Never again."
Haha, I feel this on a personal level. I've seen garages that look like archaeological digs—layers of paperwork dating back to the Jurassic period. But seriously, you're not paranoid at all. Digital backups are great until they're suddenly not... I've had clients lose important docs due to corrupted files or accidental deletions. Keeping physical copies of major financial documents is just smart planning. Better safe than sorry, especially when Uncle Sam comes knocking.
Haha, I get the logic behind physical copies, but honestly, after my last move, I'm team digital all the way. Lugging around boxes of ancient tax returns and mortgage docs was brutal... cloud storage and a good backup drive are my new best friends.
Totally get the appeal of digital storage, especially after a big move... but have you ever had trouble retrieving digital docs for a home equity loan or refi? Curious if lenders ever push back on digital copies versus originals.
