Should i keep utility statements

The U. Census Bureau Household Pulse Survey. This financial insecurity extends to necessary household expenses like utility bills. As a result, many local governments and public utility companies have passed moratoriums on utility shutoffs, so that people can still have running water, electricity, and heat even if they fall behind on payments. While somes states have been extending their COVID moratoriums as the pandemic stretches on, utility shutoff moratoriums in Florida, Virginia, and other states have ended, leaving millions of working-class people holding the bag.

Plus, see below for a state-by-state list of public and private programs that can help you manage your utility bills. What Is a Utility Moratorium? Utility companies will often enact moratoriums in the winter or summer depending on where you live when the weather is too extreme to send out a technician.

These moratoriums are either based on fluctuating temperatures or scheduled for certain months throughout the year. Now state, county, and city governments and private utility companies have enacted utility shutoff moratoriums in response to historic unemployment numbers and COVID Many of these programs have already expired or will expire soon, according to the Wall Street Journal. Typically, 6 million households receive public energy assistance every year, but Wolfe expects that number to be much higher due to historic unemployment rates.

That presents a problem for people experiencing financial insecurity. You can check if your locality or utility company is subject to a moratorium using these resources:.

Many utility companies have enacted their own moratoriums on shutoffs in response to COVID, and many already have programs that provide assistance to low-income customers. Keep in mind, though, that not all utilities will recognize your financial situation. Qualifications and application processes will differ for each state, but generally, the program helps people pay energy bills, deal with crises that affect heating and cooling in their homes i.

Some states require more stringent documentation, such as pay stubs, proof of citizenship, permanent address, and employment statements, to back up the info provided in the application.

And some only help with heating or cooling — not both. There are three ways to find your local office:. Through the Department of Energy, the Weatherization Assistance Program WAP helps low-income families save money on their utility bills by making their homes more energy efficient. Shredders are now small, portable, and cheap. If your paper volume is enormous, shredding services can be bought. Some banks will shred your statements for free on request.

Checking Accounts. Your Privacy Rights. To change or withdraw your consent choices for Investopedia. At any time, you can update your settings through the "EU Privacy" link at the bottom of any page. These choices will be signaled globally to our partners and will not affect browsing data.

We and our partners process data to: Actively scan device characteristics for identification. I Accept Show Purposes. Your Money. Personal Finance. Your Practice. Popular Courses. Personal Finance Banking. Key Takeaways Most bank statements should be kept accessible in hard copy or electronic form for one year, after which they can be shredded.

Anything tax-related such as proof of charitable donations should be kept for at least three years. In any case, review your latest statement at least once a month to check for any errors or fraud.

Related Articles. Banking Banking Partner Links. A checking account is a highly liquid deposit account held at a financial institution that allows deposits and withdrawals. What Bank Statements Tell Us A bank statement is a record, typically sent to the account holder every month, summarizing all transactions in an account during a set time period.

A certificate of deposit CD is a bank product that earns interest on a lump-sum deposit that's untouched for a predetermined period of time. Personal Loan A personal loan allows you to borrow money and repay it over time. How a Short Sale in Real Estate Works In real estate, a short sale is when a homeowner in financial distress sells their property for less than the amount due on the mortgage.

Utility bills—unlike rent, mortgages, and others—are subject to change based upon your consumption. If you want to spend less on your utilities, you just have to use them less, more efficiently, or more intelligently. Here are three strategies for you to do just that. Your parents may or may not have ingrained into your daily life a habit of turning off the lights upon exiting a room.

Though these parental concerns seemed nitpicky and annoying to us when we were children, we may come to feel the pain of higher-than-expected light bills as we age! Why in the world, the reasoning goes, should we throw away money to light up a room which is empty and unused? As useful as this attitude is in thinking about shaving down your utility bills, many people do not apply it to other parts of their utility bills.

In addition to lights, there are other things we can turn off to save energy. Ceiling fans and air conditioners are great examples! Think about all the things you can turn off or unplug when you are gone and it will pay off! Paying for wasted energy can be just as damaging to our wallets and far more irritating. At least when we fail to turn off unused energy it is actually functioning properly.

In other cases, we may find ourselves paying for utilities which are not functioning properly and are basically just money sinks. For example, leaks result in water dripping—even flowing—out of your pipes or hoses without it providing any actual utility to you.