How long should I keep bank statements, credit card statements, financial reports?

I have the same issue. I save them for some reason. I don’t know why. I never refer to them and actually don’t even open them. I always use online banking. I guess the reasonable thing to do is keep the current month only, once you get a new statement, if everything looks good, shred the previous one.

From “Get a Financial Life” by Beth Kobliner

Throw out now:
Old phone bills (unless you plan to deduct for tax purposes)
Supermarket receipts
Old utility bills

Throw out after one year:
Canceled checks (except those needed for taxes or insurance purposes)
Store receipts and credit card statements (except those needed for tax, insurance, proof of purchase or warranty)

Throw out after three years:
Bank statements (which you may need to produce if audited)

Keep most everything else that’s important forever.

Statements I would keep for at least a year, but things like receipts you only need to keep until that information clears with your bank. If you use cash, then there’s really no need to keep them at all.