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Saving A Buck: Financial spring cleaning

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It's spring, which means many people are getting the urge to clean up around the house.

For some, it's those financial documents that cause a clutter nightmare.

Financial experts said there are financial documents you should keep but there are plenty you can get rid of after reviewing them.

Financial Advisor Tracy Ann Miller with Red River Advisors said this is a great time of year to clear the clutter.

Miller said, "People have a really hard time letting go of documents because they aren't sure."

She said there are a few ways to spring clean financially.

First, re-evaluate what paper you really need.

Miller said, "Know when to hold 'em and know when to shred 'em."

She said there are documents you should keep on file.

Miller said, "Tax documents, seven years to be safe."

Another spring cleaning task, check and update any beneficiary forms.

Also, take a look at what you owe and get a plan to pay it off.

Miller said, "Debt really clutters up your finances."

She said if you transfer documents to digital files make sure you keep them in a secured location.

Another tip, shred anything you don't need if it has your full name, address or signature on it.

Miller said spring cleaning is not only good for clutter but can also protect you.

She said, "It becomes a liability to have these things in our house because they could end up in the trash instead of the shredder."

Miller has a list of what documents you should keep and for how long on the Red River Advisors' website.