Just tossing out old bank account statements in the trash can be a huge mistake. They could easily fall into the wrong hands and give someone access to your personal information. Here are six safe ways to dispose of old bank account statements.
1. Shred Old Bank Account Statements
The best way to dispose of old bank account statements is to shred them. This will make it impossible for anyone to read your personal information and use it for identity theft or fraud. You can buy a home paper shredder or take your statements to a local office supply store or print shop that offers document shredding services.
2. Recycle Old Bank Account Statements
If you don’t want to shred and throw away your old bank account statements, you can recycle them instead. Just be sure to still rip them up into small pieces first so that they can’t be put back together.
If you’re a crafty person, you can also make paper maches. Turn your old bank account statements into something useful, such as bowls, lamp shades, or art decors.
3. Donate Old Bank Account Statements To A Charity or Homeless Shelter
Another option is to donate your old bank account statements to a local charity or homeless shelter. They can use the paper for things such as packing materials or art projects. Just ensure that you’ve blacked out your personal information.
4. Compost Old Bank Account Statements
If you have a compost bin, you can add your old bank account statements to it. The paper will eventually break down and turn into nutrient-rich soil.
5. Burn Old Bank Account Statements (only as a last resort)
If you have a fire pit, you can burn your old bank account statements in it. Just be sure to keep an eye on the fire and make sure that the paper is completely burned up. This should be a last resort option as it’s not the best for the environment.
Do you have some old bank statements that you need to get rid of? What are your plans for disposing of them? Let us know in the comments below.
Tamila McDonald has worked as a Financial Advisor for the military for past 13 years. She has taught Personal Financial classes on every subject from credit, to life insurance, as well as all other aspects of financial management. Mrs. McDonald is an AFCPE Accredited Financial Counselor and has helped her clients to meet their short-term and long-term financial goals.