How Long Should You Keep Utility Bills in Canada?

Updated

Share:

Share on facebook
Share on twitter
Share on linkedin
Share on pinterest

All Canadians experience a range of events in their life and need to have the papers to show for it. With an increasing amount of identity theft, it is more crucial than ever to ensure that we safeguard our utility bills and when the time comes, to securely dispose of our personal records.

While Canadians do not have to safeguard every individual document that comes their way, there are a few exceptions. Let’s dive into all the details of what utility bills should be kept and for how long.

What is a Utility Bill?

A utility bill is a detailed document that is issued and paid monthly. This invoice covers electric, natural gas, water, telephone, internet, cable, and sewage/waste charges. Utility bills for consumers and businesses are typically outlined in a similar format.

However, businesses simply have several more accounts and charges to supervise than residential residents. It is essential to keep a track of all bills paid but as paperwork piles up, you might be asking yourself what should stay and what can be tossed?

To help prevent feeling overwhelmed, here is a breakdown of what bills to keep and for how long. 

Utility Bills to Keep for 6-7 years

  • Contracts with service providers for Internet and mobile phone access

Utility Bills to Keep for 3 years

  • Gas and electricity bills after you have left a rental property
  • Rental agreement
  • Rent receipts

Utility Bills to Keep for 1-3 years

  • Telephone bills
  • Cable bills
  • Internet invoices
  • Warranties and guarantees

Utility Bills to Keep for 30 days

  • Bills relating to moving house; the claims must be typically issued within 7 to 30 days. 

Should I Go Paperless?

Safeguarding paper copies of essential utility bills is a good idea, but nowadays many companies grant consumers the freedom to store their important documents online.

Luckily now, you do not have to fret about that paper gas bill you misplaced months ago. With the age of technology, there is even an onset of apps that can be downloaded straight to your mobile device to allow you to take pictures of your receipts and store them digitally, so now you have the freedom to toss those extra paper records.

This can help you keep an accurate log of all your bills and calculate the total of your monthly utility expenses. You can also set reminders of when to pay your utility bills so that you are never a day late.

The convenience apps can create for businesses and consumers are a multitude. You can finally say goodbye to filing binders and cabinets. Also, going paperless is great for the environment.

If you have not considered going paperless, you might be drowning in receipts, bills, statements, forms, and other important financial documents. There is a better way to go about it.

You can go paperless now and throw some of those non-essential files to declutter your life. It is true that some of those utility bills as mentioned above need to be kept for some time, but the others can be shredded and discarded safely.

You Might Like

Post Comments

Leave a Comment

Your email address will not be published. Required fields are marked *

Essential reads, delivered weekly

Join the Financial Literacy Train. Get the latest financial information delivered right to your inbox.

Newsletter

Deals and Offers

We’ve rounded up the Best life in Canada, with the best promotions, and the best sign-up bonuses, to help you maximize your benefits.

EQ Bank US Dollar Account

Earn more on your US dollars

World Elite Mastercard

A card for travelling with exclusive perks

Platinum Mastercard

Earn 1 point for every dollar spent

Reviews

Post Comments

Leave a Comment

Your email address will not be published. Required fields are marked *

Canada Buzz Editorial

Product News and Recommendations Senior Editor

Latest Post

Advertiser Disclosure

Canada Buzz is an advertising-supported blog. Some products and services that appear on this site are from companies from which Canadabuzz receives compensation. We may alter brand placements on our website to amplify our partners and their offers. Any time you click to our partner websites or register for a product or services through an affiliate link on our website, we may earn a commission at ZERO cost to you.

Canada Buzz is a purely informational blog. Opinions expressed on this blog are NOT endorsed by the reviewed brands. The information provided on this website does not constitute financial or professional advice. However, our team strives to bring you quality, unbiased information.

Adageorge

Highlights

Avid researcher, freelance writer, and personal finance enthusiast passionate about financial education and literacy.

Latest Post

Kareena Maya

Personal Finance and Travel Rewards Expert Contributor

Highlights

Experience

Kareena Maya is a freelance writer focused on the personal finance and travel spaces. He frequently writes about credit cards, banking, student loans, insurance, travel rewards and more. His work has been featured in publications such as Forbes Advisor, Bankrate, Credit Karma, Finance Buzz, The Ascent and Student Loan Planner.

Kareena Maya is a freelance writer focused on the personal finance and travel spaces. He frequently writes about credit cards, banking, student loans, insurance, travel rewards and more. His work has been featured in publications such as Forbes Advisor, Bankrate, Credit Karma, Finance Buzz, The Ascent and Student Loan Planner.