Why do people clean out their financial records instead of keeping every financial document they receive?

People clean out their financial records to reduce clutter and make it easier to access important documents when needed. Keeping only necessary records helps in managing personal finances more efficiently, as it minimizes the risk of losing vital information. Additionally, many financial documents have retention periods; for example, tax-related papers are typically kept for a few years. Regularly purging outdated or irrelevant documents also enhances security by reducing the chances of identity theft.