My filing cabinet has been full for years so I just pile paper on top.
When that starts to topple I throw it all in a box to sort out "later." I have a couple of boxes in a closet that I can't even look at.
But recently I made a little bit of progress and cleaned out the filing cabinet that has most of the current stuff. I threw out quite a bit and everything is nicely organized, for now.
If you need it for tax purposes, keep it.
If it's a major purchase, keep the receipt, paperwork, whatever.
Otherwise, toss.