I do, no room for a filing cabinet now so I have files in labelled boxes on a shelf in a cupboard next to the computer. Makes perfect sense to me, Mr C can never find anything. I suspect most filing systems make sense to the author but to no one else. 
I keep receipts for big purchases, jewellery, watches, anything to do with IT and other things it seems sensible to retain forever attached to the instructions and/or warranty, or until the item is replaced. Receipts for clothes and insignificant items go after a year and are stored by month separately. My work records are kept for 7 years, a shredding session each April. I'm 5 years away from them all being gone which will be a good feeling. Any receipts for gifts are kept in an envelope (!) until I am sure the recipient is happy and any warranty has expired.
I accept its inevitable that the one vital document or receipt will be the one that has been mis-filed. Life eh?
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