Scan important pieces to your computer.
Photograph, then upload to a flash drive.
If they are archival quality documents, keep them safely stored.
Shred the remainder in a cross cut shredder, if you're concerned about security.
Utility bills, yearly insurance information no longer relevant, and the like need not be kept, unless you need them for tax purposes, but even then, scanning would save a tremendous amount of storage space in your home.
We shred all our paper: adds, unsolicited catalogs, envelopes, mail, all paper and use it for mulch around our trees, in our flower beds etc as it is perfect weed prevention (if used in several layers) and cover it with mulch. To use it in a vegetable garden put the shredded paper in a bucket of water and soak it well as you shred. Then put them around cabbage, tomatoes, or any plants to prevent weeds. At the end of summer, roto-till it into the soil.
What kind of paper? Mine goes in the recycle bin. If personal documents, you can get a shredder and then separate and throw in recycle. Some of mine that contain personal info, goes in a box in the garage. Use as starter for my fire pit or when we go camping to start a fire.
Here are some tips https://familyfocusblog.com/clutter-organizing-tips-paper-clutter/
what kind of paper? newspaper donate to local animal shelters rescues TNR groups they need it badly