Why Should You or should not keep Paycheck Stubs
There are several reasons that can make you want to keep paycheck stubs. One of the things that make it important is that they help you to prove your income. One of the ways of showing your landlord that you will be able to raise the rent is by showing a copy of your paycheck stub, The other time when you may want to use the paycheck stub is when you are filing your income tax. As much as is advantageous to keep a clean financial record, you will also find that you need to keep your record clean by discarding what you will not use again.
You need to be able to know what you will need out of the many records that you have and drop that which you are not likely to use again. With the following information you will be able to know which of the items you may want to keep and for how long. That will help you to have a clean record of things but with a less bulky file
What is interesting is that with the current technology you can have your digital storing of your information to make the file less bulky. That means you can have the information that you need about your paycheck stub without having any physical space to occupy. With cloud storage the users can have affordable storage of a significant amount of information. With this new technology you can store so much information without looking like you are tiring your computer. That means it is not likely o fill the storage space with just pay stubs.
On the other hand it does not mean that you should keep a copy of all your paycheck stubs from the day of employment to the day you retire from the organization. That is why you should be able to determine among the many documents which if them should you keep and for how long. As much as digital filing can make your work easier, there will be a time when you will still need to get rid of some of the files, and it is essential to know which ones you can discard.
There are some things that you are supposed to keep for a specific reason, and there are others that you can get rid of immediately. When it comes to paycheck stubs, keeping them for one year is sufficient enough. After keeping for one year you may n need the data any more and discarding it may just be ok. That goes hand in hand with bank statements. When it comes to getting financial support like a loan the financiers will ask you is to provide your paycheck stubs for a certain period of time as well as the bank statement.When the records are well filed, retrieving them is not difficult.