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 reasons is that they can be proof of income. AS you look for an apartment, the landlord may want to prove that you can raise the expected rent, and that is one of the ways of making the person know you can raise the rent. You will also need a copy of your paycheck stub when you are filing your tax returns. While it is to your benefit to have a thorough record of your financial record, it is also important to reduce clutter by making sure you discard what you no longer need.
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. The following information will help you identify some of the records that you may need to keep and for how long. That will ensure that your file is nit full of records that you will never use making it keep bunching for no reason.
The best thing with the current technology is that digital filing is making work easier. That means you can have the information that you need about your paycheck stub without having any physical space to occupy. With cloud-based solutions, users can have large storage of vital information in a more affordable way and less occupying o physical space. The technology can help you helps you to store as much information as possible without tiring the 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 filling I made easier by the digital filing; you will reach a time when you also want to reduce some of the files.
There are some set rules that will help you to know what to keep and what to discard. With paycheck stubs you may need to keep them for at least one year. After that you may want to replace them with the most recent ones. 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.Retrieving the information that is well files will not be complicated.