The Rule Regarding String of Paycheck Stubs
There may be various reasons that would make you want to keep paycheck stubs. One of the reasons is that they can be proof of 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 will need to use your paycheck stub is when you are filing your income tax returns. 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.
The most important thing is to be sure of what you may or may not want and then keep away what you think you will never 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 keep your file clean and less bulky.
The best thing with the current technology is that digital filing is making work easier. That will help you store your paycheck stubs without taking physical space. With cloud storage the users can have affordable storage of a significant amount of information. With the new technology you can store so much information and still have more storage space. You may not be able to fill the storage space with just filing paycheck 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. You will still need to delete absolute files even after you have kept them for a long time.
There are specific guidelines on what to file and what to throw away. The information on the paycheck stubs may only be relevant for one year. After that you may want to replace them with the most recent ones. That should be together 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.