Why Should You or should not keep Paycheck Stubs
There may be many reasons why it may be essential to keep the record of 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, You will also need a copy of your paycheck stub when you are filing your 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.
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 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. 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.
That does not mean that you must keep a record of your paycheck stubs from employment to the day you retire from the organization. That is why you need to identify which of the many records 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. The information on the paycheck stubs may only be relevant for one year. After one year you may not find the information useful, and you may want to replace with the most current ones. You will also need to use your bank statements together with paycheck stubs. You should be able to provide a record of your bank statement as well as your paycheck stubs forte period requested especially if you are asking for a financial support like loans.When the records are well filed, retrieving them is not difficult.