The Rule Regarding String of 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. 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. The following information will help you identify some of the records that you may need to keep and for how long. That will help you keep your file clean and less bulky.
What is interesting is that with the current technology you can have your digital storing of your information to make the file less bulky. You can store the information in your paycheck stub without necessarily taking any 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 have so much space such that you cannot fill it with just paycheck stubs.
However, that does not mean you have to keep all your pay stubs until you retire from the origination. 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 some things that you are supposed to keep for a specific reason, and there are others that you can get rid of immediately. 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 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.