![]() And filing your tax return electronically can speed up your refund. Having your documents categorized and sorted makes things easier come tax time. If you need to, you can keep years of records in a laptop or on a thumb drive. Bank statements often contain interactive features that let you find out more about a charge and reconcile your checkbook. You might be able to search and sort electronic bills and statements or import the data into financial programs, such as spreadsheet applications, for analysis. Electronic versions don't take up any space-except on your computer hard drive. Eventually you'll have to shred many of them before you discard them. Reduced clutterĪll those paper bills, notices, and statements tend to pile up, and they need to be stored somewhere. ![]() Citizens Bank and Charter One pay account holders 10 cents every time they conduct certain transactions electronically, including using their debit cards and paying bills online. Other businesses offer incentives for you to go paperless. ECG Long Distance charges 2.5 cents a minute for domestic long-distance calls if you get your bill by e-mail but 3.5 cents if you want a printed statement. Also, some companies have begun charging for paper bills. You often can direct a company to take the payment from your bank account the day it's due, maximizing the time your money is earning interest. Paying bills online eliminates the cost of postage. Paperless billing and record-keeping offers several advantages for consumers. And some companies now make annual reports and proxy materials available online automatically, requiring shareholders who want paper copies instead to request them. Electronic statements are a requirement if you want a high-interest checking account. Treasury has proposed a rule that all benefits, including Social Security and Veterans Affairs payments, be made electronically for new enrollees beginning March 1, 2011, and for existing ones starting March 1, 2013. In other cases you might not have a choice. You might want hard copies of certain documents, say, your tax returns, as well as electronic ones. ![]() Of course, you can go paperless for some items but stick with paper for others. There are several factors to consider before trading hard copies for electronic ones. But it's not for everyone or every situation. In addition to saving trees, going paperless can also save you money. More companies are giving customers the option of receiving bills, notices, and other paperwork electronically, as well as making payments over the Internet.
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