![]() Make sure your computer and backup device are secure and that you have updated antivirus and antispyware programs. Secure your computerīack up your hard drive and keep a copy of your data in a different location from your computer in case of a fire or other calamity. Here are some steps to take for all or some of your financial documents. Otherwise you'll lose your rights under federal law. It has to be in hard copyĮven if your credit-card issuer lets you initiate a challenge to an unauthorized charge by phone or through its website, you must mail a letter about your dispute to the address your issuer provides. If either seems like too much trouble, perhaps you need the arrival of an actual envelope to get you motivated to look at whatever's being sent. You'll have to log into your account on the company's website to get it. For others, you'll receive a notice that the document is ready to be viewed and downloaded. Some bills and other electronic communications arrive directly in your e-mail In box. But keep in mind that Consumer Reports testing found that the cost of paper and ink to print a page of black text can be as much as 12.6 cents. ![]() If you hate reading on a computer screen or for any other reason find yourself printing everything, consider sticking with hard copies from the companies you do business with for convenience. ![]() And electronic records aren't for you if you don't keep your security software up-to-date or use a log-in password. Having all your documents in one place is convenient, but they're an easy target if a hacker or an unauthorized user in your home gets access to your machine. Consider sticking with paper if: Your computer isn't secure The estimates take into account paper, transportation, and disposal.Īs we mentioned, going paperless isn't for everyone, nor is it a good idea in some cases. PayItGreen, a coalition led by an electronic-payment industry group, estimates that by eliminating paper bills, payments, and statements alone, the average household would save 6.6 pounds of paper each year, avoid the release of 171 pounds of greenhouse gases and 63 gallons of wastewater, and cut gas consumption by 4.5 gallons. 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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