Every year there is a new smartphone, a new app, or some new technology for business and personal use. These advances in technology cause many companies to move toward a paperless system. Now you don’t have to jump on the paperless bandwagon, but you may want to consider it. Although daunting at first, paperless systems can simplify and even enhance a lot of your processes in the long run.
Not too long ago, we prepared paper tax forms by hand and mailed them to the IRS. Now we can go to IRS.gov or use tax preparation software to file taxes. If you receive a refund, monies will be electronically deposited into your checking account often in a manner of days. We no longer wait weeks to receive a paper check. Even if you prefer the paper check, many banks will allow you to electronically deposit directly into your bank account by taking a photograph of the check. So, it is a matter of preference.
Although we are in an electronic paperless era, some of our financial documents are hard copy, such as birth certificates, social security cards, marriage certificates, passports, wills, etc. We might need to quickly access some of these documents, while also storing them securely, to reduce identity theft. A fireproof file box with a lock and key could secure your documents from the environment and keep them organized. Some fireproof fireboxes provide additional protection via combination and biometric locks.
Now, what about all the other financial documents? Should we store these items in a firebox for quick access or store them in the cloud? Storing them in the cloud refers to using a secure website to upload and store your important documents. One of the benefits of cloud storage is that users can access their cloud securely from anywhere, on almost any device. Another benefit is that data is backed up by the site owner. A third benefit is that documents can be securely shared with others electronically. And lastly, if you happen to need a paper copy of the document, you simply print them.
Where will you store your financial documents? If you need help deciding or weighing your options, or have questions about any other finance and food topics, email firstname.lastname@example.org or follow me on Facebook @DuvalFinance and Food!