A Room Full of Paper Statement, Still Rocks
Posted by Cap in Online Banking , Personal Finance on July 11, 2006 |It’s the ultimate personal finance question: paper statements or electronic statements?
I’ve been debating the question since last year, and like Jonathan of MyMoneyBlog, I’ve also been trying to gradually go from paper statements to electronic statements. But, in the end, I’ve decided to stick with paper statements. It’s just too easy to ignore emails, and it’s just too much of a hassle (for me) to manually backup these data myself.
There are always incentives and offers from companies to get you to switch to online statements, usually in the form of a credit to the account. Chase’s current incentive is a pretty good one:
In this method, Chase will be the one storing the electronic statements on their server. Sure, it’s not difficult to download and backup your statements yourself (to Gmail, CDs, etc.), but having easy access to 6 years of past statement is even better.
If everyone jumps on the 6 years of statement stored online bandwagon, I would be awfully tempted to try and go paperless again.
Related Post and Links
- Ditch the Monthly Paper Statements?
- Sticking to Paper Bills from MyMoneyBlog
- Don’t Get Electronic Credit Card Statements from Blueprint for Financial Prosperity
2 Responses to “A Room Full of Paper Statement, Still Rocks”
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July 12th, 2006 at 1:35 am
I’m tempted to think the credit card companies keep all our data for years and years anyways, to mine later to figure out our spending habits.
July 12th, 2006 at 9:58 am
90 years from now when your kids inherit your stock portfolio, they’ll be glad you kept the paper statements with the original purchase price. That’s one reason to stick to paper.
I like paper because I’m a pack rat. And frankly, I don’t trust electronics. I had a motherboard replaced recently and now the desktop still spontaneously reboots on me, so no, I don’t trust electronic at all.