Paperless Personal Finance Can Save You Money?

Blueprint for Financial Prosperity has listed 5 ways that going paperless in your personal finance can save you money.

We’re relatively paperless, aside from saving the sort of crap the IRS wants to eyeball, we try to touch as little paper as possible. This behavior helps us to pay our bills on time and eliminates stress, as we have some sort of extreme mental block against buying stamps. Stamps are evil.

If you’re considering cutting down on your paper, check out BFP’s list.

5 Ways Paperless Personal Finance Saves You Money [Blueprint For Financial Prosperity]
(Photo:foundphotoslj)

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  1. Alexander says:

    I signed up for paperless bills the moment they were offered and haven’t looked back since. The only thing I never do is automated payments. Specially for phone and cell phone bills because they are hardly ever the same. I do love scheduled, set payments though. Set it and forget it…

  2. nweaver says:

    As a security person, I want PAPER bills. Paper trails are good when dealing with corporate F-ups

  3. toomanyplugs says:

    @nweaver: Seriously. I have been screwed a couple of times by the “down for maintenance, can’t access your account details” issue.

  4. crossn81 says:

    I just setup our Sallie Mae loans for auto-debit and we get a 0.25% interest rate reduction for doing that! My wife and I had both missed a payment or two in the initial years (for stupid reasons) which stinks since they offer discounts for good payment history. I was able to get some type of incentive from a lot of my companies for switching to paperless statements! As for paper trails, you can often get your statements sent to you or print out the electronic statement.

  5. forever_knight says:

    still want records of your ebills? print to PDF all your bills and save them in a folder on your computer. do it every month forever and forget you ever clung to paper copies, it’s so 2006.

  6. realjen01 says:

    Going paperless also saves the bank money….but does that savings trickle down to the consumer? Yeah right…

  7. alice_bunnie says:

    I’ve found the only problem going paperless is that sometimes you loose access if you don’t print them all. That kind of defeats the purpose of going paperless, you’re only doing the company a favor by saving them the printing and mailing costs.

    I was paperless with my phone company, but when I changed my telephone number they changed the account number. I could no longer access my old bills.

  8. digitalgimpus says:

    I download PDF’s of all my bills/statements/etc. Keep them all in Quicken. I use the paper bills they send and just file them for a hard copy.

    Electronic copies have one major advantage: backup. . It’s easy to make another copy, store it offsite, etc. In case of a fire that’s a major help to have all your financial records preserved. Unless you photocopy everything you can’t do that with paper. I can just duplicate the dir in seconds.

  9. gtr225 says:

    I always use paperless billing whenever I can. I’m also in the process of scanning all my paper documents so I can keep copies on my computer and shred all the paper waste.

  10. uricmu says:

    Not sure about the legal standing of PDFs that you print on your computer, since they are easier to forge.

    Material printed by corporations is typically printed using special equipment, letterheads, and paper, that is much easier to trace back to said company.

    I keep paper trails printed by the company just for that reason.