Whenever I get my bank statements I just throw the returned checks out...am I nuts, could I ever need them?
2007-01-03 10:35:14 · 3 answers · asked by drbigfresh 1 in Business & Finance ➔ Personal Finance
You can get a real feel for inflation by looking at very old checks.
They may serve as proof of payment in case the payment is in question. However this happens so rarely nowadays, that in reality the answer is, no. If you really need it, the bank keeps photocopies that you can request.
2007-01-03 10:43:26 · answer #1 · answered by bata4689 4 · 0⤊ 0⤋
You should keep a minimum of 7 years of personal financial records in case of an IRS audit. If you have to get the checks from your bank, it will be a hefty sum depending on how many you need.
2007-01-03 12:08:01 · answer #2 · answered by forum browser 1 · 0⤊ 0⤋
Not really. If at all, only for a brief period...like a couple months. Thereafter, the banks records should suffice. Unless you are into nostalgia..and want to see how little you used to pay for utilities, etc. at some future date. Then you have proof as youn tell your grandkids that "When I was a kid, we could heat my 1400 sf house in Wi for only $150. a month." To whch they will reply....Oh grandma/grandpa...
2007-01-03 10:55:56 · answer #3 · answered by homerunhitter 4 · 0⤊ 0⤋