what is the best means of scanning a document and saving it on a hard drive with out using a lot of space?

Question

I want to scan bank statements and other documents to my hard drive and use the least amount of storage space. Which is best J-peg, pdf.....?

Answer 1

basically the less the detail on a scan ( for example scan it in black and white or as black and white text) rather than a color high definition ( resolution dpi) color photo

by the way jpegs take a lot less space than bitmaps
they are the mp3s of imaging

Answer 2

I'd try scanning the doc, then converting the IMAGE to text. That would consume the least space

Answer 3

Try using OCR application, so you get a real text.