As far as the online statements go, I have converted to online only for just about every statement that I get, including non-credit card related statements. My only requirement for doing so is that the online statement be available in PDF format and that it be a close representation of the paper statement. I don’t rely on the email notifications because most statements are available about the same day each month, so I simply keep a list of all accounts that provide statements and check them off my list for the month when I download the statement.

Using this method I am able to keep years of history without the need for paper storage and as long as you have a good backup plan in place, I don’t see the need for all the paper. There are many benefits to electronic statements other than storage, including being able to search and pull up statements faster than digging through paper statements. You don’t have to worry that your statement will be lost in the mail, or worse, stolen. Experts have said that the chances of identity theft through sealing paper are greater than stealing information electronically. You are saving the companies that send you the statements money and some are willing to pass those saving on to you. I remember when online statements were first starting to catch on, most companies would give you credits of some sort if you switched. And last but not least, you are saving trees.

* Just my two cents.