Converting to electronic forms

While thinking through the last “geek” post it got me thinking about other efficiencies. I know some of you are real efficiency geeks so some input would be great. I did a search on “electronic” but didn’t come up with anything so I apologize if this has been hashed out before.

Likely I save too much stuff but it seems with each passing year I need to go into my files and physically re-file the previous year’s files to keep my file cabinets from tipping over due to weight. Its amazing how much paperwork I can generate and/or save.

Does it make sense to convert everything you have to an electronic form to save on your PC or Cloud? Items that come to mind include leases, applications, eviction notices, receipts for park expenses, vendor bills, legal stuff, purchase contracts, utility bills, etc… If this is worth the time are there certain things for which you would definitely keep originals (leases)? Is there a specific way you go about doing this other than just buying a good, fast scanner? Do you immediately discard things after they are scanned?