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A part of a check that is kept for record keeping purposes. For example, the stub is the part of a payroll check that includes information about the current paycheck as well as payments to date. The check stub can also be a carbon copy of a check that is made when the original check is written.
While paycheck stubs are important for verifying proof of income, they're not one of the financial documents you need to hold onto permanently. As a general rule of thumb, it is a good idea to hold on to pay stubs for at least one year. You'll need your paycheck stubs every year when you pay your taxes.
Sources: http://www.businessdictionary.com/definition/check-stub.html
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