Legacy signals
Legacy popularity: 492 legacy views
I found what I think is the most convenient way to manage all of your income. I'm not saying I have a lot of revenue, but it will come from various sources - a paycheck, investments, odd jobs, and on other occasions, for example, some of our group want to focus a little bit of money to buy a pizza or some other group purchases.
Traditional banks used to require an account and then they had to check a few days before the money can be spent. Sometime late 80's, many employers began to offer direct deposit for their employees. No more checks. Money just magically appeared on your bank account and you can skip it. No more delays.
Then along came the ATM card. Now, if you're not careful about the ATM card you can eat you alive. Some network systems, the fee of $ 3-4 dollars per transaction. But if you operate within your network, or get your money back when you go shopping, ATMs can be a great convenience. Some banks even allow to use the ATM to deposit money into your account.
Now, here we are almost 30 years after the advent of direct deposit and we have a new, simpler, easier to send, receive, spend and keep track of your money. The system is based on all available technology and the best place to use it for our convenience. Direct deposit, debit cards, ATMs, internet and mobile phones. Yup I said cell phones.
Here are some things you can do with this new system - your paycheck directly deposited to your debit card - no checks to more expensive, no more "I'm sorry we only accept local checks, more than the minimum balance, no more monthly bank fees. (Side tangent, my old bank must I keep at least $ 500 of which are almost zero interest paying savings account, to waive the monthly fee for the current account).
With your debit card is loaded you can buy anywhere that accepts MasterCard. You can use an ATM to get cash (at a network location for the 4200 tax). You can deposit money into your debit card at an ATM. You can get your money back when you buy things as you can keep your current debit card. Your account includes online bill pay - say goodbye to the check order charges, slow delivery, etc.
You can even manage their finances online suite of cash management tools. Track income, expenses and debts, all from one page. If you do not understand the value of this, read one of my articles on the budget and debt reduction.
The drum construction .... please
You can send and receive money via text feature on your mobile phone. Imagine that you are in the middle of nowhere and your car breaks down. You have some money, but only in a small town in the ATM is out-of-order. The bank does not open until Monday. You really need to get moving.
In the old days you would get someone to send a money order through the wire of a single commercial wire services (fee), then you will need to cash that money order (charge). Or you have to wait until the bank opened on Monday. But now you can call your friends and family members to whom ever you want, and they can text you the money you need. Just then click send money to the card, and you can skip it.
Want to get the pizza? All the text you a few dollars and as soon as your card is loaded. No more split the bill. No more short-changed for Deadbeat, who never enough to cover their share. Do you have what has, so far as you can and make sure you have all the money in hand before you order a pizza post.
I found what I think is the most convenient way to manage all of your income. I'm not saying I have a lot of revenue, but it will come from various sources - a paycheck, investments, odd jobs, and on other occasions, for example, some of our group want to focus a little bit of money to buy a pizza or some other group purchases.
Traditional banks used to require an account and then they had to check a few days before the money can be spent. Sometime late 80's, many employers began to offer direct deposit for their employees. No more checks. Money just magically appeared on your bank account and you can skip it. No more delays.
Then along came the ATM card. Now, if you're not careful about the ATM card you can eat you alive. Some network systems, the fee of $ 3-4 dollars per transaction. But if you operate within your network, or get your money back when you go shopping, ATMs can be a great convenience. Some banks even allow to use the ATM to deposit money into your account.
Now, here we are almost 30 years after the advent of direct deposit and we have a new, simpler, easier to send, receive, spend and keep track of your money. The system is based on all available technology and the best place to use it for our convenience. Direct deposit, debit cards, ATMs, internet and mobile phones. Yup I said cell phones.
Here are some things you can do with this new system - your paycheck directly deposited to your debit card - no checks to more expensive, no more "I'm sorry we only accept local checks, more than the minimum balance, no more monthly bank fees. (Side tangent, my old bank must I keep at least $ 500 of which are almost zero interest paying savings account, to waive the monthly fee for the current account).
With your debit card is loaded you can buy anywhere that accepts MasterCard. You can use an ATM to get cash (at a network location for the 4200 tax). You can deposit money into your debit card at an ATM. You can get your money back when you buy things as you can keep your current debit card. Your account includes online bill pay - say goodbye to the check order charges, slow delivery, etc.
You can send and receive money via text feature on your mobile phone. Imagine that you are in the middle of nowhere and your car breaks down. You have some money, but only in a small town in the ATM is out-of-order. The bank does not open until Monday. You really need to get moving.
In the old days you would get someone to send a money order through the wire of a single commercial wire services (fee), then you will need to cash that money order (charge). Or you have to wait until the bank opened on Monday. But now you can call your friends and family members to whom ever you want, and they can text you the money you need. Just then click send money to the card, and you can skip it.
Want to get the pizza? All the text you a few dollars and as soon as your card is loaded. No more split the bill. No more short-changed for Deadbeat, who never enough to cover their share. Do you have what has, so far as you can and make sure you have all the money in hand before you order a pizza post.