Many people feel like personal checks are a waste of time and money. They seem like a big hassle to those who love to swipe their credit cards when making any sort of purchase. But checks are not going to fade away quite yet. Here are some ways that your finances can actually be helped.
Ways That Personal Checks Can Help Financially
There are many ways that accounting for your expenditures is easier with checks. Balancing a check book is a great way to keep track of how much money you have in your account and not spending money you don’t have. There are no interest rate charges on a checking account either.
Another aspect is when you need to show up somewhere with money. Showing up somewhere when you don’t know how much money you’re going to need is tough. One example is fundraiser events. You will not know how much money to bring. They also may not have the ability to give change for big bills if that is how you plan to pay for things. Checks will provide a way to show up without stressing about stopping by an ATM or dealing with big bills.
Discounts When Not Using a Credit Card:
There are a lot of people who do not realize that businesses have to pay an extra charge to be able to process credit cards. Credit card companies essentially take some of the money making businesses have to charge more in order to keep their profits up. There are some companies who are willing to give discounts when customers will forego their credit card and pay cash or check. This is especially true in smaller businesses.
The biggest example of this is gas stations. Many stations will display several prices, including the cash price. Others will list the cash price up on the marquis to attract customers. If using a credit card, the price is going to be a little bit higher than these to help compensate the credit card company fees.
Easier To Pay Actual People:
People don’t generally take credit cards when you are paying them. When you pay someone for services like a babysitter or lawn mowing neighbor boy, they have no way of processing a credit card. Not everyone carries around cash either, especially in exact amounts. The great thing about writing a check is that you can write it for any amount. If the amount isn’t in whole dollars, it is even more helpful to write the amount. Keeping checks around can always come in handy.