5 Reasons To Utilize Paper Checks In Your Personal Finances
Personal checks have long been a simple and straightforward way of making payment in instances in which cash is an unacceptable or unfeasible form of currency. While many businesses still use paper checks to pay their bills and cover other essential operating expenses, some consumers have veered away from them entirely. It’s important to note, however, that these tried and true payments mediums are hardly antiquated or obsolete. There are still a number of impressive benefits that you can gain by utilizing paper checks in your personal finances. The following are five of them.
1. You Won’t Have To Pay Any Convenience Fees When Using Personal Checks
There are a number of companies that regularly charge convenience fees for payments made with debit cards, or in-person and in cash. These include both cell phone companies and property management companies among many others. If you never use checks, you’ll find that these convenience fees can quickly add up. By simply switching back to your checkbook, you can save more and reap the rewards of having more disposable cash.
2. Get Security You Can Trust
With more consumers using credit cards and increasingly digital payment solutions, both information theft and financial theft are becoming increasingly common as well. If your wallet, mobile phone, or purse gets lost or stolen, monies that are stored on debit and credits cards, all cash, and all accounts that are readily accessible via your cellphone could be gone. With personal checks, each check will require a signature, and all cashiers will want to see proper, government-issued ID before taking payment. More importantly, when checks are stolen, the financial repercussions are rarely as immediate as they are with other lost payment mediums. This gives consumers ample time to mitigate any potential damages.
3. Don’t Stress When Putting Payments In The Mail
Checks are great for people who like mailing their payments off rather than paying them online. There’s a multitude of reasons to avoid online bill paying platforms including the potential for information theft, personal discomfort, and possible service fees among others. If you’ve ever been taken advantage as the result of an online transaction before, odds are that you may never feel comfortable keying personal and payment information in again. There’s also the fact that there’s still a very large number of businesses that don’t accept debit or credit cards. You certainly don’t want to miss out on your opportunity to order from your favorite artisanal florist, antique dealer, or fashion catalog just because you aren’t using checks. There are even certain school-related services that parents can often only access by money order or check. These include school portraits, uniform ordering, fundraising participation, and more. Having checks and using them can make it infinitely easier to make a vast range of payment types.
4. Track Your Finances With Ease
Learning how to balance your checkbook was once an essential step in learning how to balance your finances. Many consumers find that tracking their spending is infinitely easier when they revert back to this old and long-trusted payment and money management system. With each expenditure, you’ll be able to manually calculate how much you’ve spent and how much you’ve got left. The maintenance of this tangible record is often more informative than viewing online account balances given that digital payments can show up at varying and often surprising times.
5. You Don’t Need An Internet Connection To Pay With A Check
Studies show that there are quite a few people who don’t have Internet service and who don’t have any intention of getting it. If you’re voluntarily cord-free in this respect, or if you live in a region with perpetually spotty Internet service, paying by check will make managing your personal finances a far more seamless and much less stressful process all-around. You’ll be able to safely send large sums of money to your creditors, and you’ll always maintain the option of canceling checks if they ever get off-route.
Even in the modern world of increasing digital convenience, paper checks shouldn’t be underestimated. They remain a trustworthy and reliable medium for paying bills of all types and sizes. Moreover, they’re perfect for anyone who’s leery of using the web to share highly sensitive financial information.