On the surface, making a payment with a check seems archaic. With methods like debit cards and PayPal, one would make the assumption that paper checks are outdated. This isn't exactly the case, though, as many people use them to this day. Why is this the case, you may wonder? As told by Robert Jain and other names in the world of finance, here are 4 reasons to continue using checks.
According to reputable names in finance like Bob Jain, many people rely on checks because of how surprisingly convenient they are. First, it's easy enough to record the payments you make through your checkbook. Second, if you carry checks, you won't have to worry about carrying as much cash, especially if you don't like doing so in the first place. Convenience matters, especially when it comes to financial matters.
It can be argued that checks are more secure than cash, too. For example, if you must send a check to a company through the mail, there is less of a chance of tampering being done. This is one of the biggest concerns that people have when sending money through by mail, which is why checks tend to be recommended for this purpose. Make sure that you cover them with white paper, too, so that they are obscured from the outside.
Tracking is another area where checks seem to thrive. Seeing as how every check has a unique number, you won't have to worry about losing it. Furthermore, if you listed a certain amount of money on the check itself, nothing will be lost on your end. Those that rely on cash won't be able to rely on this benefit. Checks can be tracked if they're lost or stolen, which provides bank clients with peace of mind.
It's also worth noting that checks can help people stick to their budgets better. Let's say that you're in a position where you have to write checks on a regular basis; sooner or later, you'll begin to develop an understanding of your spending habits. Ergo, you can see what you spend the most on and where money can be saved. For the sake of cutting costs, especially in the long term, checks are nothing short of beneficial.
According to reputable names in finance like Bob Jain, many people rely on checks because of how surprisingly convenient they are. First, it's easy enough to record the payments you make through your checkbook. Second, if you carry checks, you won't have to worry about carrying as much cash, especially if you don't like doing so in the first place. Convenience matters, especially when it comes to financial matters.
It can be argued that checks are more secure than cash, too. For example, if you must send a check to a company through the mail, there is less of a chance of tampering being done. This is one of the biggest concerns that people have when sending money through by mail, which is why checks tend to be recommended for this purpose. Make sure that you cover them with white paper, too, so that they are obscured from the outside.
Tracking is another area where checks seem to thrive. Seeing as how every check has a unique number, you won't have to worry about losing it. Furthermore, if you listed a certain amount of money on the check itself, nothing will be lost on your end. Those that rely on cash won't be able to rely on this benefit. Checks can be tracked if they're lost or stolen, which provides bank clients with peace of mind.
It's also worth noting that checks can help people stick to their budgets better. Let's say that you're in a position where you have to write checks on a regular basis; sooner or later, you'll begin to develop an understanding of your spending habits. Ergo, you can see what you spend the most on and where money can be saved. For the sake of cutting costs, especially in the long term, checks are nothing short of beneficial.