You may be curious to know why many people continue to use checks. After all, we have credit and debit cards at our disposal, so it's not like we are limited in terms of how we can make payments. With that said, there are still a number of benefits that paper checks continue to possess. In fact, here are just 4 that Robert Jain, not to mention other authorities on finance, will be able to draw your attention to.
One of the reasons to continue using checks, according to names like Bob Jain, is their convenience. Not only does this prevent you from carrying large amounts of cash, but you can make payments and record them with ease. Checkbooks have made this especially easy, especially if you keep a pen with you at all times. For the sake of convenience, it's easy to see why checks continue to be used.
Next, checks have considerable security, especially when transported. Let's say that, for the sake of argument, that you have to make a monthly payment to your auto insurance company. You may want to send cash, but this tends to be less secure, as tampering is often done when dollar bills are visible from the outside. This isn't the case with checks, though, which means that they boast a greater level of security by comparison.
You should also know that checks are entirely trackable, too. To expand on this, if you end up losing a check through the mail, at a store, or what have you, it isn't gone forever. The reason for this is that checks can be tracked, which means that it can be replaced, resulting in no money being lost on your end. For those that use checks on a regular basis, it can be argued that this is the greatest perk that they benefit from.
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.
One of the reasons to continue using checks, according to names like Bob Jain, is their convenience. Not only does this prevent you from carrying large amounts of cash, but you can make payments and record them with ease. Checkbooks have made this especially easy, especially if you keep a pen with you at all times. For the sake of convenience, it's easy to see why checks continue to be used.
Next, checks have considerable security, especially when transported. Let's say that, for the sake of argument, that you have to make a monthly payment to your auto insurance company. You may want to send cash, but this tends to be less secure, as tampering is often done when dollar bills are visible from the outside. This isn't the case with checks, though, which means that they boast a greater level of security by comparison.
You should also know that checks are entirely trackable, too. To expand on this, if you end up losing a check through the mail, at a store, or what have you, it isn't gone forever. The reason for this is that checks can be tracked, which means that it can be replaced, resulting in no money being lost on your end. For those that use checks on a regular basis, it can be argued that this is the greatest perk that they benefit from.
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.
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