The Mr. was raised in a cash only family. He didn’t even have a credit card until after we were married. He was slightly fearful of them, but I explained that if he wanted to start a business someday then he needs to build credit. Also, if we ever want to buy a house, a car, or anything else.
I, on the other hand, was raised in a cash/credit family. If you had cash on you then you paid with cash. If not you used your credit card which you treated like cash. If you didn’t have the money in the account you didn’t use the card. The first thing my parents made me do after my high school graduation party was to go to a bank and set up a checking account with a credit card attached. I made sure to always pay my balance each month (never just the minimum) and watch my cash flow. I was a pro by the time I got married.
I actually started online banking back in college because I was notorious for not balancing my check book and wanting to know what was in my account at a moments notice. I haven’t looked back since I started using it. I now online bank at both of my banks, and I love the convenience of it. I get online statements and can pay my credit card off as well. I could also set up online bill pay for my electric or car payments (which I will probably do here soon). I can check my account balances and transfer money without ever walking into a bank (especially a competitor’s bank now that I work for a bank).
Online banking has made our life so much simpler. I need to transfer $100 from our joint to my individual account. Online banking. I need to pay the credit card off. Online banking. I want to see a copy of the check that I used to pay my electric bill. Online banking. I want to see my transactions for the last month. Online banking. I never have to leave my house or take off my polka-dotted pajamas to do it. It is awesome and green.
It is green because the bank no longer has to send me monthly statements. I get it in an e-mail instead. I never get credit card statements or bills. Everything is done online. I don’t have to waste the gas to drive to the bank to look to see if something went through or to transfer funds. On top of everything, it is FREE. If you have a checking account most banks allow you to bank online for free.
Life is grand with online banking. I still hate paying bills but hey, that is another story.
Do you bank online? What are some things that you wish you could do online that isn’t possible yet? Have you ever heard of text banking or mobile banking?
I use a comprehensive online banking website called www.mint.com. It combines all of my accounts (checking, savings, credit cards, car loans, and investments) into one manageable interface.
ReplyDeleteIt also lets you set budgets, automatically "categorizes" all my purchases into groups, and then applies them to the proper budget.
Best of all-it is free!
(Aside: the website uses the same security clients that Chase and First Merit online banking use. It also is "read-only" information... you can't move money, make payments, etc. Only monitor and budget which makes it safer as well)