Why Checking Accounts Aren’t Obsolete
As the 21 st century gets underway and the world of banking and finance continues to change, many people think that the checking account has become obsolete. After all, we can buy things simply by waving our smartphones and make online purchases with the click of a mouse. In that new wired world, some 21st century consumers simply assume that there is no room for a traditional checking account.
Those people would be wrong. The checking account may have been around for more than a century, but that does not mean it is obsolete. In fact, maintaining a checking account is more important than ever before, and if you do not have one you could find your financial life hampered for years to come.
One of the reasons some people avoid checking accounts is that they think they are filled with fees and nuisance charges. While that may be true in some cases, it is not hard to find a free checking account in Edison NJ or anywhere else in the country. If you shop around carefully, you can find a checking account that is completely free of charge, allowing you to enjoy the many benefits without paying a single penny.
Once you find that free checking account, you will find it more useful than you ever suspected. Not only can you write paper checks but you can use your debit account to shop anywhere Visa and Mastercard are accepted. In fact, using a debit card tied to your bank account is one of the best ways to enjoy the convenience of electronic payments without the high interest rates and charges associated with credit cards.
In addition to the benefits listed above, maintaining a checking account has a number of other advantages as well. Simply learning to balance a checkbook can give you greater insight into your finances and help you develop a more realistic family budget. Knowing where your money comes from and where it goes is an essential first step on the road to financial freedom, and a checking account is an integral part of that learning process.
If you play your cards right, you may even be able to earn a little bit of money on your checking account. While interest rates are low, there are still a number of checking and savings accounts that pay you back. You might not get rich, but if you shop around you can get more for your money.
As you can see, the checking account is not dead, and it is not obsolete either. Whether you need to pay your monthly bills, buy groceries for your family or gas up the car, a checking account can be a convenient way to manage your financial life.