A few days ago I was sorting through my miscellaneous pile of random papers, bills and notes from way back, when I discovered a rare, ancient artifact - my checkbook. Haven’t seen that for awhile., I said to myself. This brings up a good question I’d like to pose to everyone reading now. Do you still use your checkbook? And if so, why?

Ah, the checkbook. I remember my first checkbook. It was college and I opened my first checking account so I could pay rent and buy beer books. But soon that little book went the way of the doodoo with the advent of online banking. It took me more or less a year to fully make the switch but my finances are much more streamlined because of it. But I do still use checks to pay for a few things. Mostly just rent. Besides rent, the last time would have been… paying a parking ticket over a year ago.

In this time of convenience, checkbooks just don’t make the cut. Instead of carrying around a wallet of those paper slips that we have to fill out for every purchase, we have a plastic card that we slide. Instead of paying your monthly bills with checks and mailing them, it’s just easier to go online and get them all done in 10 minutes or less. And going online also gives you the option of seeing what your current balance is, something a checkbook could never give. It’s also a time of environmental responsibility; save more and conserve. Checks are soon becoming a thing of the past, at least from this blogger’s perspective.

So who’s still using their checkbook? Let me know in the comments!

Photo by SeraphimC.

Society is moving toward going green, so doing your part is becoming more important than ever. People now have more ways than ever to help the environment, such as paying bills online to save paper. Many banks have given their customers the option of using prearranged automatic payments from bank accounts, debit cards and credit cards to handle anything from a car payment to Netflix subscriptions. Automatic bill pay takes the thought out of paying bills altogether, but it can also become a problem if you don’t keep careful tabs on your expenses.

Be smart about automatic payments. It’s smarter to use a credit card rather than debt or a bank account since you will be able to notice mistakes in your monthly statements and fix them before any money is taken from your account. Also, if you have a habit of keeping a low balance, overdraft fees will add up if you forget to keep track of your balance.

The MSN Money article, Perils of Automatic Bill Pay, says:

The best candidates for automatic-payment arrangements are those bills that are the same amount every month. They’re not as likely to be the source of contention or error.

But there can still be errors. Watch out for charging the wrong amount and double billing, the two most common errors. Skip auto pay for bills that change from month to month, like phone and utility bills. Read more…

Do you spend money when you shouldn’t? Credit cards seem to be made just for you? Budgets? You don’t need no stinkin’ budget… If you can’t seem to limit yourself by willpower alone you may need some extra help in the form of Intacard. While the idea of prepaying has been around for awhile, Intacard does something a little different by being an easy to use prepaid debit card that is not linked to a traditional bank account or credit card. Just transfer money to it and go. As their website says: “Intacard is the easy way to pay for whatever you are “inta” either online or offline.”

Intacard may be just a simple prepaid debit card but in addition it has a few good features that may peak your interest. For starters, approval is a no-brainer. Bad credit and under 18 are welcome. There are also 3 ways to get cash onto your card once you have it. Direct bank deposit, place funds via a regular credit card or go to an Australian post office to place funds (this one is a little harder to do if you’re based in the States). You can also upload your custom design to make your card unique.

Currently the card is only available with Cirrus and Maestro, with Visa and Mastercard coming soon. Did I mention Intacard is based in Australia? But don’t be disappointed yet Americans: Read more…

For many students, college is the first time out in the real world and mastering money is a major milestone on the road to independence. Some rise to the challenge while others stumble slightly, while still others fall flat on their face and need reconstructive surgery to repair the damage. To avoid being the latter, here are the most common student money mistakes and how to avoid the financial turmoil caused by them.

Not knowing enough about credit cards before you get one. Many credit card companies sponsor giveaways and other events at universities. The whole point is to push credit cards on unsuspecting students. Don’t fall for it! These cards usually have good introductory rates but when a couple months go by the real rates kick in, you’ll be left wondering how your $200 balance turned into $600 in the blink of an eye. If you want to get a credit card, read Choosing Your First Credit Card to get good tips on what to look for in a card. Read more…

Unless you’ve been living in a cave for the past ten years, you know that there is a big movement out there to reduce the use of paper to help save the environment. Many companies, including banks and credit card companies, have provided their customers with ways to pay their bills online, thus curbing the mass quantity of account statements and bills they send out each month. If good karma and saving the planet isn’t enough for you to change your ways, here are a few more you may not have thought of.

Not only can you help Mother Nature but you can also make your life a little more convenient by going paperless. According to a 2007 report by Javelin Strategy and Research, the typical U.S. household sent or received an average of 26 bills, statements and checks per month in 2006. Instead of paying your 26 separate bills, one by one, you can pay them all online in a matter of minutes. Chances are your bank has online bill pay, but even if it doesn’t many credit cards and utility companies have online portals where you can sign on and pay. Read more…

Teaching your kids about money management is a very important lesson, but that lesson becomes even more necessary when your kids are ready to leave the nest and to go to college. College is usually the first time people are exposed to managing their own finances and the way they deal with them at this important time can be a benchmark on how they will manage their finances throughout their lives. If you’d like to teach your teen about money and credit, keep reading to get some good tips. Read more…

How much debt do you have? Five, ten, twenty thousand? Let’s assume that you have a $10 k student loan debt. Now lets also say you happen across $10k. Should you pay off your loan or should you invest the money? Could you make more money on an investment than what your debt costs you? If so, then invest. If not, then pay off your debt. Its simple economics.

The USA Today article, Pay Off Debt or Invest? That is the Question, sums it up best: Imagine you are paying 16% interest on a credit card. The same high interest rate won’t apply safely and consistently on an investment. In this situation you should pay off the debt. Sometimes, the best investment is avoiding the interest on a loan. Read more…

Did you go overboard last holiday season? Maybe that new surround sound system you bought for your brother was a little out of your price range? If you are up to your eyes in credit card debt from the past holiday season there is something Mint wants you to know.

Mint.com is sponsoring a free personal finance contest called Mint’s $5k Cure for Your Holiday Spending Hangover. Share your money management mishaps by submitting a story or video and you could win the chance to get your credit cards paid off by Mint! Read more…

Mint is an incredibly easy way to manage your money online. Instead of having separate sites and logins for each of your credit cards and bank accounts, Mint.com provides one simple site for you to view and manage your finances.

With a great user interface full of charts and graphs to chart how much, where and what you spent your money on, Mint is also surprisingly very secure. Users sign up to Mint anonymously and then add their login information for their online bank, credit cards and other financial accounts they would like to consolidate with Mint. Read more…