Pros & Cons of Using Personal Checks

02. November 2011 · Write a comment · Categories: Business, Finance, Money, Personal

Some years ago, a personal check was the only alternative to cash. Nowadays, there are many different possibilities when it comes to payment methods (credit card, debit card, electronic money, etc.). However, some people still use personal checks. Others insist that they are a thing of the past. What are the main advantages and disadvantages of paying with a personal check?

 

Pros

 

A checking account is, for many people, the easiest way to buy stuff without carrying around huge amounts of cash. Here are some of the advantages mentioned by users of personal checks:

-          Keep track of your finances: A personal check is the best way to maintain control of your expenses. Because of credit and debit cards, many people end up with huge debts, only because they didn’t know when to stop. The mere act of writing a personal check allows you to visualize the number you are writing and giving you some time for a second thought.

-          A check allows you to pay real people: Whether you want to give some money to your nephew’s birthday; pay the landlady, who is knocking at your door; or paying the gardener for planting the rosebushes, a personal check is the best way to go in all those situations in which a credit card won’t do it.

-          A check provides proof of payment: This way, it is safer than cash. Use it, for example, if you want to pay in advance for a used car you are buying directly from the previous owner. Besides, since most banks are willing to stop the payment in case problems arise, you can get your money back should you discover you made a huge mistake.

 

Cons

 

Some people refuse to keep using personal checks, and have replaced this method by some other, such as credit cards. According to them, these are the main disadvantages of checks:

-          Are they actually safe? Those who refuse to use personal checks, claim that because you provide too many information in them (full name and address, signature, not to mention bank account number), it is very easy to steal your identity. For this reason, you’d probably think it twice before accepting a personal check from someone you don’t know.

-          Delays: There’s always the matter of waiting for funds to clear, or the risk of the check getting lost in the mail, which makes some people unwilling to use or accept personal checks.

 

Despite its possible cons, with billions of personal checks written every year, this method looks far from disappearing!

Gold Investments And Cash For Gold

27. September 2011 · Write a comment · Categories: Business, Finance, Gold, Money

With the state of our economy in turmoil and the stock market on a downward tumble there are many people that are suffering tremendously from its effect.  Many hard working men and women’s 401k has been depleted. Savings that you invested into stocks have taken a turn for the worst and bank are offering very low interest rates on your personal savings accounts.

                One thing though has taken a turn for the best.  That is, if you invested a couple of years ago in gold, your gains have been tremendous.  The value of gold has soared tremendously over the past few years.  Economists predict that as the economy stabilizes the value of gold will begin to settle down to its normal value. We are slowly beginning to see signs of the economy stabilizing.  While we have a long, long, road ahead, until the economy is really strong, one thing is for certain, now is the time to begin thinking about trading in your cash for gold.

Not only should you be cashing in gold investments, you should also be trading in jewelry for cash.  Take a look all around your house and find anything made of precious metals such as, gold silver or platinum. An old gold coin collection can be traded in.  Your tangled chain necklace, your dented or damaged jewelry, or half a pair of earring can all be traded in for cash in return.

sell gold

Make sure that what you are trading in is made of real gold or silver.  A good and easy way to now that your jewelry is real, is by searching for little numbers on the back or in a small crevice of your jewelry.  Regulations require that all real jewelry must have the numbers which state its value etched into the gold.

 

Also the higher the number the more valuable the piece is.  Twenty four carat is gold in its purest.  Most often gold jewelry is made from fourteen karat gold.  You can use these numbers to determine the value of your piece and how much you can expect to receive from trading it in.

Another tip for you is that you must make sure to use a honest and reliable vendor.  Do some research.  Read the reviews available.  Make sure that they are honest and that they are giving you the highest payout possible.  This is a once in a lifetime opportunity.  Be sure that you make the right educated decision when selling your gold.

You may have been holding on to you gold investments and your gold jewelry for a while.  Once you trade it in for cash and sell gold you will realize what a smart choice it was to cash in when you have the money in your hand.  I’m sure you will be pleasantly surprised to see how much it is worth.  Mark my words now is definitely the time to trade in your gold for cash.