If you have a computer and write more than a handful of checks each month, I urge you to start managing your money online. Some 53 million people bank online, and many of them pay their bills with just a few clicks of the mouse. The recipients don’t need online accounts; the bank can mail them a check.
Online banking can helps build wealth. Every time you log on, you see how much money is in your account, which helps prevent you from bouncing checks. You can have your paycheck deposited automatically in a money market savings account, where it earns interest. When you’re ready to pay bills, you can transfer money from savings to your checking account in seconds. Plus, online banking makes it easy to set up automatic payments. Your bank is safe enough. If a hacker swipes your money, the bank is liable. And I figure I’m safer because I don’t carry a checkbook.
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