The Benefits of Having Your Money in One Place
Busy people have a lot to think about, and who isn’t busy
these days? I know I am, and whenever I can find a way to condense everything I
have to think about, I’m much more productive. That’s one of many reasons I
have most of my accounts at the same financial institution.
I’m not one of those people who moves money from account to
account very often, but when I need to do it, I want it to happen immediately.
I don’t want to go to online banking
on financial institution A’s website and schedule a transfer to financial
institution B or C, then wait up to three days for my money to get there. (And
trust me. I do have one loan at a bank that takes longer to process auto
payments than it does to process paper checks.) I want it done now. If my line-of-credit payment
is due and I forget about it until the last second, I want to be able to
transfer money from my checking account and pay the bill right then and there.
If I need to buy something with my debit card and I’m out of money until pay
day, I want to be able to transfer money from my secondary checking account
without getting dressed, leaving my home and traveling to one or more branch
offices to make sure there is money in that account.
Having your accounts in the same place could save you
hundreds, if not thousands of dollars over the years, not to mention countless
hours of time. Think about it. Have you ever paid a late fee because you made a
payment on time, but it didn’t reach the other financial institution on the
same day? Or even worse, it reached the other financial institution, but they
don’t post payments after a certain time of day? That is infuriating. Have you
ever received a discount on services or had a fee waived because you had many
accounts or services all in one place? Many insitituions and financial product offer this benefit, including Kasasa checking accounts.
What about budgeting? Have you ever
had the luxury of doing your budget all from one online banking screen or
program? It’s blissful and makes the budget process so much more painless.
Having your accounts in one place just makes life easier. As
you finalize your financial goals for the year, think about condensing the
number of credit cards you have, the number of loans you have and the number of
financial institutions you have. You’ll be glad you did.
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