Direct deposits have taken over as “the” form of payment for employees. It’s expected when starting a job. People think you are nuts if you start asking around for a paper check. There used to be a certain satisfaction that came with walking into a bank after a tough two weeks of work and cashing a paper check. The money felt real, substantial and made you walk with a spring in your step as you walked away.
It’s true that direct deposited checks are convenient, easy to use, and helpful in ensuring your money goes to the right places. But you may be surprised to find that there are actually great benefits in cashing paper checks.
Your Money Becomes Real Again
When you cash a new check, you can see and feel the fruit of your labors. You can count the bills and truly appreciate what you have earned. Appreciation will lead to a sense of responsibility.
When money is deposited directly into your account, it’s easy to swipe your debit card anywhere without worrying much about your final balance at the end of the day. Getting cash helps you manage your money better.
You Save Money With Cheaper Purchases
Many places charge you an extra service fee for the convenience of using a plastic card. They’ll often add a percentage or set dollar amount to your total bill. Gas stations especially enact this policy and you will pay about ten cents more per gallon every time you swipe your card. Paying with cash proves to be a cheaper option in most cases and can greatly decrease your total spending by the end of the year.
You Secure Your Future with an Emergency Fund
No matter how much money you save in the bank, you never know when you will need an emergency fund of cash. Natural disasters, power outages, and other emergencies can leave your bank out of commission at a time that you need it most. Building up an emergency fund of cash can help you get through those troubled times, until you can once again access your bank account.
Cashing checks still offer a tremendous benefit to you as a financial provider. It can help you manage your money more responsibly, save money when making purchases, and help you prepare for any emergency that may come your way. Talk to your employer today about your options and see if you can start receiving paper checks.