Online Banking Continues to Grow in Popularity
Thank goodness for online banking.
From 16 year old girls who get to spend their birthday at Disneyland with their high school choirs to college age sons who unexpectedly have to purchase new tires for their truck while they are 12 hours away from home at college, online banking is a perfect solution. Parents who have the ability to instantly transfer money to their children in both fun and emergency situations understand the benefit of having all of their families debit and savings accounts connected through the latest online banking options.
Mobile deposits, online bill pay, and other options that are offered by the online banking platform make live more enjoyable and convenient. In fact, the personal banking options that are available from the online banking industry even make it possible to look at the options available for a home loan online and save you time when you are looking at the interest rates that might be available to you.
More and More Consumers Rely on Card Transactions in Their Day to Day Tasks
How much cash do have in your purse, pocket, or billfold? If you are like many Americans you are likely in the habit of forgoing the cash and focusing on a debit or credit card that is attached to an online banking account. With minute by minute updates that can help you track your spending and your balances, it should come as no surprise that card swipes are now just as frequent as cash transactions.
One of the dangers of relying on card swipes, however, is the temptation to charge more than you can afford. For this reason, a growing number of parents are teaching their high school teenagers and college age young adults to use a debit card. These cards do not allow these new spenders did overextend themselves. No money in the account. No card swipe.
If you want to avoid having your children become one of the 6 million people who are behind on their car payments by 90 days or more or one of the 32% of Americans between the ages of 53 and 62 who reported to a Bankrate study that they had zero dollars saved, you need to start early. Teaching your children to be good stewards of their money and to make sure that they put away savings that can be used in an emergency requires you leading by example.