What do you prefer, paper or plastic? Every day more and more people are putting their money in banks instead of keeping cash. I honestly think that one day there will be no more cash, just credit and debit cards. Some employers have actually stopped handing out paychecks and instead, they give you a prepaid debit card and put your check on it everytime you get paid. Or you also have the option to set up direct deposit to your own bank account, you don't have any other choice but to use plastic to access your money. My job does that and I think it is completely ridiculous.
I don't trust banks at all. If everyone stops using cash and only uses paper that will give the banks ALL control. What happens if our economy goes in the hole and the banks just shut down all bank accounts? A lot of people have ALL of their money in banks and if that happens, there it all goes.
With that said, how do you feel about everyone turning to bank cards instead of cash? Do you trust a bank with all of your money? If you don't, would you ever?
Jessica Sherman-Corbett (10:00)
25 comments:
I do not trust banks at all. But I think that it is easier for people to trust a bank with their money then to trust that they won't get robbed and loose all their money. I know that banks can't be trusted because they have screwed my parents several times and they blame the problems on their clients. I do feel a bit like the banks will end up running things, but I feel that it is unlikely. Or at least that it is unlikely that it will happen any time soon that we should worry about it. I do agree that people shouldn't rely so heavily on their credit cards and debit cards for everything. I do think that it will come back to haunt us, just like trusting computers with pretty much everything will come back to haunt us.
Justine Miller
Personally I prefer plastic. Now that I am a college kid I use my debit card more than ever. I always get crime alerts about a mugging or robbery. If that were to happen to me and my purse got stolen and I only had cash in it I would be screwed. The cash is gone and I wouldn't be able to get it back. But with my debit I could call and cancel it and maybe even find the person who stole it. We are insured by the government for a lot of our money so if banks were to go down we would get most if not all of it back. I mean I still do use cash but not nearly as much as my debit.
Becky Gryczewski
I trust banks to a certain point. I have most of my money in the bank so that it can draw interest, even though right now the interest rate is very low. My husband and I have IRA's that are meant for us to retire on. If the bank we have them in suddenly closed, it would be hard to recover but I wouldn't put that kind of cash in a sock and hope for the best either. You have to trust some one at some point or it will drive you over the edge. I don't have a debit card and don't plan to get one. I also don't do banking on line. Too many variables and internet hacking.
Lois Sjoken
I rarely carry cash on me anymore, debit cards are easier. I also spend less because I don't have cash on hand. I don't think it is a bank trying to control us, I think it is them making my life easier. I use online banking to check my account daily to track where my money is going. My husband and I have joint checking accounts, so it is nice to be able to get online and check to see where we are spending. We like having our checks directly deposited because it saves having to wait in line at the bank. I also use this to pay my utility bills, which means that I don't have to waste money and time mailing them in. I have money taken out every month to put into my daughters mutual funds and other accounts. Online banking and debit cards just make life easier and I am glad to have them.
Amy (10a.m.)
I rarely carry cash on me anymore, debit cards are easier. I also spend less because I don't have cash on hand. I don't think it is a bank trying to control us, I think it is them making my life easier. I use online banking to check my account daily to track where my money is going. My husband and I have joint checking accounts, so it is nice to be able to get online and check to see where we are spending. We like having our checks directly deposited because it saves having to wait in line at the bank. I also use this to pay my utility bills, which means that I don't have to waste money and time mailing them in. I have money taken out every month to put into my daughters mutual funds and other accounts. Online banking and debit cards just make life easier and I am glad to have them.
Amy (10a.m.)
I trust banks to a certain extent. having cash on hand to pay for things and know that there would not be a mistake at a bank to overdraw or mistakingly think that you have the money in the bank. With having a bank account at times banks can be hacked into and information could be taken. That has happened to my parents and the bank did not have the want to help her out as much as you would think. As for the overdraft charges my parents had to pay them, which is unfair to them when they didnt give permission to the people that stole their account information. I think that having cash has many advantages. you dont have to use a credit card to get money out of the bank, no charges to withdraw money, and you have no worry you will be charged an overdraft charge if you dont have an account.
jodi
well i prefer paper becase then i do not have to pay a kind of intrest rate like i would with a credit card.
65 mustang
There is always the risk of loosing your money no matter what you do with it. It is good to have a credit card for large purchases to build credit for buying a house and a card. If you try to do this with cash the IRS will check to see where you got the cash you used and they will tax you heavily. Now it is good to have cash because you know where it is and you don't have to pay for the interest rates and the bank cant stop you from buying something. I do prefere cash over a credit card but i would like the credit card to get good credit.
--Jeremy Harding
This is a good point. i'd go with paper. I mean, i have a debit card, but i'm always worried i'm going to spend what i don't have and owe money back. With paper, you can't spend what you don't have. Banks get on my nerves. Sometimes after putting a check into the bank, it won't clear until a certain amount of time and sometimes it will, so sometimes you try to use your card and it declines because they haven't made the funds usable yet and it gets frustrating. At my job we no longer get paychecks. We get the stubs and had to have direct deposit and i hate that. I'd much rather have cash than put it all in the bank. After this, it kind of made me want to stop putting most of my money in the bank. I do and i don't trust my bank with my money. Banks are a good thing in some cases because you can pay your bills on line and that makes it so much easier on a lot of people. I think we just need to be careful with our money and with banks.
Kiara Tayolor(9:00)
I prefer plastic. It's easier to keep up with your money and there's a lot of money in your pocket it's kind of harder to get to, or to pay with. The whole no pay check thing is very stupid. Some people have to pay their rent in checks and having money on a different card wouldn't help with that. Isn't the whole reason we work because we have to pay bills? I don't think that if the economy goes bad we won't get our money. If a bank has to shut down I'm sure they will notify you and allow to get your money. I don't think the world should rely on just bank cards. Having cash handy does have advantages, such as vending machines. I think the option of using a bank and keeping some cash is perfect.
-- Heather Alber
I use my debit card all the time, I don’t really keep cash on me because if I do ill spend it on stupid stuff that I don’t need. I don’t trust the banks 100%, but you can’t live now days without a checking account. I’ve also heard that in a few years we will no longer have checks( I’m not sure if this is true, but that what I heard) so sooner or later everyone is going to have to switch over to plastic.
Brittney (10:00)
I like the bank, it's easier then cash all you have to do is swipe and go. Having money on you isnt safe people could just take it, but having a credit card if someone take it all you have to do is call and get your cards turned off. I always use my debit cards. I do think its stupid when someone swipe something for a dollar.
Kasha Topps
Never with all of my money. I do have a savings and checking account, but I also always have cash on me. I don't want to lose everything and just a day and be screwed forever until I make it all back. I know what you mean with the direct deposit being crazy too. My friend does it and it drives me crazy that she never has cash. Like when we go to the gas station for something small for like two dollars she has to use her card for it. Dumb. It is scary to think about having all your money just gone overnight but also people just don't have to worry about it if it's not in their house or in reach so they aren't as tempted to spend it. I can see both sides.
Kaylan
I pretty much trust banks but I dont keep all my money in their lol some in hiding around the house. But I dont think banks are a bad thing.
AshleyMitchell
I’m not sure which one I prefer but I almost always use plastic. I don’t think the banks would just shut down all the bank accounts. If everyone loses their money just like that, a lot of people are going to be pissed off and there would be trouble all over the country. If this were to happen, I think people would start doing things like burning down banks. I don’t care if people use cards or cash because that is not my decision of what some one else does. Most people don’t use cash and only use cards. I think I can trust a bank with my money but I never really think about it. I’d rather have all my money at a bank than at my house and have someone steal it when I’m gone or a fire burns it all. I have a debit and credit card and use them both for every purchase I make. I never have any cash on me. If I want cash, I just use my debit card at the ATM and withdrawal how much I want. Because of the ATM’s, no one is ever forced to not have any cash.
Jesse Naive (9:00)
I trust banks to a certain point. I still carry cash on me, but I use my debit card more it is just easier. I do keep my money in the bank, but I am always checking my account when ever I do use my debit card, mistakes happen all the time. It is the easiest way to pay your bills using the online banking. But I do still like paper more.
Anita Freeman
I prefer paper because I can see it in my hand oppose to just holding a plastic card. It’s just easier to hand a cashier money than a credit card. They have to scan it then wait for the receipt. Then you have to sign the receipt. Sometimes my debit card won’t work because its old. Then I have to find some money to pay for gas. I’d much rather use paper than plastic.
Nolan
I think the fast paste life and world running on cars are over rated. I agree with you on most part, Because I dont trust banks either and I like to spend cash. Banks are just out there to make their benefits from the account holders which are the people. when people go bankrupt the bank takes care of all the left out bills and that money goes from the interests they take off of peoples money.
Neli Aryani (10:00)
I have not had to deal with banks much, but i go to a common bank that has been around for years i trust that it will not go out of business since there is plenty around and been open for awhile. i would rather have them hold my money then worry bout keeping track of it. Also with debit cards if they are stolen u can cancel that and not have someone take all your money someone steals your wallet with money your out that much!
Lindsey (9:00)
Well I do think the plastic is good but we always will need some type of hard cash to back it up. I sometimes get into the habit of spending too much on my debit card because you just swipe and your food is paid for. I think its not real money, their was no cash paid... even though it is and it gets me into trouble. I think the banks do keep your money safe and we will always need them. The plastic is nice and we will always need that but also have to have hard cash to back up everything.
K.J. Picard (9:00)
I think that having a debit card is a good thing, cause it allows a person to be able to use their money without having to carry around cash all the time. But, then also I think that it should be the persons choice weather they carry a card or not. I agree with Jessica that I do not want the banks to have total control over my money. If they shut down then all of my money that I worked hard for is gone and it is not even my fault. Thats how people went broke during the great depression. They had all their money in the stock market and banks. Then when the banks shut down, there went all their money. I think eventually there will be away for someone to never carry cash with them but hopefully that is the time when we don't have to worry about the banks closing and our money being taken away.
Jake Oltean 10:00
I like using credit cards more than using cash. It is a lot more convenient to carry a credit card around than lots of cash. I do think that if you use cash you are less likely to spend lots of money like people do when using credit cards.
Jessica Brooks
I want to see it, touch it, smell it, and spend it. I truely believe too much can go wrong if I souly rely on electronics. I also have trust issues and I want to know that nothing is going to happen with the money that I work hard for. I want to know that when an emergency occurs that I have it right then and there.
Autumn
Personally, I'd prefer a check. But between a credit card and cash I'd choose cash.. it's very simple. I think people use banks because banks are generally more organized than most people, seem safer, and honestly because people don't trust themselves to not spend their money or lose it.
Jed Ten o'clock
It's really very complex in this active life to listen news on Television, therefore I just use web for that reason, and take the most recent news.
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