Keeping Records Of Your Finances
I haven’t been inside of a bank for ages, months and maybe getting on for a year. I was quite shocked, when I thought about this today. Everything I do with money is electronic and digital. I did write a cheque a little while back to pay a friend some money but that was the exception that proves the rule. Life is becoming digital.
More and more stores are no longer accepting cheques so you’ll need to carry a credit card or bank debit card. Money appears, almost like magic, out of a hole in the wall. They used to say it doesn’t grow on trees but they never thought it would come out of walls.
This all makes financial dealings easier to do but sometimes harder to keep track of especially if you have an online bank account. You may know where to go to find everything online but what would happen if something bad happened to you? If you were injured or became ill and had to spend time in hospital what would you do then? You can hardly phone a neighbour and give them all your bank details to make sure everything is in order.
What would happen if you died? Would your partner/relatives be able to find their way through the maze of the internet to find where you banked and who to contact about your various accounts?
As we become more digitised we have fewer bits of paper around that could be found by those we leave behind and it becomes all the more important that we organise our financial matters and ensure that if something were to happen to us then our families wouldn’t fail to discover where all our assets were.
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Yeah, it’s mind boggling to think about how much has changed with money – even in the last 5 years or so. Not very long ago at all the only ways to be paid were by check, cash, or possibly credit card. We need to teach our kids money management though, and it’s going to be harder and harder when they don’t see anything but numbers on a receipt or an online statement.