As a single mom, you are constantly battling to maintain that balance between work, home, kids, and life. One area where you could save yourself a little bit of time and energy is the area of banking. Online banking can make many of your financial commitments much easier to handle.
With online banking, you can pay your bills anywhere you have a secure Internet connection: at work on your lunch break, at home in those few hours between the kids’ bedtime and yours, or even at the local library. Simply log onto your bank’s web page and schedule the bills to be paid. You can do it all at the beginning of the month, timing the payments so they are sent when you need them to be and when the funds are in place to pay the bill, but saving time by not having you continually long on to pay those bills.
When you bank online, you can check account balances no matter what time of day it is. Do you need to make sure there is enough money to cover the check you wrote at your child’s day care? It doesn’t matter if the bank is closed, you can check your account balance at midnight before you go to bed, and then make necessary adjustments in the morning before the check has had a chance to clear. If you have more than one account online, you can even make adjustments by transferring money from one account to the other outside of banking hours.
Tracking payments is also possible with online banking. You can see exactly when a particular payment clears, see the amount of a transaction if you no longer have the receipt, and monitor any transactions you did not authorize, all without physically going to the bank. This again saves time, but it can also save money by preventing you from overdrawing your checking account or making another financially damaging mistake.
If you have not yet embraced online banking, start with your existing bank and see what they offer. Most major banks have online banking, but look for one with free services and online bill paying options. If your bank does not offer these services, consider looking for another one that does so you can get the most out of online banking. You will even find some banks that operate entirely online, which is another consideration as you make your choice.
For more information please visit www.singlemomfinancialhelp.com/