Learning how to save and spend are the cornerstones of building good financial sense. This is not always stuff that we learn in school, and sometimes we end up paying a high price for not learning it in time. If you’re trying to recover from bad debt and terrible credit, then you will need to reset your thinking on how you save and how you spend your money.
So let’s talk about spending for a minute. Unless you just decide to live out in the woods for the rest of your life, there is going to come a time where you really are going to have to spend money. You really are going to have to take care of business one way or the other, so you might as well make the right decisions from here on out. A good prepaid debt card can really offer a lot more benefits than you might assume at first.
A prepaid debit card will only let you spend the money that you put on it. There is no credit check, and there are no overdraft fees. This means that you have a tool that can help you think differently about the way you spend money. Over time, you’ll learn that if you don’t have the money, you won’t be able to get what you want. This may help you make better spending decisions and get out of the habit of having to spend everything that you have.
A prepaid debit card doesn’t come free, though. There will be either a monthly fee or a per-transaction charge. Generally speaking, many cards will let you go ahead and go fee-less if you spend a certain amount every month.
It’s been observed that these cards can help you get your paycheck up to 2 days sooner as well as your tax refund and/or government benefits. It’s just a matter of checking things out for yourself.
And if you’re going to check out prepaid debit cards, you’re going to need to make sure that you look online. This is where most of the prepaid debit card are going to be offered anyway.
You will want to look at how much can be on the card at one time, as well as the daily spending limit. The ATM limit and the fees for using ATMs are also going to be important.
You may also have to pay a fee for loading your debit card every time you have cash — but you can get around this by choosing direct deposit. It’s just a matter of making sure that you read the finer details.
Not having to deal with the numerous fees that banks are charging is pushing more and more people into prepaid debit cards. Plus, if your card is ever lost or stolen, you still have the same type of protection that you’re used to when it comes to your bank account.
Check out prepaid debit cards today — they just make good financial sense!