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To Bank or Not to Bank...

October 22, 2013

I am a 40 year old, full time, insured employee; and I don't have a bank account.  *insert your gasp here* I never intentionally went into my decision as 'sticking it to the man'.  I made poor life decisions as a college student and I owe people money.  Not a lot of money but enough that it never made sense to pay fees on money in an account that wasn't going to stay there long.  I tried to make it on a -pay- in cash -only life style.  That worked for awhile until I was closing the bar at 2am and The City of Tallahassee Utilities needed their money so I could stay accustomed to my electricity and indoor plumbing.  And then gas prices went up.  And some companies didn't take cash.  I hate paying bills.  I didn't say I don't pay them.  I hate giving them my money and I was making it even more difficult on myself driving all over town attempting to pay them in a somewhat timely fashion.

 

I had always seen pre-paid money cards and knew of direct deposit but I never knew you could put direct deposit on your pre-paid card.  Life changing.

I was finally attempting to shift into adulthood and this card was my key.  I now had a budget.  I could now see what I was spending and on what.  I could check my balance every morning.  I could set up automatic withdrawals.  I finally had accountability.  And it was awesome.  You are probably curious as to how much it cost me to get all this started?  Nothing.  Not a red cent.  The card was free and there are no monthly fees.  None.  I had no excuse as to why a bill was late.  It was no longer lost in the mail.  Now, if it was late, it was simply because it had not been paid.

 

Small things started happening.  My student loan in Kentucky was getting paid off slowly but surely every month.  I was relinquished from my garnishment and lo and behold my credit was improving.  I no longer feared the phone ringing.  In fact, after I started taking control of my finances, my phone hardly rings at all.  I understand that people do this with a bank account on a daily basis.  However, for me, this pre-paid card was the route that was available for my circumstances and I am truly grateful.

 

D. Tish

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