I%26#039;ll admit I am not that great with money. But seriously, I don%26#039;t need the overdraft fees and such. Maintenance fees for not having a ton of money in my account, etc. What if I just got my direct deposit put in the bank, withdrew it out, and that was it? Banks have almost non-existent interest rates, and don%26#039;t care about the consumer. I have a right mind to buy one of those fireproof cash boxes and keep my money in there.
Are Banks Really Necessary?credit union
I know what you mean. Banks are a pain but more or less a necessary evil. Having a bank account is almost a necessity for paying large bills and establishing credit, which you will need for major purchases like buying a car or house. Not to say it%26#039;s impossible to do anything without a bank account, but it sure makes everything harder. If the credit bureau reports show that you have $0 in the bank, that could affect even smaller things like being able to rent an apartment. A fireproof box will protect your cash from being damaged in event of a catastrophe, but it can%26#039;t save it from a thief. It%26#039;s a good idea to keep some cash on hand in case of power failures and so on, when ATM%26#039;s might not work, but other than that, in this day and age, it makes more sense to use a bank.
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