This is probably a dumb question...?

Question

How can you manage your financial affairs (bills, etc.) without having a bank account? I'm sick of the fees! I hate relying on a bank. Is there anyone out there that functions without a checking account?

Answer 1

Well, if you think about it, you're not relying in a bank, you're relying on yourself to manage your own personal finances. Believe me, i've had my share of financial problems. i.e. overdraft charges, payday loans, etc. What i've learned is you HAVE to take the time and sit down and come up with a budget. I know it's easier said than done, but, think of it this way..... it's not going to get better on it's own. Can you manage your money/bills w/o a bank acct? Of course you can. But, and i'm not trying to make you feel bad, if you're having fees with banks now, what makes you think you'll be able to be responsible enough to stick money aside for your bills as they come in? You're going to had this wad of money everytime you get paid. Can you handle that kind of self control?
There's a paperback book out there called The Budget Kit by Judy Lawerence. It'll run you about $14.00 at Barnes & Noble. That alone has helped me in a big way. Dedicate the time to read the book, do the few exercises, there's even very resourceful CD inside called; MyEnvelopes.
Try it out and best of luck to you! Mary

Answer 2

A bit difficult to get by without a checking account but with internet banking, you can usually use a savings account and pay on-line. You can always send cashier's checks (fee there, you know) to pay bills that don't accept on-line payments or have a local pay spot.

Perhaps you need to work at budgeting and making sure you have enough in your account so you don't get the fees - no overdrafts, minimum amount, etc.

Check out different banks and credit unions and see what their charges are. If necessary, change finanacial institution to one where they have what fits your needs more. I know there are
"fee-free" checking accounts, but then you usually don't get interest on them and may need to keep a bigger minimum balance.

Answer 3

You can get a metal cash/coin lock box (preferrably fire proof) to keep all your money in. They have them at Walmart, Meijer, ect... When you have bills you can go get money orders from just about anywhere to pay your bills. You could also pay all your monthly bills by credit card and just pay your credit card bill by money order each month so you don't pay interest. This would also save money since you would only be purchasing one money order a month instead of many. You can also cash your checks for a small fee at stores or for nothing if you know someone with a bank account who will cash your check for you at their bank.

Answer 4

I learned very early in life that if you cannot pay cash for something, you wait until you can. In 40 years I have never paid a penny in bank charges or fees - my account is always in credit. I have a credit card for use in car hire, air flights etc., on the Internet, but again I have never paid a penny in charges. As soon as the bill comes in I pay it all off. I reckon by being sensible early in life, I have saved an enormous sum of money...............

Answer 5

Credit Unions usually are Much better in limiting the number of fees member get stuck with.

Answer 6

It is a bit more difficult but yes, you can get along without a bank.

Answer 7

You shout use software Money Manager Ex on sf.net you can manage your financial.