Mar 7th, 2009
How Much is Not Using Technology Costing Us?
Today is Friday. Friday is usually the day that my coworker and I go to the bank. The trip is mostly for her, because she insists on paying her bills by check, in person. I occasionally have checks to deposit–my part time job had so many problems with payroll they are no longer able to do direct deposit–and sometimes I have to move money between savings and checking to cover bills I’m paying (although I certainly have the option of doing the transfers electronically). She, on the other hand, goes in person weekly.
Fortunately, the banks she goes to are relatively close to her house, but this requires about a half hour of time and a drive about a mile out of the way every week.
I’m not sure why she insists on not using electronic bill pay–or the U.S. mail for that matter–but I do know that if time is the most precious commodity there is, she is (and by extension I am also) losing about 1/2 hour a week to this process, and that doesn’t count the time she spends actually writing out the checks. If she used the U.S. mail, it would cost her a little (like stamps) but at least it would save the bank trips. Her main point is this way she is 100% sure that her bills are paid. I realize that there are occasionally hangups with electronic bill pay as well as the postal service, but by and large both are quite reliable.
How much time–and therefore money–is not using technology costing her (and therefore me)? I’m not sure yet, but I know it’s substantial.
[...] Suenaga presents How Much is Not Using Technology Costing Us? posted at Uncommon [...]
Internet banking, Bill Pay and direct deposit are the only way to live.
I used to hate writing out checks and balancing my checkbook twice a month. Then, I would have to go to the post office to mail the checks and the stamp machine would always be broken.
It wasn’t only the time, it was the hassle.