Good Lifestyle

Even if you have a current account, your physical checkbook has probably collects dust for some time. Technology has done credit card And debit cards The most likely alternative to cash payment. In many cases, the only references to the checks you can see are the panels published by the stores warning customers they do not accept them. But while checks can be less commonly used than they were in the past, there are still a few cases where they are always useful. Read more to discover when you should always pay by check, according to financial experts.

Read this then: Never use automatically for these 6 invoices, according to financial experts .

Regardless of the work line in which you are, you can count on correspondence with the IRS at least once a year on the quantity you need in taxes. But when the time comes to pay your contributions, the use of a check has a surprising advantage over other apparently practical methods.

"Regarding the IRS or any other tax authority, the burden of tax evidence is on the taxpayer", " Jeffrey Stouffer , A expert in finance and a certified financial planner with Justanswer, says Better life . "Office errors and data data on the poor account may be the cause of receiving a request for evidence. A copy of a check that has the tax description written in the memo section with approval on the back of Check by the tax agency put an end to this question. "

Paying with a card often looks like a practical option, but it can have a price. This is why experts say that you should be looking for opportunities where your checkbook is seized can save you some money.

"It may be logical to pay with a check in several circumstances, especially if it allows you to save yourself in costs or if you get a discount," explains Robert Farrington , founder of The college investor . "For example, many money transfer applications and services charge fees, but if you pay with a check, you can avoid this." AE0FCC31AE342FD3A1346EBB1F342FCB

This can be particularly useful with one of your most important monthly payments. "Some owners will prefer that you pay with a check for your rent to avoid treatment costs, or you, because the tenant could also avoid costs," he said. "In addition, small service companies might prefer checks in relation to credit card processing costs. You may even get a discount if you ask!"

Read this then: Never use your debit card for these 6 purchases, according to financial experts .

For many people, the implementation of a recurring transfer for the large monthly payments that you make for a loan can be an easy way to stay on time. However, you may want to consider cutting a check instead to make sure things are not complicated.

"Housing and loan payments will certainly be useful for having copies of erased checks for reasons similar to your taxes, especially if the lender is a private party," explains Stouffer. "The irrefutable proof of payment will answer all the questions they might have."

If you have found a business that is ready to give up costs or provide a discount so as not to use a credit card, this does not necessarily mean that you should pay in cash. Thanks to a less known service, you can easily make a payment without scanning, even if you are not on site with your checkbook.

"Most online payment systems based on the bank will send a paper check at no additional cost for suppliers you need to pay," said Farrington. "You simply enter their information and the bank will send them a check", adding this can be particularly useful when making larger purchases such as devices, building materials or an important deposit.

For more financial advice delivered directly in your reception box, Register for our daily newsletter .

Having regular outgoing payment as part of a structured prosecution can be an addition inducing stress to your monthly budget. But experts say that the choice to pay with a check can help relieve part of the potential confusion that can support them.

"Unfortunately, some people meet events and find themselves in court. If a payment was to settle such an event, a copy of a check approved with the settlement agreement will show that the file is closed and nothing more should be Made "," said Stouffer.

"And with the electronic bank today, sometimes only a line entry on a bank statement will contain enough information to draw the data from the beneficiary of an image is not provided," he explains. "Keep these statements for the same purpose as taxes and loans: proof of payment."

Best Life offers the most up -to -date financial information for the best experts and the latest news and research, but our content is not supposed to replace professional advice. Regarding the money you spend, save or invest, always consult your financial advisor directly.