Advantages & Disadvantages Of different methods of payment

check

credit card

debit

January 1, 2020

Maria Sanchez

One thousand six hundred & no cents

1,600

electronic payment (on the computer)

Your First Boss

•advantages -keep a record of money spent -safe way to make sure money goes to exact place of payment -harder to steal money

•disadvantages -may not be accepted at all stores -takes time to fill out -you may spend more than you have Bank fees for going over limit

•advantages -fast and easy -keep a record of money spent -accepted most places -it is like borrowed money or a loan

•disadvantages

-you have to pay more than what you spent (interest) -can spend more than you really have -can be called to court if you have not paid in a timely manner

•advantages -fast and easy -keep a record of money spent -accepted most places -works like an electronic check

•disadvantages -must keep track of your account or else you’ll be rejected at payout -if electronics aren’t working, you may have to use cash or check

•advantages -fast and easy -keep a record of money spent -can shop/buy/pay from any electronic device including your phone -can pay at any time

•disadvantages -must have internet access -must use secure & safe sites

Cash: can you think of advantages & disadvantages of using cash?