Sometimes it is not possible to use cash or a check. In such cases, you can use a credit card or one of several methods of electronic payment. These methods are especially useful when you shop online.
Some companies offer money transfer services to send money immediately from your account to the seller. There is usually a fee for the service.
Some sellers let you pay the cost in several parts. You set up automatic payments that transfer a set amount of money from your account at specific times. You usually pay a fee for spreading out the payments.
Automatic payments are also useful for bills that occur regularly.
Write the letter of the statements to show the advantages and disadvantages of each method of payment. A statement can go in more than one place.
A. Useful for monthly bile
B. Can buy now and pay later
C. May have to pay a fee or interest
D. Convenient and easy to carry around
E. May forget that a payment will be made
F. Fast way to send money
G. May owe more money than I can pay back
H. Need to have enough in my account
1. Could be stolen
Advantages
Disadvantages
Credit Card
Money
Transfer
Automatic
Payments
Credit Card
Advantages:
B. Can buy now and pay later
D. Convenient and easy to carry around
Disadvantages:
C. May have to pay a fee or interest
G. May owe more money than I can pay back
1. Could be stolen
Money Transfer
Advantages:
F. Fast way to send money
Disadvantages:
C. May have to pay a fee or interest
H. Need to have enough in my account
Automatic Payments
Advantages:
A. Useful for monthly bills
Disadvantages:
E. May forget that a payment will be made
C. May have to pay a fee or interest