2million - My Journey to Financial Freedom

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Friday, June 09, 2006

Cheap Low Hassle Checks

I hate checks. Checks are expensive, I usually have to use a stamp to give someone a check, and they are a hassle to use. If I need to pay someone I always try to pay with a credit card (when no extra fees), make an electronic transfer (for bills), or use my bank's free online billpay service. If all else falls I then have to break out the checkbook.

Unfortunately I have finally come down to the last check in my checkbook. Since I will be renting a place on my temporary assignment I know I will need to be able to write checks for security deposit and/or rent each month. I need to order at least a small quantity of checks to hold me over.

My bank charges for checks and I am not going to pay the bank's prices. The checkbook has a reorder form (I believe I ordered the last batch from a 3rd party) in which the cheapest option is for 1 box of 200 checks for $8.90 + $1.60 = $10.50 for 200 checks.

I then scoured the internet and was surprised to find walmartchecks.com. I was able to order 1 box for $5.96 + $1.90 (shipping) + $0.55 (tax) = $8.41 for 240 checks. By far the cheapest/with least hassle option I found. Who knew Wal*mart sells checks?

Based on my previous consumption rates, these checks should last me for at least 5 years.

11 Comments:

  • Very cool! But why don't you use your bank or credit union's bill pay option? We just put in the billing information and our bank prints, writes, PAYS FOR POSTAGE, and mails the check for us. Now THAT'S value.

    By Anonymous MoneyDummy, at 11:20 AM  

  • moneydummy: he just 'splained it. Would you use bill pay when you're at the desk/window of a utility or apartment complex and need to leave security deposit?

    By Anonymous Anonymous, at 4:40 PM  

  • I've always had GREAT success with costco's check printing service. you can find it here costco check printing.

    I'm not sure what current price is, but I remember paying $8.xx for 300 checks with carbonless duplicates. I was very pleased. I'll have to check out walmart, too.

    Regards,
    makingourway
    www.makingourwayblog.com

    By Blogger makingourway, at 5:28 PM  

  • I do not know much about checks but I do use it. Let me be very frank, most people use money without actually knowing what money is. It is exactly 3 things :-

    (1) A store of value
    (2) A medium of exchange
    (3) A measure of value

    Which one of these 3 functions do money no longer perform and why ?

    The simple answer is money is no longer a store of value when the US government decided to free float the US dollar. The US dollar currently has no value if you were to take your US dollar to exchange, the US government will just give you more US dollar for your US dollar.

    This is the resaon the World is experiencing the greatest inflation it has ever felt, but instead of a country wide inflation like in Italy or Germany or even France when they first started printing paper money (I think that was in the 16th or 17th century) we are having a global inflation. Printing paper that has no value on it is dangerous, printing paper that we use for World trade is like "suicide" for the World economy but the US is doing that exactly committing suicide for the World economy by printing more money than the World needs, thats whats causing commodity prices around the World to increase at such an obscene rate.

    Think about it.

    Anonymous Millionaire.

    P/S Check your facts and figures you will get the same conclusion sooner or later.

    By Anonymous Anonymous, at 2:00 AM  

  • If you are a preferred account holder (e.g. Advantage Account at Bank of America (BOA)) then getting checks is free. All you need to become Advantage customer is to have minm. $5000 combined in all your BOA accounts. I electronically move money into the BOA account, become Advantage by calling their customer service, Order checks online, then move my money back.

    By Blogger drdomore, at 11:55 PM  

  • I stay away from the "Crown" level at the bank I use (Wachovia) because they charge fees if you don't keep the minimum balances. I am all for getting the perks, but when you start to have to pay for them they quickly lose their value.

    By Blogger 2million, at 10:08 AM  

  • Anonymous Millionaire,

    I thought you recently said you were all cash - seems to be a bad idea given the inflation your talking about.....

    By Blogger 2million, at 10:09 AM  

  • Keep certain prime properties that you will know will appreciate,eg. centre of London, Ginza in Tokyo, financial district in New York, Orchard Road in Singapore, etc.

    However all these properties should be fully paid up just in case the rental rates fall or if the interest rates sky rocket.

    You should also have an emergency CASH reserve in case you lose your job or if you cannot collect your rental. In other words your tenants run away (even if you have 2 months deposit, they can drag by not paying you for three months and run up the utility bills), this can happen. You would still have to service the loan.

    Anonymous Millionaire.

    P/S I have a large CASH reserve currently and all my properties are fully paid up in CASH. And non-prime area properties I am trying to get rid of it.

    By Anonymous Anonymous, at 2:42 AM  

  • i get free checks at bank of america for both personal and biz checking. closed my savings account though. you need to keep a 300 minimum that nets you .45%

    By Blogger Empty Spaces Inc., at 2:55 AM  

  • Yep, buying from the bank can be super expensive. I buy my checks online too and I found this great website with coupons for major discounts for cheap checks here.

    By Blogger Amanda, at 1:29 PM  

  • The check printer with the lowest cost checks is always changing online. Cheapochecks.com checks all other sites each week and lets you know where to buy the cheapest checks:)

    By Blogger Jason Kay, at 2:22 AM  

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