184 Unit 2 Managing Your Finances
and Moneydance. Also, many banks and brokerage fi rms offer their own
personal fi nance programs for customers to download free of charge.
These programs can make managing your fi nances and keeping
important records much easier. While each program has unique features,
most of them allow you to do the following:
•
access bank and brokerage accounts
•
pay bills online
•
balance your bank statements
•
set up a personal budget based on your income, goals, and expenses
•
keep a detailed record of spending
•
keep detailed tax records
•
plan ahead for major expenditures
•
access money management and investment information from reliable
sources
•
transfer funds from one account to another
Webmasters
Webmasters develop
Web sites for fi nancial
institutions that deliver
services of the institution,
such as online bill
payment and 24-hour
banking services. They
also make fi nancial sites
secure for online banking.
Case Study: Using Dollars and Sense
What About Online Banking?
For her birthday, Alyssa received a new computer that was faster and
performed more functions than her old one. She was eager to experiment
with all the new things she could do. Alyssa had a checking account at a local
bank. She wanted to pay her bills and track her account from home.
Alyssa visited her bank’s Web site to research its online services. Then
she signed up for the service. After selecting her user ID and security code,
she accessed her account online.
Alyssa directed her rent and insurance premiums to be paid online. She
would pay her other bills as she received them. Alyssa also decided to have
her paycheck deposited directly to her account. All in all, Alyssa felt she had
gained new control over her fi nancial affairs.
Case Review
1. Would you conduct your fi nancial business online?
2. What questions would you ask before signing up for online banking services?
3. What are some of the advantages of online banking? Can you identify any
disadvantages?