It’s important to know how things worked before, so then if we know how they work, we could change it or leave it the way it is. Sometimes what worked back then doesn’t work now.
Money orders & pre-paid cards are the payment types that require you to pay upfront.
These types of payment method require that you pay upfront and get a check which is available in banks, retails stores etc.
A paper document used to make payment, similar to check is known as Money order. It is only issued when after buyer pay cash or other forms of guaranteed fund because they are prepaid.
The people that often used money orders do not have standard checking account, money orders is acceptable and can be converted to cash.
This method of payment is acceptable and is mostly used for paying debts, and it can be purchased from financial institution for a small fee. Some of the places where money orders are sold include post offices, grocery stores, and gas stations. This makes it easy for anyone to purchase.
Pre-paid cards are often called everyday cards. It is plastics and an alternative to carrying money around. When you purchase prepaid, you load it with money and top it up when balance goes down. They are not like credit card where you run debts on. It is also ideal for those who have no bank account because this type of payment method is not linked to a bank account.
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KEYWORDS:
- money orders
- pay upfront
- pre-paid cards
After having relative prosperity during the second half of the 20th century until the fall of the Soviet Union in 1991. Citizens from Russia experimented relative economic hardship during the rest of the 90s. The government led by Boris Yeltsin was not successful in the transition of the economic model from socialism to open market capitalism.
Then came Vladimir Putin at the beginning of the 21st century. Under his regime, the Russian economy experimented a sustained growth due to the rising prices of oil. Industries like production, construction, real estate, and financial services all grew.
As a consequence of the improvement of the economy, the middle class grew as well as their income. GDP per capita (the amount of money the average Russian gains over a year) sharply rose since the beginning of Putin's regime and is barely reaching $12000 in 2017.
However, the country still fails to score positively in regarding corruption levels and freedom of speech. As the government is constantly accused of suppressing political opposition.
This leads to describing the standard of living of the average Russian citizen as constantly improving in economic terms, but still lacking the guarantee of security and freedom of speech.
