Question

Identify two methods a person can use to pay their bills online. Explain the advantages and disadvantages of both methods.

Answer 1

1) You can pay your bills online using your debit, credit card, or an electronic check. Advantage: you pay when you want and when you are sure you have money in the bank. Disadvantage: you have to remember to pay the bills by the due date.

2) You can set up automatic withdrawal from your bank account to pay your bills. Advantage: once you set it up, you do not have to remember to pay the monthly bills. Disadvantage: if you do not check your checking account balance to be sure there is enough money to cover the bills, your account may go negative.

Hope this helps! :)