I had a conversation with my coworker last week about a check ordering mishap she’d been through. Apparently she ordered checks through her bank back in March and they never showed up so she had the bank order another batch. Two days later she received two sets of identical checks.
She asked if we had a shredder anywhere at work. We don’t since we use a shredding company for confidential documents. At that she said she’d just have to spend several hours later that evening cutting up the duplicate set of checks. I asked her how much the checks cost, she said either $12 or $25.
Then I suggested she just use all the checks. She was aghast at the idea. She isn’t a business, I told her and asked how long it would take for her to use the checks. She said about three months. Three months! Good grief!
She also doesn’t use any form of electronic bookkeeping, and I think she’s said in the past that she hasn’t balanced her checking account for years. I don’t see any reason why she can’t use the second duplicate set of checks, except for the fact that the bank statements might point out that these are duplicate check numbers. If she owned a business she could never get away with that, but she’s not.
So let’s say she gets 200 checks for $12.00. That’s six cents a check. Most of the companies she pays probably provide an envelope, so no cost there. But each stamp costs $0.42. The checks last about three months. So she is spending every three months, about $96.00 on bill paying. If the checks cost $25, her cost goes up to $109. She emails her sister regularly, she surfs the ‘net, she just learned how to send text messages, she uses Microsoft Word and can do a little in Excel. I think she’s Internet savvy enough to pay her bills online.
That would save her ~$400 a year in bill paying expenses. Can you imagine spending that much?