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Ways To Pay :moneybag: Madi, Rivkah, Sophie-Maree (Direct Debit (An…

- - - - Advantages
        
        a convenient way to pay for houshold services
        
        can be paid regularly automatically
        
        they prevent you from running up big balances and interest charges on credit cards
      - Disavantages
        
        amounts paid may not always be the same
        
        security of transactions is a big issue, your account information might get hacked by unauthorized people over the internet
        
        you need to have sufficient funds in your account to cover
- - - - Advantages:
        
        You can pay someone whenever you want
        
        Online account is simple to open and easy to operate.
        
        You don't have to physically go up to the person and give them money
      - Disadvantages:
        
        You cannot have access if you don’t have an internet
        
        You cannot use it, in case, the bank’s server is down
        
        The money could get lost. You could get hacked and lose the money.
- - - - Disadvantages
        
        can be set up in a matter of minutes. But stopping them can be much more difficult.
        
        Some companies will charge you a fee
        
        With automatic payment plans, it can be easy to forget what gets paid each month
      - Advantages
        
        By eliminating paper bills and check writing
        
        By setting all your bills to be paid automatically, you’re not as pressured to keep track of what needs to be paid
        
        no longer have to pay for checks, or gas for trips to the post office, having your bills paid automatically saves you money too
- - - - Advantages
        
        a credit card can be used as a convenient way to check and record your spending
        
        many credit card companies offer low introductory interest rates
        
        wider acceptance and recognition, especially in online transactions
      - Disadvantages
        
        When you run out of money on your card and don't have cash your stuck
        
        applying for multiple accounts can lower your credit score
        
        interest can be costly when a balance is revolved
- - - - you don't have to use a pin number
      - if forget your card will always have your phone so that means you always have money though apple pay
      - Its quick
    - - you can only allow to spend up to 80 dollars
      - people can use your card because their is no pin number
      - you dont need to put a pin number
- - - - Disadvantages
        
        Hire purchase system creates artificial demand for the product. The buyer is tempted to purchase the products, even if he does not need or afford to buy the product
        
        The seller runs a heavy risk under such system, though he has the right to take back the articles from the defaulting customers. The second hand goods fetch little price.
        
        A buyer has to pay higher price for the article purchased which includes cost plus interest. The rate of interest is quite high
      - Advantages
        
        The goods are delivered in the possession of the purchaser at the time of commencement of the agreement
        
        The hire-purchaser has a right to use the goods as a bailer.
        
        The price under hire-purchase system is paid in instalments