Zettel 202311042121 : What Happens When You Get Paid, but the Money Can’t Hit Your Account?
We don’t usually expect our banks to delay our deposits due to technical errors.
Here’s another reason to have enough money saved up to pay for expenses should you have a lapse with income. We usually think of this in terms of unemployment. But, we should also consider outages due to technical bugs and denial of service attacks on our financial institutions. Or having enough cash on hand during a climate disaster like a hurricane. No power? Then no electronic transactions like debit cards or ATMs. I remember this first hand from living through a hurricane once.
I need to prepare this and other things. And teach my kids about this, too.
November 4, 2023 projects preparation preparedness area resources banks ach money finance deposits delay