Amazon created a concrete shortage

   / Amazon created a concrete shortage #161  
I have noticed many posts about their banks providing checks free.

Do that many of you still use checks?
Nope. Almost everything is now electronic for us.

One of our kids is 24 years old. She's had a checking account since high school. She wrote her first check ever about 2 weeks ago.
 
   / Amazon created a concrete shortage #162  
Nope. Almost everything is now electronic for us.

One of our kids is 24 years old. She's had a checking account since high school. She wrote her first check ever about 2 weeks ago.

I haven't even stepped foot in a bank in years.
 
   / Amazon created a concrete shortage #163  
One thing I will say is after a Bank of America flub on a large deposit I made I will never be without 2 different bank accounts at 2 different Banks. Basically the Teller at BOA took the Check Deposit for $29k, a boat I sold, and not only held those funds but held all funds. I was in the middle of Missouri with no cash and only the BOA Account. After an hour or so on the phone and finally getting someone that could help me, they took the hold off my account. Never again, I now have 2 checking accounts with Debit cards at 2 different Banks. You talk about a horrible feeling with no funds available to you. I also make sure I have cash now when I travel also, you never know.
 
   / Amazon created a concrete shortage #164  
We seldom have a problem with Amazon delivering orders on time. In fact, lately, it has been the opposite. I have told them to deliver a day or so later, on a Monday instead of Sunday, yet the truck shows up on Sunday. :eek:

One does have to be careful when ordering to make sure one is buying from Amazon and not another company using Amazon. That can delay an order big time.

When we built our house almost 15ish years ago, there was a world wide concrete shortage because China was buying up all of the concrete, supposedly for the Olympics but they seem to have also built large underground facilities for their ICBMs amount other things. We had to wait for our allocation to built our home which is on a slab.

The USPS is so bad in my parents area, I wish Amazon would start delivering packages. Our USPS is pretty good but my parents and other family members have horrible service.
Our area is growing by leaps and bound, has been for decades, and will continue to do so in the future. Even in 2008, growth continued. Our area is not in a bubble, there is simply too many people looking for not enough housing which is driving up rents and house prices. Given the shortage of construction workers, many left the trades because of 2008, I don't see the housing shortage solved anytime soon. That and the cost of materials.

I have heard of people who sold their house for a huge profit, moved into a rental and are waiting for a downturn in pricing to buy a house again. I think that will work in some markets but not in others. I think that would be a hugely fatal financial mistake in my area. Now, sell in our market and move else where might be a smart move. :D

Later,
Dan
 
   / Amazon created a concrete shortage #166  
My last bank account was in 1978. Since then, only an S&L, followed by my current credit union. Thinking back, I don't recall paying a banking fee for anything in 43 years. No mortgage points or loan fees, no account fees, no charge for running coins through the coin sorter, no ATM fees, nothing.
 
   / Amazon created a concrete shortage #167  
I quit using a bank and moved my financial business to a credit union: free checking, no account maintenance fees, and rock bottom loan rates. Also, they are so good to deal with: no hassle loans and great personal service.
Don't most credit unions require you to be employed in a certain industry or profession or are they open to everyone these days?
I have noticed many posts about their banks providing checks free.

Do that many of you still use checks?
I do. I don't have all that many bills, and it's not that big a deal. I like getting a paper copy of a bill so I can review it before paying. I have a tendency not to look as closely at an e-bill. Absolutely no auto-pay!!
Not real comfortable giving a company access to my account. Hacks happen, not often but they do.
Some places charge a fee to pay electronically.
 
   / Amazon created a concrete shortage #168  
Don't most credit unions require you to be employed in a certain industry or profession or are they open to everyone these days?

I do. I don't have all that many bills, and it's not that big a deal. I like getting a paper copy of a bill so I can review it before paying. I have a tendency not to look as closely at an e-bill. Absolutely no auto-pay!!
Not real comfortable giving a company access to my account. Hacks happen, not often but they do.
Some places charge a fee to pay electronically.
It used to be that credit unions were restricted membership as you said. The one I being to is a federal credit union that used to be strictly for federal employees when I joined. But now they have opened membership to anyone who lives in the community. All it takes to be a member is to open a savings account with $50.
 
   / Amazon created a concrete shortage #169  
Don't most credit unions require you to be employed in a certain industry or profession or are they open to everyone these days?

I do. I don't have all that many bills, and it's not that big a deal. I like getting a paper copy of a bill so I can review it before paying. I have a tendency not to look as closely at an e-bill. Absolutely no auto-pay!!
Not real comfortable giving a company access to my account. Hacks happen, not often but they do.
Some places charge a fee to pay electronically.
Membership depends on the credit union. There are employee credit unions and community credit unions.

My credit union offers free online bill paying. I log on once a month and send payment electronically, but nobody has access to my accounts but me. It saves me a stamp.
 
   / Amazon created a concrete shortage #170  
One thing I will say is after a Bank of America flub on a large deposit I made I will never be without 2 different bank accounts at 2 different Banks. Basically the Teller at BOA took the Check Deposit for $29k, a boat I sold, and not only held those funds but held all funds. I was in the middle of Missouri with no cash and only the BOA Account. After an hour or so on the phone and finally getting someone that could help me, they took the hold off my account. Never again, I now have 2 checking accounts with Debit cards at 2 different Banks. You talk about a horrible feeling with no funds available to you. I also make sure I have cash now when I travel also, you never know.
I carry about $500 in cash when I travel. Don't usually touch it, and it goes back in the safe when we get home from vacation. But at least we have cash if we run into an issue with our bank account. Wife and I each have a credit card as well. Both cards are from different banking institutions.

If for some reason there is an issue with the checking account, we can get back home.
 
   / Amazon created a concrete shortage #171  
I carry about $500 in cash when I travel. Don't usually touch it, and it goes back in the safe when we get home from vacation. But at least we have cash if we run into an issue with our bank account. Wife and I each have a credit card as well. Both cards are from different banking institutions.

If for some reason there is an issue with the checking account, we can get back home.
Yes sir, after that BOA disaster we both got credit cards also. Pretty scary when you cant access your money
 
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   / Amazon created a concrete shortage #172  
I carry about $500 in cash when I travel. Don't usually touch it, and it goes back in the safe when we get home from vacation. But at least we have cash if we run into an issue with our bank account. Wife and I each have a credit card as well. Both cards are from different banking institutions.

If for some reason there is an issue with the checking account, we can get back home.
What is this cash thing that you speak of? 🤣
 
   / Amazon created a concrete shortage #174  
Yes sir, after that BOA disaster we both got credit cards also. Pretty scary when you cant access your money
Yup, I was working out of town and had some fraudulent charges go through. Bank shut down both of our debit cards.

Thankfully I had my company credit card for food. But man I didn't like that feeling.
 
   / Amazon created a concrete shortage #175  
Cash is the worst thing to have in an inflationary cycle. This is not going to be short-lived. It will be 3-5 years before it gets resolved.
 
   / Amazon created a concrete shortage #176  
I haven't even stepped foot in a bank in years.

My wife laughs about me going to the bank. I go in on purpose to use a real teller for deposits and withdrawals. I’m one of the rare ones that do anymore, but it’s nice to get great service on a first name basis. It feels better than tapping on a touchscreen.
 
   / Amazon created a concrete shortage #177  
It will be 3-5 years before it gets resolved.
Perfect, just in time for retirement. I keep a lot of cash on hand and no, not in the bank. I just feel better about putting my hands on something real instead of it being in someone else's hands. After my BOA issue I don't ever want that feeling again of not being able to eat or get gas or anything for that matter. The thought of someone being able to wipe out all of my funds with a simple key stroke scares the hell out of me. In my BOA case it was an untrained teller mistake but it could happen to anyone.
 
   / Amazon created a concrete shortage #178  
Cash is the worst thing to have in an inflationary cycle. This is not going to be short-lived. It will be 3-5 years before it gets resolved.
Cash is part of a prudently diverse portfolio, especially for those retired or about to retire.
 
   / Amazon created a concrete shortage #179  
Perfect, just in time for retirement. I keep a lot of cash on hand and no, not in the bank. I just feel better about putting my hands on something real instead of it being in someone else's hands. After my BOA issue I don't ever want that feeling again of not being able to eat or get gas or anything for that matter. The thought of someone being able to wipe out all of my funds with a simple key stroke scares the hell out of me. In my BOA case it was an untrained teller mistake but it could happen to anyone.
i was CFO at a medium size company until a few years ago and Wells Fargo did something similar. They mistakenly froze all our company accounts on a Friday evening. I caught wind of it when several employees tried to cash or deposit their payroll checks on Saturday morning at Wells Fargo branches and our checks were rejected. About 1200 payroll checks had been handed out on Friday. I rattled a lot of Wells manager & VP cages before they would correct their error on Saturday night, most said ”just wait until Monday“. Nope, I’d would have had a riot on my hands.
 
   / Amazon created a concrete shortage #180  
What is this cash thing that you speak of? 🤣
Wrong question. You should have asked what is this $500 thing? That is the minimum cash amount FEMA recommends you have on hand for disasters when there is no electricity. Without electricity there is no banking. Credit cards become cheesy windshield scrapers. Cash is your only fungible asset.
 

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