So, now that my 18 year old son has a job and is getting regular paychecks, he needs a plan for his money other than keeping all of it in Mason jars in his room.
He has always been the frugal type, saving any birthday or Christmas money he gets and rarely spending it. There have been times when I have needed cash for one thing or another and I have had to borrow it from him. I would always write him a check or an IOU for him to stash in his jars.
The reality that he didn't have a bank account, just the jars, meant that the checks and IOUs piled up until one day he came to me with them in his hand and asked for me to give him the cash for everything I had borrowed. I ended up having to pay him back several hundred dollars!
He never saw the need for a bank account because he figured the jars served him well enough.
Until he got the job he has now at the local movie theater. Now that he is getting regular paychecks, he can't hand me those and ask me to exchange them for money. The time was long overdue for him to get a real bank account.
So, I did a little research online and I really liked what I saw at Chase Bank. They have some great perks like no monthly service fees with direct deposit, and mobile banking, which means you can download the app on your phone send money to another person, transfer money, check balances, and even deposit checks simply by taking a photo of the check!
While we were at Chase and my son was being helped, I noticed this large sign on the wall and was immediately interested in the words "CASH BACK."
So, as my son was talking to the lady helping him set up his account, I Googled "Chase Ultimate Rewards" to see what it was all about.
And I saw that it is a personalized rewards program available to Chase Freedom, Chase Sapphire, and Ink from Chase cardholders that allows you to earn points which you can redeem for rewards, like merchandise, gift cards, or even cash back.
Then, I got to thinking about how we had planned to pay for all of our extra Christmas expenses with my husband's year-end bonus from work, but how that bonus was coming at the YEAR-END and it was mighty tight right now before the year-end while I am buying a million and one Christmas gifts and Christmas decorations and Christmas party supplies.
And I thought how handy a credit card would be that gives me cash back for all the Christmas purchases I am making, which I could just pay off at the end of the month. And Ultimate Rewards makes it easy – you can earn cash back starting at $20 for 2,000 points and get it sent direct deposit into your bank account!
And that's right about the time when the lady who was helping my son informed him that his driver's license was expired and, unless he had another form of identification on him (she wouldn't count his library card), we would have to come back when he had it renewed.
Well, he didn't have another form of identification, and I needed to high-tail it back home to be there for our annual gingerbread house decorating party and sleepover for 15 girls which would be taking place pronto.
BECAUSE I'M CRAZY, THAT'S WHY.
Long story short: My son still doesn't have a bank account, but as soon as he gets his driver's license renewed, he will be going back to Chase to get that set up so he won't have to stuff his paychecks into Mason jars.
And I will be checking further into Chase Ultimate Rewards, which also offers extra incentives to cardholders during the holidays, helping you to stretch every dollar this season.
Then I will be taking a nap.