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2590819
Different Ways to Pay for Things
Description
This is a detailed mindmap about the ways people can pay for goods
No tags specified
economics
humanities
money
Mind Map by
donutspaceship
, updated more than 1 year ago
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Created by
donutspaceship
over 9 years ago
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Resource summary
Different Ways to Pay for Things
Credit Card
Pros
You can buy things you can't afford
Cons
You have to pay back the money with interest
Debit Card
Pros
You can only spend what money is available
It's easy to carry and use
Cons
If you spend it all there's no money for bills, etc.
You can't buy things you can't afford at that time
Paypal
Pros
Can buy things at anytime online
The money is secure
Cons
It takes three days to transfer payment
Bpay
Pros
Convenient way to pay your bills from home
Can be used at anytime
Cons
Fraud
Cheque
Pros
Easy to pay through mail
The money is secure, it can't be stolen
Cons
It can only be cashed in during bank hours
Cash
Pros
It is accepted anywhere
Can control your spending
Cons
If it's lost or stolen, it can't be retrieved
It's hard to carry large amounts
Paypass
Pros
It's very quick and easy to use
Cons
No pin is required to pay and it is easily stolen
Thieves can repetitively spend the victim's money
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