Finance – A New Way to Say “Bill Me Later”

Life is unpredictable and ending up in a difficult financial situation due to circumstances beyond our control is not only possible, but very likely to happen to anyone, sooner or later.

This is not to say that we are not responsible for what happens to us; in fact, we are very much the makers of our fortunes and misfortunes, but there are situations that are simply unavoidable, despite how hard we try to keep ourselves on the right path. Falling ill, for example, or losing a job due a sudden economic downturn, or simply making a human mistake cannot be foreseen or prevented despite our best efforts and wishes.

What is Bill Me Later?

Bill Me Later is an online finance/credit company. At the billmelater.com website you can find:

Online Shopping

Exclusive offers

Directory of Online Store Affiliates

Shopping Blog

With Bill Me Later, you can shop through their affiliates and get a 90-day grace period on charges without interests, penalties or late fees, as long as your bill is paid within 90 days.

You’ll receive a statement monthly after each purchase. The first two will show a minimum balance of zero, which means that you don’t have to make a payment now. Your statement will also show you accruing interest but that will only be applied (retroactively) if you don’t pay within 90 days.

The simple answer was to create a “Note”. Basically a Country or Company would write an IOU which was supposed to be backed by the Real Money (Gold or Silver) being held in a Reserve or Bank. Without the backing of real money the IOU or “Note” was worthless. At the end of a specific season or year, the books were balanced. The balance of trade was calculated and the physical money could be “called” by the holder of the surplus on the “Note’s”. The one with the deficit could be called on to pay.

Because it worked so well, governments took control of the issue of these “Notes” and began to issue/print them for general circulation. Of course all the while, these original “Notes” which became “Currency” were actually backed by real Gold and Silver.

What about Customer Service?

Bill Me Later customer service offers e-mail, regular mail and a toll-free number for contacting them. There’s also a special phone number for Merchants.

How can I make Payments?

Payments to Bill Me Later can be made online and there is an option for deducting payments from a checking or savings account. You can also phone in payments and there is no added fee for the call in payment service.

So there you have a very, brief history of Money and Currency. I realize some historians may be disappointed with my lack of fine detail but, fine detail can’t be covered in a nutshell. I’m not anti government; I think societies need wise leadership. The guys who originally wrote the American Constitution had it pretty well sussed; wouldn’t it be wonderful to have the spirit of that document still in place and untarnished today

Resource Author Francisco R. Higueras
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