A Money Coach in Canada

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#4 Bus Stop Ad ~ W. Hollywood

A prospective tenant, in her 20s I’m guessing, could not give me a series of post-dated cheques because she did not have any. Full stop. No cheques. Never had had, either. And why would she? Our debit and credit cards, paypal, and ability to e-mail money or electronically transfer funds don’t leave much need for cheques anymore.

Cheques are a nuisance in my books. Receiving them necessitates a trip to a bank machine. (This is a compounded difficulty for me since there are no credit unions up here, so I have to save them up til my next trip down south.) Writing them means I need to ensure a supply on hand, plus keep tabs on which one has or has not cleared my account. Please, just let me click a button.

Having said all that, I hired a tradesperson today and have to admit I was rather touched. The company accepted my cheque on good faith, as opposed to many other places in my Vancouver years which required a certified cheque or scrutinizing all manner of ID before accepting one. Yellowknife is kinda nice that way – extending good faith on things (Once, a woman let me walk out of her shop with $20 worth of goods because I’d forgotten my wallet at home. Another time, a cashier personally paid for my $2 chocolate bar because I didn’t have cash on me and I hadn’t realized it was a cash-only shop. I guess she saw my desperate need for a chocolate fix! Yes, Yellowknife is awesome like that).

Do you ever use cheques any more? Does it drive you nuts, or is it just a part of life for you?
(A lite question on a Friday night. But your answers determine whether I’d ever purchase stock in Davis and Henderson. Just kidding.)

About the Author

Imagine if Canadians were known for being all over their money. Engaged. Proactive. Getting out of debt. Savvy. Saving. Generous. Nancy wants to help. Nancy started her own journey with money over 15 years ago, and formed her company “Your Money by Design” in 2004 to help others along the same path. It’s not the usual financial advising/investment stuff. It’s about taking control of day-to-day finances –managing monthly cashflow effectively, spending appropriately, getting out of debt, saving. If you're ready to take control over your finances, pop by her business site, YourMoneybyDesign.com


  1. I pay my rent by cheque. Other than that, I only have cheques to set up direct deposits and automated withdrawals!
    Beth´s last [type] ..Happy Birthday- Mom!


    Nov 12, 2010
  2. Hi!

    I still use cheques for rent and the occasional payments for my son’s school trips or activities. The latter can be payed in cash too, but cheques are more convenient and safer for a kid. I use maybe 20-25 cheques a year.

    I don’t see any complications with them and are easier to manage than cash – try to hand your child 27 bucks for a trip, as an example.

    As for getting them, I don’t see any problem. I never got cheques directly from the bank, I order them online and are delivered by mail. You do have postal service in Yellowknife, don’t you? Sorry, I couldn’t resist :-). AFAIK, you can also deposit them by mail. Or you can send them in a letter to a friend and he/she can deposit them to your bank. I did it for my friends, so I know it’s possible.

    What other choice do you have if you are a landlord? Cash is extremely inconvenient. Credit and debit cards have fees. Even then, you need a terminal to charge a card (and have to pay the bank to rent it, probably), or you can have one of those zip-zap machines like in the 70’s. Paypal is high-tech, maybe that’s a solution. I can see an ad: “Renting beautiful 2 bedroom apt, nice neiborhood, Paypal accepted” 🙂



    nancyzimmerman Reply:

    he he – I’m lovin’ the paypal advert 🙂 Duly noted for next time I’m seeking a tenant!


    Nov 13, 2010
  3. There are also options for transferring money from your bank account to another person’s account, depending on your bank or credit union. I’ve had people send money to me via Interac email (for is a fee) and a friend and I have transferred money for *free* from his Vancity account to my Vancity account (or vice versa) when we owe each other money.
    Beth´s last [type] ..The Bet


    nancyzimmerman Reply:

    @Beth I bank with Vancity. They (like most banks) make it super-easy and instantaneous to transfer funds between their own customers (members). But only the big banks seem to handle the e-mail. I should explore that further though; it’s been a while since I’ve checked.


    Nov 14, 2010

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