This month’s blog is based on the sitcom Mork & Mindy, which was one of the spin-offs from Happy Days. The show stars Robin Williams as Mork, an alien from the planet Ork, where just about everything – including opening a bank account and seeking debt help – is done very differently than here on Earth.
Mork – Hey Mindy, I went to the bank today to open an account. When the bank manager asked for my ID and I showed her my Orkan papers, she asked if I was joking! I said, ‘Of course not, I’d like to open a bank account.’
Mindy – That’s great, Mork, I’m glad you’re trying to do things that Earthlings do. What did you learn today?
Mork – I’m so confused, Mindy! They have so many different options!
You can get a starter account that gives you 10 free transactions a month, but if you keep $3,000 in the account, you don’t pay monthly fees. You can also get the Plus account, which gives you more transactions, but you have to keep a little more money in the account. The next thing she talked about was the ‘Infinite’ account, which gives you unlimited transactions, but you need to keep even more money in the account.
The only way I could get the money to start the account is to borrow it from your dad at the music store, but I don’t think he’s going to lend it to me.
Then, she started talking about this drafty thing, where if you run out of money you can buy extra protection to cover it. It sounded kind of like cold protection…
Mindy – Mork, I think you’re talking about overdraft protection. That’s when you spend more money than is in your account and the bank makes sure your cheques don’t go bad so you won’t pay big fees when your account goes negative.
Mork – And that’s a good thing, right Mindy?
Mindy – Well Mork, the people at Caplan Debt Solutions say it’s always better to operate on a cash basis. That means you shouldn’t buy anything unless you have the cash to pay for it. At Caplan Debt Solutions, they always ask the questions: “If you can’t pay for what you would like to buy with cash today, how will you be able to afford it when you have to pay for it?”
Mork – Shazbot, I never thought of that! On Ork, we never had to worry about paying for things or looking for debt help. I think I need some help in that area. Can those people at Caplan Debt Solutions teach me about that too?
Mindy – They sure can Mork! They can help you with budgeting and all of your financial concerns. They can even talk to you about bank accounts and getting debt help. Did you know that there are bank accounts that give you all those things that you were looking for and they don’t cost anything? They are called virtual banks and you do all your banking online.
Mork – Wow Mind, I’m definitely going to contact Caplan Debt Solutions today. It sounds like it will save me a lot of money. I feel financially smarter already.