Tools for recovery - the economy, your wallet, your bottom line.

Despite news of economic recovery, debt management is still much in the news. The new, more frugal American is looking for ways to reduce future risk. Today's U.S. News and World Report online has an article on debt reduction that offers five tips. The most interesting one is more psychology than financial know how: You are not your debt. Read the rest here.

Directo offers paycards as well as electronic paystubs, W-2's and online billing. Payroll cost is more than just paper - the time it takes to manage payroll, from payroll production to employee requests for replacement checks and proof of income reduces the productivity of valuable employees. With Directo, your company can drastically reduce these costs and hassles.

I'm excited about a preview of the new online invoicing feature. Email a bill, and give your client the opportunity to pay online! Email to find out more.

NYT: Debit Card Use Increases as Consumers Limit Credit Card Use

According to an August 12th New York Times article, consumers are using debit more than credit cards, accelerating a trend that began before the recession:

"Both in terms of the number of transactions and the total dollar amount spent, debit cards have overtaken credit cards for U.S. consumers. In dollar terms, debit cards are now used for 50.4 percent of all noncash sales, though they have a lower average dollar amount per transaction, according to research from TowerGroup, a subsidiary of MasterCard Worldwide. Those smaller sales are key: debit card sales dominate small purchases like those made in convenience stores, coffee shops and gas stations."

Americans are more concerned with personal spending, and Visa and MasterCard-branded debit cards allow them the same access to retail spending, without the accumulated debt and high interest rates. The article goes on to say that direct deposit participation is at 72 percent now, higher than ever for the U.S., but still lagging far behind Europe.

Direct deposit is a sure way to cut payroll costs, and paired with Directo paycards, it allows your unbanked employees the access to savings, financial security, and purchasing power that comes with a bank account, but without the credit checks and risks associated with brick and mortar banks.

Cutting payroll costs is what it's all about - join us on Wednesday the 5th!

We have a free MyStub webinar scheduled the Wednesday the 5th at 2pm eastern. Drop me a line if you want to join in. In just twenty minutes you can find out how you can slash payroll costs while increasing efficiency. It's simple and once you learn how your employees can benefit you'll want it for yourself!

See you there!