Everyone pays utility bills. It can be a cash or non-cash payment.
Money is a means of payment for goods and services, a means of measuring value, and a means of preserving value.
Modern economic science distinguishes five functions of money.
1. A measure of value. Money makes it possible to measure the value of goods by setting prices.
2. The medium of circulation. Money acts as an intermediary in the exchange process.
3. The medium of payment. The function of money that allows the time of payment to be different from the time of payment, that is, when goods are sold on credit.
4. The means of saving and accumulation. The ability of money to participate in the process of formation, distribution, redistribution of national income, the formation of savings of the population.
5. The function of world money. Manifested in the relationship between economic subjects: states, legal and natural persons located in different countries.
It is believed that money performs its task only with the participation of people who use the power of money.
It is people who can determine the prices of goods, apply money in the processes of sales and payments, and use it as a means of accumulation. Thus, in theory, any object that performs these functions can be considered money.
Throughout history, mankind has used different kinds of means of payment.
The simplest of them were products, which the owners exchanged for other goods. The emergence of the concept of commodity money is associated with this point in the development of the economic system. In the vocabulary of financiers often appear such concepts as fiat, credit, secured, full and partial money. All of them are a variety of means of payment used to pay for services, buy products and repay loans.
The progress of society does not stand still.
One era succeeds another, and new means of payment are periodically introduced into economic systems. If you ask a bank what kinds of money exist in our time, the expert will certainly tell you about metal, paper, and credit means of payment.
They differ not only in the form of production, but also in the concentration of value. It does not matter which way you decide to pay your bills, but if you need help in making payments you should use the services of professionals and make fake utility bills online.