Wednesday, March 15, 2017

Banking Services

Financial Institutions offer several services to help you manage your money.

Savings account- this is a safe short-term investment to earn interest. The federal government backs these accounts with the FDIC, Federal Deposit Insurance Corp.
Market Money Accounts – a higher rate of interest
CD or Certificate of Deposit – The bank holds your money for a set period of time and you will be penalized if you withdraw before maturity.

Checking accounts – a place to hold your money and is available to you at any time. It usually doesn’t earn interest but will be charged fees for this account. The bank tracks your deposits and withdrawals but you must also keep accurate records so you know exactly how much you have available.
ATM- you have 24-7 access to your money through the ATM at your bank or a machine at another location. There are fees involved and maximum amounts of transactions
Online Banking – you can deposit and manage your money online. Most bills can be paid online as well
Mortgages – to buy a house
Loans – to purchase big ticket items
Safe Deposit Box – to secure papers and property
Debit Card – to use instead of cash or credit
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Wednesday, March 1, 2017

Moving Out

Do you want to move out because you feel mature and ready or are you trying to avoid rules and restrictions from parents?

Ask yourself these questions:
ü Do you have a job?
ü Can you hold down a job?
ü Where do you want to live?
ü How much income do you have?
ü What expenses do you currently owe?
ü What’s your credit rating?
ü Do you have a bank account?
ü Do you have transportation?
ü Will you have a roommate?
ü How much money do you have saved?
ü Do you own household items?
ü Do you know how to plan and prepare meals?
ü How will you do your laundry?
ü Who will care for your child?
ü Can you get yourself up each morning?
ü Can you do household chores on your own?
ü Do you mind being alone?
ü Do you have reliable child care?
ü Would you understand the lease agreement?

ü Could you take care of yourself if sick?
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