» Savings Account

Every time you receive a paycheck, it’s only reasonable to set aside a specific amount to be transferred into savings. Having a savings account will greatly help you in future, such as in case of emergencies, when there’s need to purchase assets such as a home or car, or even when there is urgent need to get a debt cleared. A number of  people  spend all their monthly income and they end up having to use credit to handle  basic requirements. Learning how to budget effectively will prepare you for a rainy day and will help you to become self-sufficient. How much money should you plan on setting aside each paycheck? Here… » Read more

How much money do you put toward your savings account with each paycheck? It is helpful to deposit at least 10% of each paycheck as this gives you a great emergency fund to fall back on but it also helps to have money for holidays, birthdays, vacations, and other special events.  Some companies can set up automatic transfers to your savings account so you do not need to worry about doing it. Others may only be able to deposit to your checking account and then you need to transfer to the savings account.  

What happens if you are struggling to get by? Can you still put money into your… » Read more

Banks, just like any other financial institutions, want to deal with customers who they believe will not make them incur losses. If you want to be a good customer, it is important that you invest money with your bank often and follow their rules. As long as you do this, your bank will reward you with some pretty decent returns in the form of interest rates on loans, interest on your savings account, and other things.

Here are some tips that can help you become a great customer to your bank:

• Have a balance in the bank, and maintain it! When you have a lot in the bank, you will avoid getting overdraft fees