Money Saving Starting With the Bank
Firstly, what we need to do. Is set up an account, at your bank of choice, what we want here, is an account that we can start to put any savings you have into a bank account that can start to earn EX0-105 interest on the money we don't need to touch.
So start today, go out to each of your local banks, find out which pay the most interest, lets face it. The more interest you're earning, the more money saving you're going to do.
Whilst researching, also find out which financial institution has limited access on your new bank account. What I mean with this is, don't get an account that you have free access on, how will you save money if you can have unlimited use at it. I personally have started with an online bank EX0-103 account. I can only access my savings account online. This prevents me from spending my hard earned money when I go shopping.
Once you have a suitable bank account setup and you're happy with it, then we can seriously start to save. Please remember don't just go to any bank and get the first account you can because choosing the right bank account can be a daunting process because of all the different options and accounts available to everyone these days.
Read the tips below to help you in choosing the right account.
- Limit the number of accounts you have. Have one or two main accounts and one or two savings accounts; speak to your bank bout merging some of your accounts together. It will help you keep track of your savings.
- Do your research. As I said earlier go out to your banks, find out which account is best. Read the fine print, make sure there are no hidden fees and you're gaining as much interest as possible. Again speak to the bank, rather than just rushing in.
- Reduce the amount of access you have to this account. What is savings when youhave unlimited access to the money. Talk about the different options I mean whether its just online access, or locking the money away in an untouchable account, It will help in the long run, speak to your financial advisor, they'll know what is best for you.
- Keep track of the cash flow in the new bank account, make sure there is always a EX0-101 minimum amount of money in the account, if it falls below zero dollars, then you could be stung with some fees, that wont help in money saving at all.
- Ask your bank, about loyalties and fee waiving. If you have been with your bank for an extended amount of time, or you have frequently used your banks other services they may be able to offer you certain loyalties and discounts on your fees.
So start today, go out to each of your local banks, find out which pay the most interest, lets face it. The more interest you're earning, the more money saving you're going to do.
Whilst researching, also find out which financial institution has limited access on your new bank account. What I mean with this is, don't get an account that you have free access on, how will you save money if you can have unlimited use at it. I personally have started with an online bank EX0-103 account. I can only access my savings account online. This prevents me from spending my hard earned money when I go shopping.
Once you have a suitable bank account setup and you're happy with it, then we can seriously start to save. Please remember don't just go to any bank and get the first account you can because choosing the right bank account can be a daunting process because of all the different options and accounts available to everyone these days.
Read the tips below to help you in choosing the right account.
- Limit the number of accounts you have. Have one or two main accounts and one or two savings accounts; speak to your bank bout merging some of your accounts together. It will help you keep track of your savings.
- Do your research. As I said earlier go out to your banks, find out which account is best. Read the fine print, make sure there are no hidden fees and you're gaining as much interest as possible. Again speak to the bank, rather than just rushing in.
- Reduce the amount of access you have to this account. What is savings when youhave unlimited access to the money. Talk about the different options I mean whether its just online access, or locking the money away in an untouchable account, It will help in the long run, speak to your financial advisor, they'll know what is best for you.
- Keep track of the cash flow in the new bank account, make sure there is always a EX0-101 minimum amount of money in the account, if it falls below zero dollars, then you could be stung with some fees, that wont help in money saving at all.
- Ask your bank, about loyalties and fee waiving. If you have been with your bank for an extended amount of time, or you have frequently used your banks other services they may be able to offer you certain loyalties and discounts on your fees.
|
|
