Banking Basicswhere to bank for your personal needs, and how to make

sure you are getting the most out of your money

Decide what kind of spender

you are.Are you a big spender, a

shopper, a investor, a saver or a debtor? But no matter what

kind of spender you are it is important to be responsible

with your money.

Look at your Revenues and Expenses

Compare your expense to how much you make, a good way to do this is to write down everything you

purchase and to pay with cash, since you are more likely going to think twice before making a purchase.

Why do you need a Bank?Safety of your money

Able to invest your money

Ability to save money

Able to use credit cards

Ability to write cheques

Ability to have credit ratings

Intrest paid on savings

Different types of financial institutions

chartered banks- great for all around banking, you can invest or save your money and much more

trust companies- one stop shop and have a high standard of care

credit unions- lower interests and lower fees because it is non-profit

investment companies- want to make you happy because they need your money

Things you need to know about your banking statements

how to see if your total is right

you can see how much you took out or put into your bank account

make sure the bank did not make a mistake with you account, it is your responsibility to make sure this does not happen

it helps you keep a close eye on how much you are spending

Savings AccountsSavings accounts are important because they can give

you that extra cash you might need in case of an emergency. The earlier you start saving the more

money you will have in the end. When you put your money into a savings account, you are lending your

money to the bank , so you are making an interest on it. Your money will continue to grow without you

putting more money into it.

Debit and Credit Cardsmake sure you keep track of your spending because it is hard to keep in ming how much you have spent when you use a credit or debit card

making transactions in an ATM costs money, so be smart, make one big transaction instead of a few little ones

make sure you are not paying a huge interest on your credit cards

make sure you stay up to date on your payments

Now you are ready to go and start managing

your own banking.

Now you are ready to go and start managing

your own banking.