Saving Account
A savings account is when you keep your money in a
bank or credit
union and earn interest.
What are the benefits of having a savings account?

A savings account is a safe, . It's much safer to
keep your money at
a bank than to keep it in your home. When you put
your money in a
bank, the bank keeps it in a fireproof locked safe.
The federal
government also insures your money. No matter what,
you can't lose
your money when it's in the bank.

Banks pay you a fee, called interest, for keeping
your money with
them. And the more money you put into your account,
the more money
you'll earn in interest. transferring money from
your checking
account to a savings account each payday makes
paying yourself
automatically much easier.

Costs of having a savings account

Some accounts are free, and others carry a general
service charge. A
lot of banks charge you if you do not maintain a
minimum balance in
your account, but not all accounts have minimum
balance requirements.
You can save a lot of money in fees by finding an
account with low or
no balance requirements.

Basic Savings Account
The minimum deposit requirement for a basic account
may go, from $5
to $200. Your money earns a low interest rate, but
you can put money
into and take money out of your account whenever you
wish

How do I manage my IDA account after I open it?

Most programs require that you put money in your
account every month
and stay with the program for a certain amount of
time to get the full
match. If you take out your money before the
program ends, When you
open an IDA account, you must go to money management
classes. These
classes will help you set up a budget and save money
on a regular
basis.

TIPS TO SAVE MONEY

Controlling Your Spending

Controlling your spending means You don't spend more
than you have,
and you don't buy things that you don't really need,
AND REDUCE
EXPENSES by washing yourself your clothings ,
cooking dinner at home
instead of eating out, traveling on colective
vehicles rather than in
taxies,
looking for good prices for what you buy.
Controlling Your Spending

How can I save money and reduce my expenses?

The first step is to make and follow a realistic
BALANCE OF WHAT YOU
EARN AND WHAT YOU SPEND. THE AMOUNT OF YOUR
EARNINGS SHOULD ALWAYS BE
GREATER THAT WHAT YOU SPEND, so you have
a positive difference and that is the amount you can
save. Making this
balance or simple list you always know where your
money goes, and you
can cut back on expenses that are too high.

You should only give up buying things that you're
sure you can can go
on without. There are many ways to save money and
reduce expenses, and
you can choose which ones are best for you.


You can save a lot of cash by making small changes
in your lifestyle.

Checking Account Basics

What is a checking account?

A checking account is where you deposit money. It
allows you to keep
your money in a bank to write checks when you need
to pay for
something or get cash. Checks are written orders to
tell your bank to
pay money to someone else.

Opening a checking account is a good first step to
managing your cash
and credit. Checking accounts help you keep track of
your money.