In the last post, I discussed all things bank charges. For this post I'm going to cover how you can use bank accounts to your advantage.
Remember when I described the bank as being a business? Well think of a bank account as the products its selling. This goes for life insurance, mutual funds, etc. Today let's focus on bank account. There are different types (chequing, savings, etc.). I am going to go over all of them and their differences in another post coming up. So you decide that it's time to open a new account. If you're turning 18 you have to leave your youth account. Here are my tips to help you find the right bank account!
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Having a bank account is a right of passage that brings you one step closer to adulthood. However, when you sign on to opening an account, there are things that the banks won't tell you in detail. One if these things are bank charges.
One summer I overcame my biggest challenge. Money Rules!
This 500 page bible by Gail Vaz-Oxlade was no small feat. Each page was jammed packed with information. If you asked me about it I probably couldn't remember about it. Gail Vaz-Oxlade has been writing financial books for years! She has also hosted a variety of shows including "Till Debt do us Part" and "Princess". Like Dave Ramsey (the cash envelope system dude), she has a very set system to financial success. Look! I agree that there is a way to financial freedom but everyone is a different case. So sometimes I don't fully agree with everything these financial gurus say. However, there is one lesson Gail preaches that EVERYONE need to follow! |