Banking Your Way To Comfort

Get both a savings and checking account, preferably one with no fees (or little as possible). Some checking or savings accounts may charge a fee if you go long periods of time without making any deposits or withdrawals. In cases like this it’s best to look at a credit union because a lot of times they won’t have those fees.

A checking account will allow you to have a debit card. Sometimes the minimum for a checking account will be $100. Meaning you will always need to have a $100 in there to keep it active. The beauty of checking accounts now is that they will keep a running online total of all of your transactions. If you use a credit union like Meritrust their online application will even help you categorize transactions.

Don’t treat your savings account like a checking account. If possible try not to even know what is in your savings. Deposit money into it but go for as long as you can before even looking at the balance. If you don’t know what is in it you won’t want to spend it.

Play Cash Flow Classic (This will take you to the “Rich Dad Poor Dad” site. This is one of the best games to learn how to manage money, investments and real estate.)

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