One of the things that I like about banking is that I can get money from my salary, put money for savings and to be able to earn more by let’s just say, interest. Banking nowadays may already seem a routine. But did you think of its importance?
One of the things that I wanted to share on is that some of the bank machines have difficult instructions. Have you ever feel confused as to whether what buttons to press or what step would you be the next to do? I did experienced it once and I was actually dumbfounded. It when a certain bank company tried to innovated and upgraded their bank machines. There was actually no instruction or even an announcement that said that the bank machine have changed. I was so worried that I may not get
Anyway, banking. Banking really is an important part of our society today. Modern people as we are, we rely on banking to get our money or to be the place to save up our money. For me, here are the things that makes banking important:
It earns you money.
If I have received my salary or even been given money, sometimes I would deposit it to my bank account. I do this because in time, the money that have been depositing into my account will earn an interest. And by earning interest means growing my own profits. I have been doing this most of the time and as I keep saving my money by depositing, I am becoming closer and closer to my goal. I intended to save up my money for my future. It is actually a good habit don’t you think? By using the bank as a means to help you save up.
The government will insure money you keep in the bank.
This is probably the most important reason. When you are banking, you are placing your trust and especially money to a certain bank company. This is a big issue because it is our money we are talking about. I am placing all of my savings to my bank, naturally I trusted that bank company of mine. And whenever that bank company by any chance fails, I needed to be sure that the government will be able to insure the money that I have in that bank.
Bank products help you budget.
There are several things that a bank can offers. They may offer different products and services that can be beneficial for you. Like what I do, I divided up my money to be able to reach different goals of mine. I allocated $1,500 to my checking account per pay check, $150 to my general savings account per pay check and $150 to my retirement savings account per pay check. This is actually very helpful and very beneficial for me in the future because this way, the separation of my money keeps me from dipping my hands into savings and allow me to stay on track with my monthly budget.
Well, these are just what I deem most important about banking. I hope you guys learned a trick of mine to be able to save. I encourage you to save up for the future and spend less than you really need to.