Banking 101
Banking 101 Overview
Choosing and Using the Right Bank Account
Tips for getting more out of your checking and savings
When managing your money, the right tools can make all the difference. That’s why it helps to start by opening a bank account that best fits your lifestyle and your financial goals. FDIC Consumer News provides some simple pointers to help you choose wisely and streamline how you manage your checking and savings accounts.
Please CLICK HERE for more information.
Financial Education
Before opening a bank account you may want to consider taking a financial education course. This link offers a computer based program that you can complete online. Please CLICK HERE for more information.
You can also review individual aspect of bank accounts at the Consumer Protection Bureau website.
Visiting a Bank
You may want to visit a bank before you make a your final decision. When visiting a bank you may want to:
- Ask bank staff to walk you through internet banking options
- Ask bank staff to walk you through mobile banking options
- Compare costs of saving and checking accounts
You may want to choose a bank that is close to your home, work or school or even where you shop. It is important that you feel completely comfortable with the bank you choose.
Budgeting
You can find multiple ways to save money on almost everything that you purchase. Before you’re ready to save money on purchases, you need to keep track of your money to understand and recognize where you spend your money. We suggest that you consider taking a financial education course or talk to a financial coach when establishing a spending plan.
Also, easy ways to keep that budget in plan is to find smart ways to save money.
You can find all this information and so much more HERE.
Credit
Think of credit as a tool to be used wisely. Good credit saves money; bad credit costs money.
It can be difficult to pay cash for your car, home and college education and that’s where credit can be helpful. It’s important to have a plan to build and maintain a good credit history. Your credit impacts the way you live. For instance, it can help you get a car with a low interest rate loan and even help you get a lower rate on your car insurance. But if your credit isn’t good or if you don’t have a credit score, your credit can work against you and cost you money.
You can find lots of information on Credit HERE.
Economic Mobility
Housing + Employment + Education/Training + Life Skills + Financial Literacy + Asset Development = Economic Mobility
According to PEW Charitable Trusts, economic opportunity and upward mobility have formed the foundation of the American Dream for centuries and remain at the core of our nation’s identity. Yet research shows that the ability to move up the economic ladder from one generation to the next is more limited in the United States than you may think.
Find out information about Economic Mobility HERE.
Financial Coaching
Find financial education programs and services, as well as financial coaching in Metropolitan Kansas City. Find programs to suite any need.
Find programs, providers, organizations, housing coaches, and even small business coaches all HERE.
Financial Education
Completing a financial education curriculum can help you obtain knowledge and an understanding of financial matters. Financial education is the building block of financial capability and can eventually lead to economic mobility. Financial education classes and events can be found on the Money Smart KC calendar.
Find lots of different learning curriculum for different age groups and organizations HERE.
Financial Protection
How Can You Best Protect Yourself and Your Information
What can you do to keep your personal info secure? Are identity protection services worth the cost? What about credit freezes? Check out the FTC’s identity theft articles to find out. You can help people learn about identity theft — whether you’re chatting with friends and family, sharing info on a social networking site, or taking resources to a religious group or PTA meeting. It’s easy to use and share these free resources from the FTC.
Find lots of information about identity theft, fraud, and how to get your life back together after falling victim HERE.
Financial Services
There are many financial institutions that can help you manage your money conveniently, while keeping your money safe.
Learn where and what is the best financial institution for you, How to open an account, and lots more helpful information HERE.
Loans
Access to loans can be helpful for covering expenses, making a large purchase, starting a business, or for the cost of continuing education. Several types of loans are available and each can offer an avenue to purchase items that you wouldn’t have access to otherwise. It is important to know the facts about the various types of loans and the true cost of borrowing.
What Loan Is Best For You? Find all this information for whatever needs you have HERE!
Online/Mobile Finances
Online / Mobile Banking can help you save time and money. Learn more on what you should know about it and how it can help you.
Find lots more information on this topic HERE.
Order Free Handouts
Saving
Saving can help you achieve any financial goal. Whether it’s a down payment on a house or car, new furniture, college tuition or retirement, you can get there by setting money aside for your goals. Saving gives YOU control of your money, prevents debt and helps you reach your financial goals.
Saving is easier when you set goals. Be sure to define your goal, define the timetable, and define the cost. Ask yourself …What’s important to me? What do I need? What do I want?
Find out all the information you could need to help get you saving now HERE!
This is just the beginning!
You may want to take a free financial education course that you can find on the Money Smart KC calendar. We also suggest that you contact a financial education coach for further financial assistance.