Bank Accounts

Topics: Savings account, Deposit account, Bank statement Pages: 3 (1043 words) Published: November 28, 2011
Growing up all I ever wanted was money. Back when I was about 7 years old I would always ask my parents for money. But I could never figure out how to go by saving my money. I would try so hard to not spend it on candy or ice cream but that would never work. I would always hear my parents talk about going to the bank to make a deposit. I never would ask them what deposits were. A few years had passed and I finally asked my parents what deposits were? My father told me a deposit is something you take to the bank. And I said is it money? And why do you take your money there can’t you just keep it in your pocket? And he told me son if I were to keep the money in my pocket I would probably end up losing it or spend it. Ever since then I knew that I wanted to take my money to the bank. That was the only way I was going to save it. As years went by it became clearer that you could deposit your money many different types of ways. In this essay I will give you some examples of ways you can go about saving your money. This way you will get an idea of how to save your money in a bank.

First I will talk about a checking account. This is a type of account that is widely used by many to easily access their funds. Many different banks offer a wide variety of options. You should always carefully choose your account based on what your needs for the account will be. Another good option to look for is see what the required minimum balance is for each month. From personal experience, you need to assure yourself that the minimum balance that is required by the bank is just as convenient to you as it is to them. I had run into a situation to where I didn’t see what the minimum balance was and I had not budgeted right. And at the end of the month I had looked at my bank statement the bank had charged me a $50 dollar fee due to over drafting my account. It was not a good way to start off my day. Jean Paul Getty once said ““If you owe the bank $100 that's your problem. If you owe the...
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