Here’s a great shortcut for managing your money like a pro: work with a financial institution.
Money management is easy if you have the right tools for the job.
And the best place to get those tools is a financial institution, like a bank.
Exactly. Millions of Americans use banks, and chances are any successful person or business you can think of has a relationship with a bank. The fact is, banks offer safe and secure services that can help you save time and money — and build a strong financial future.
Depending on where you live, you’ll probably have a number of banks, savings & loans, or credit unions to choose from. So think “long term relationship”, and shop around for a financial institution that meets your needs.
It’s risky to keep your money in cash. It could easily get lost, stolen, or even destroyed in an unexpected event such as a house fire. By keeping your money in a financial institution, you’ll have the peace of mind knowing your funds are always safe.
By using financial institution, you don’t have to carry large amounts of cash, but you can conveniently get cash when you want it at bank branches, ATMs, grocery stores, and many other convenient locations—even when you travel away from home.
Makes it easy
The people who work at the bank are there to help you. If you’re brand new to banking, they’ll be happy to explain what accounts and services can help you with your money management needs.
Many people who don’t have a bank account use check cashing stores instead. Most of these stores charge very high fees. You can usually save a lot by using a bank.
Are you worried that a bank might mismanage your money, or even go out of business? All U.S. banks have to follow federal and state laws and regulations. And at most banks, your funds are insured by the Federal Deposit Insurance Corporation, or FDIC. That means that if anything ever happened to the bank, the FDIC insures each person’s money to at least $250,000.
By working with a bank, you can talk to and work with financial professionals. The knowledgeable advice of bankers can be valuable resource to help you build a better financial future.
Note: Ask financial institutions you’re considering how they give back to your local community. Their answers may influence your decision about which bank to choose.
Click on Articles for more information about financial institutions.
Click the Next button to learn about two great money tools that banks offer.