Savings
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Savings |
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Savings Account Other Ways to Save Related Links
Saving money can be one of the most important parts of your monthly budget. No one likes to think of loosing a job or having to buy an appliance or car unexpectedly; but inevitably, something does go wrong. By saving money every month, you will be financially prepared for the unthinkable.
Begin by opening a savings account at your bank. You can do this with a very small initial deposit - sometimes as small as $50. Then, each time you get paid, put 5% - 10% of your pay into the account.
For example, if you make $1200 every pay, put $60 - $120 into your savings account.
To learn more about Banking, go to the link below.
As your savings account grows, begin to investigate other methods of saving money. These methods include government savings bonds, Certificates of Deposit (CD's), mutual funds, and the stock market. Each savings method has its own risks and benefits.
To find out more about each savings method, choose one of the links below.
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Last modified 06/19/02