Bank Services

Yesterday, I went to a bank to open up a savings and checking account. I deposit about $300 every month in my savings account to save money for major purchases or for a rainy day when I have unexpected expenses. My paycheck is deposited directly into my checking account, and I write out checks to pay my bills. My checking account is free if I maintain a minimum balance of $25 in the account. I also have about $100 automatically transferred from my checking to my savings account on a monthly basis. The accounts earn very little interest, but it's better than earning nothing. Therefore, I also have a certificate of deposit that earns a higher rate of interest, but I can't withdraw the money from the account for one year. Actually, I need money because I'm planning on taking out a student loan to pay for college tuition. Also, I rent a safety deposit box at the bank and store my valuables there including important documents, some coins and jewelry, and the deed, or ownership record, to my house. Finally, I can exchange my money into the currency of other countries, or I can buy traveller's checks before I depart on a trip.

Part II: Discussion

More and more students are getting into debt because they don't know how to manage their money and avoid spending beyond their means. What are some ways that students can save money and still pay for living expenses

1. apply for a credit card
2. buy traveler's checks
3. cash a check
4. check your account balance
5. deposit money
6. exchange money
7. fill out a withdraw slip
8. open a checking account
9. open a savings account
10. order checks
11. pay off a loan
12. pay your bills online
13. rent a safety deposit box
14. review your bank statement
15. take out a loan
16. talk with a bank teller
17. talk with the bank manager
18. transfer money
19. use a debit card
20. withdraw money