Savings Account
Savings Account
It is a sad fact that many people today do not have some type of savings account plan to their name. Most of us are just living paycheck by paycheck and simply depend on credit in order to get by.
Looking at how things work these days, it is no small wonder. Credit card companies and banks encourage the use of credit to pay for everything. Basically, the idea is: Buy today, and worry about finances tomorrow. And we all take it hook, line, and sinker.
However, it pays to have some kind of savings account to your name. Savings account is almost cash in that it allows you make purchases. But unlike credit accounts or debit accounts, you cannot use your savings account directly as money, such as when you write a check.
Instead, in a savings account, what you do is set aside a portion of your liquid assets