BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What is a good strategy to help you save?
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Pay expenses then deposit the rest into savings
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Dip into your savings on a regular basis
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Set aside money for savings each month
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Keep your spending and saving money together in one account
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Explanation:
Detailed explanation-1: -You can choose when, how much and where to transfer money or even split your direct deposit so that a portion of every paycheck goes directly into your savings account. The advantage: You don’t have to think about it, and you’re less likely to spend the money instead.
Detailed explanation-2: -Keep savings in a high-yield savings account As you work toward your financial goals, make sure to put your accumulating funds in a high-yield online savings account to maximize your money. Some of the best online accounts pay interest rates that are higher than the ones at large traditional banks.
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