Keep a certain amount of money in bank can allow for the individual to maintain a financial structure. It is a good way to keep track of ones financial record. When one opens an account at the local bank, the individual can open as many accounts as one desired. Each has its own specific purposes.
Accounts can be opened for many purpose like vacations, holiday gifts, and a new house. Some experts suggest putting a certain amount into the accounts while others suggest a percentage.
One can open 4 accounts:
One for saving (saving)
One for expenses (checking)
One for debt
One for charity
One way of adding to ones account is by taking ones pay check and depositing it into ones accounts. Is an important way of keeping track of ones financial situation.