WEEK2 please read it and write down your ideas ?
Some of the recommendations that I would make would be to have the couple consider meeting with members from of a few different financial institutions. Each financial advisor could review their current financial situation and offer them the best way to manage their money and explain the different options they each have to offer. When considering some of the management services that are available they include local banks, credit unions, stock brokerage firms, financial service companies and insurance companies. (Table 5-1 p.141) It is a good idea to speak with someone regarding their monetary assets and make sure that they are earning the most interest while building up their accounts. It is also important to make sure that they are not being charged unnecessary monthly fees. I believe the best use for their savings and checking accounts would be to establish a relationship account with a financial institution of their choice. I have one and it combines the total of all my monetary assets so that I do not have to pay any fees at all. It includes savings, checking, CD, and my mortgage. By combining them, I also receive a higher rate of return and have no limits on check writing, ATM withdrawals, transfers, and no fee for cashierâs checks. It also provides the convenience of conducting all my banking at one location. I believe with all the accounts they presently have at different financial institutions; it might be a good idea to look into find one that might be able to combine and manage all their assets. The use of electronic banking can prove to be very useful. It is important to create an online account to help monitor transactions and the money that has been transferred and debits that are made from an account. Especially if the use of debit card is used more often than cash for purchases and bill pay. As mentioned in the text âThere are costs that are assessed with the use of some electronic bankingâ (p.154). It is important to discuss the policies and fees prior to using such services. The use of such electronic banking services can serve as a checks and balance system. It allows you to compare the activity of checks cashed, debits made as well as transfers.
WEEK2 please read it and write down your ideas ?
Some of the recommendations that I would make would be to have the couple consider meeting with members from of a few different financial institutions. Each financial advisor could review their current financial situation and offer them the best way to manage their money and explain the different options they each have to offer. When considering some of the management services that are available they include local banks, credit unions, stock brokerage firms, financial service companies and insurance companies. (Table 5-1 p.141) It is a good idea to speak with someone regarding their monetary assets and make sure that they are earning the most interest while building up their accounts. It is also important to make sure that they are not being charged unnecessary monthly fees. I believe the best use for their savings and checking accounts would be to establish a relationship account with a financial institution of their choice. I have one and it combines the total of all my monetary assets so that I do not have to pay any fees at all. It includes savings, checking, CD, and my mortgage. By combining them, I also receive a higher rate of return and have no limits on check writing, ATM withdrawals, transfers, and no fee for cashierâs checks. It also provides the convenience of conducting all my banking at one location. I believe with all the accounts they presently have at different financial institutions; it might be a good idea to look into find one that might be able to combine and manage all their assets. The use of electronic banking can prove to be very useful. It is important to create an online account to help monitor transactions and the money that has been transferred and debits that are made from an account. Especially if the use of debit card is used more often than cash for purchases and bill pay. As mentioned in the text âThere are costs that are assessed with the use of some electronic bankingâ (p.154). It is important to discuss the policies and fees prior to using such services. The use of such electronic banking services can serve as a checks and balance system. It allows you to compare the activity of checks cashed, debits made as well as transfers.
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