How do I manage my savings account after I open it?
The key to managing any bank account is maintaining good records. Your register is a tool for keeping track of the amount in your account, or the balance in your savings account. You need to write down every transaction - deposits, fees and withdrawals - in your register so that you'll always know how much money is in your account.
At the end of each month, you'll receive a statement of your account's activity from the previous month. You can use the statement to balance your account by comparing your register with your account statement. After all financial transactions have been recorded in both places; the balances should be the same plus the interest you earned from the bank.
Other pages about this subject |
