Archive for the ‘Bank Account’ Category
The Superintendence of Banking, Insurance and AFP (SBS) has launched an educational campaign to help people generate competition in the financial system, through a better choice of savings accounts in banks, financial, rural banks or municipal funds. Learn how you can also manage their personal finances and family.
1. What steps should be taken into account so that you have enough money? The SBS recommends saving regularly, living away from the overhang and have a personal or family budget. Also, be sure to take into account that saving requires determination and perseverance, you must establish how much to save and which financial institution to do so.
2. How do I start making a family budget?
First identify the real income of the family and be conservative about these, especially those who are variables. Then, define and classify expenses. It is necessary to distinguish between costs, tastes and desires. Should also prepare the payment of debts and identify the level of household savings.
3. What to consider when choosing a savings account?
Knowing the effective annual rate of return, discounting the maintenance fees and commissions charged by financial institutions. The latter are obliged to inform the user of the minimum balance for performance.
4. What is the minimum balance for savings accounts performance?
Is the average balance required to have a depositor in an account that has no movement for at least not lose or win money to make ends meet. The minimum balance can be considered the starting point upon which a savings account starts to increase its capital.
5. What other features should be considered in the account?
For example, the number of free transactions (over the counter and ATM) and the cost of additional operations, and also early termination penalties in term deposits, the possibility of using ATM networks in addition to those of financial institution.