Char Telkamp
This last week I’ve had several people ask me if my picture was supposed to be in the above box. Actually the box was around a graphic displaying the name of this column.
Apparently the graphic wasn’t ready to be seen in the first issue and “walked away” from the page. We hope we have all the bugs worked out this week and the graphics stay in place.
But in case they don’t, the column is called “Dollars & Sense” because once you have a basic understanding of your personal finances, a lot of common sense is all you need.
This week we’ll continue the Money 101 series with “Picking the Right Account.”
Now that we know where your money is going, it’s time to take a look at the different banking establishments and the different accounts that they offer, to find the bank that is right for you.
While we’re students, most of us probably wont fall into the required standards to have an interest bearing account or be able to invest in any money market account or CDs. It’s still information that is added to our brain’s data base for when we are out in the “real world” and raking in all the money that our four year sentence at this institution of higher learning has earned us.
Some you may have even been debating the idea of leaving your accounts in your hometown bank or moving it to one of Brookings’ many fine financial establishments.
While this really boils down to a personal choice, stop and think about it. If you do decide to keep your accounts in your hometown, here is a piece of advice.
Don’t have your monthly statements sent to your parents’ address. Depending on your parents, do you really want them to ‘accidentally’ open your mail and discover just how many checks you’ve written down at Skinners?
On the more practical side, depending on how often you go home, it hard to balance your check book each month if you don’t have your statement handy.
All of this is beyond the simple point that many Brookings Businesses wont except out-of-town checks.
Next week the series will continue with “Credit Card ABCs”so avoid all the invitations that are arriving in the mail to except this credit card or that one, until next week.
For those of you who have already waded into the turbulent waters of having a credit card, do you have the right card for you? Are you slowly (or in some cases, quickly) sinking into water above your head and you have no idea how to swim? These will be some of the question we’ll look at.
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