How to make money in stocks: a winning system in good



Choosing a bank is a major decision, và there is no one right choice for all students. You need lớn consider location, hours, services, fees và interest rates when you siêu thị for a ngân hàng or a credit union. Tìm kiếm for free checking and saving accounts for students and make sure your bank provides a không tính phí automatic transfer from checking to lớn saving accounts.

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Tips for smart banking in college:

Shop around, don’t settle. Research online và visit ngân hàng branches lớn find a bank that meets your needs. Some banks & credit unions offer rewards/discounts for opening accounts or for banking with them.Read the fine print and ask questions. Before signing a bank agreement make sure khổng lồ read and understand all of the information provided. Ask questions if you are not sure.Beware of cards that make you pay. You should not have lớn pay to lớn access your money.Track your spending và understand the fees. Using a budget can help you stay on track with your spending. Banks will charge you a fee if your balance goes below zero (overdraft). Avoid these fees by keeping track of what balance you have available at all times.

Compound Interest


You can build your financial wealth once you acquire the knowledge of how money grows overtime or the time value of money và the compound interest concepts. When you invest money that earns a fixed interest rate over a long period of time, you can calculate when your money doubles using the rule of 72.

Simply divide 72 by the annual rate of return you can get a rough estimate of how many years it will take for the initial investment lớn double. For example, the rule of 72 states that $1 invested at 10% would take 7.2 years ((72/10) = 7.2) to turn into $2.

Emergency Kit

We all have training at one point or another on how lớn respond khổng lồ a state of emergency, such as bad weather or environmental threat, but not many of us were trained on how to lớn create a financial emergency kit to save our financial records and personal identity in an emergency.

The kit should include:

Birth certificateSocial security cardPassportCar titleProperty deedMarriage licenseTax documents Any other financial documents deemed necessary for your identity and financial recordsEstablish your own emergency fund as a student independently from your parents. This saving habit forming will serve you well for the rest of your life as you will always maintain a certain màn chơi of financial security.

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In addition lớn establishing an emergency kit, you should also start an emergency fund. Emergency funds should equal between 6-9 months of your personal expenses.


It is never too early to lớn start saving for retirement. The first step is khổng lồ understand your options.

Some common options include:

Social securityRetirement accounts401k (employer sponsored)IRA (traditional or roth)Private savingsInvestments

You can find out more about these retirement options here.