<img src="https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/9.jpg" sizes="(max-width: 1290px) 100vw, 1290px" srcset="https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/9.jpg 1290w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/9-300x151.jpg 300w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/9-1024x516.jpg 1024w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/9-768x387.jpg 768w" alt="" width="1290" height="650" /> If you want a safe and secure place to store your money, an account at a federally insured bank or credit union may meet your needs. To open an account, you will need: Primary identification. This is usually a government-issued photo identification such as a: Drivers license with photo, issued by a State or Territory of the U.S. State- or U.S. Territory-issued identification card with photo U.S. Passport with photo Passport from country other than U.S., with photo and with a valid I-94 or I-551 card or stamp Foreign issued ID such as the Matricula Consular issued by a Mexican consulate’s office Secondary identification. This can be anything from the above list not used as primary identification, such as a: Birth certificate Social Security Card Major or local debit/credit card embossed with name (does not include gift cards) College ID of institution where applicant is currently enrolled Utility bill with the name and address used for opening account Rental agreement or lease for current residence—the address used for opening the account Documentation of home ownership for current residence Permanent resident card Certificate of citizenship or naturalization A Positive Banking History. Even if you have the right documentation and money to deposit, opening an account at a bank or credit union may be difficult. Banks and credit unions use specialty consumer reports that tell them about your history managing accounts in the past. If you have bounced checks, overdrawn your accounts, or still owe a bank or credit union fees, you may not be able to open any kind of account. These same reports will also document if you have been involved with check kiting or other fraud associated with a bank account. Some banks and credit unions will also review your credit history before allowing you to open an account. It is important to get, review, and fix any errors on your reports to ensure your credit is a good representation of your bill paying history.   <style>/*! elementor - v3.6.1 - 23-03-2022 */<br /> .elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=".svg"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}</style> <img src="https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-26.jpg" sizes="(max-width: 410px) 100vw, 410px" srcset="https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-26.jpg 410w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-26-300x300.jpg 300w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-26-150x150.jpg 150w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-26-87x87.jpg 87w" alt="" width="410" height="410" /> <img src="https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-27.jpg" sizes="(max-width: 410px) 100vw, 410px" srcset="https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-27.jpg 410w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-27-300x300.jpg 300w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-27-150x150.jpg 150w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-27-87x87.jpg 87w" alt="" width="410" height="410" /> <img src="https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-28.jpg" sizes="(max-width: 410px) 100vw, 410px" srcset="https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-28.jpg 410w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-28-300x300.jpg 300w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-28-150x150.jpg 150w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-28-87x87.jpg 87w" alt="" width="410" height="410" /> Money. You will be required to make a deposit to open an account. The amount you need varies by institution. Things to Consider Before Opening An Account Think about how you manage your money: Do you get paid by a paycheck, a payroll card, or cash? Do you use money orders or cash to pay your bills? Do you have money left over at the end of the month and if so, what do you do with it? Then think about the type of account that you are looking for: Do you want a place to deposit your paycheck and pay bills? Do you want to establish a savings account and earn interest? How many transactions will you make per month? How much money will you keep in there at one time? Finally, consider the actual financial institution: Do you need it to be close by so that you can make in-person transactions? Do you want to be able to ask questions and get help from a live person rather than a voice on the telephone? Do you need a location that is open on evenings or weekends? With some thought and planning you can find the right kind of bank for you

<img src="https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/8.jpg" sizes="(max-width: 1290px) 100vw, 1290px" srcset="https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/8.jpg 1290w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/8-300x151.jpg 300w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/8-1024x516.jpg 1024w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/8-768x387.jpg 768w" alt="" width="1290" height="650" /> <h3>Know the Costs of Financial Products and Services <strong>   </strong></h3> Using a bank or credit union can streamline your financial life. Having your paycheck directly deposited into your account can save you time and money. Having money automatically transferred from your checking account to a savings account can help you build an emergency savings fund. Options like online banking, bill pay, and text alerts can help you stay on top of your spending and keep you from overdrawing your account. But, accounts come with costs, commonly called fees, that can increase if you do not follow the rules of the account.   <style>/*! elementor - v3.5.5 - 03-02-2022 */<br />.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=".svg"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}</style> <img src="https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-26.jpg" sizes="(max-width: 410px) 100vw, 410px" srcset="https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-26.jpg 410w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-26-300x300.jpg 300w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-26-150x150.jpg 150w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-26-87x87.jpg 87w" alt="" width="410" height="410" /> To find the account that is the best fit for you, learn about the fees that are charged on various accounts. You can then consider each fee and its potential impact on you.  For example, if the minimum balance requirement seems higher than you can manage, look for an account that does not have one.  If the account limits the transactions per month, look for one that does not.  And be sure to explore your options for overdraft.  In general, it is best to avoid overdraft protection programs that are offered with checking accounts because you may be charged for each transaction they cover, and you may be charged interest until you pay back the bank or credit union.  Consider linking your checking account to a savings account, a credit card, or a line of credit. These will generally be cheaper than bank or credit union overdraft protection programs. Finally, consistent recordkeeping of your account – tracking what’s coming in and what’s going out – will give you the information you need to keep your bank balance in the black.

<img src="https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/8.jpg" sizes="(max-width: 1290px) 100vw, 1290px" srcset="https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/8.jpg 1290w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/8-300x151.jpg 300w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/8-1024x516.jpg 1024w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/8-768x387.jpg 768w" alt="" width="1290" height="650" /> <h3>Checking Account Management</h3> Managing a checking account requires regular care and maintenance to ensure that it is doing all that you need it to do.  With time and practice, the habit of maintaining your checking account will be as automatic as brushing your teeth. The first step in managing your checking account is watching what’s going in and what’s coming out.  Years ago that was simpler – you deposited your weekly paycheck in person with the bank teller and withdrew a weeks’ worth of cash for expenses.  Today with direct deposit, auto transfer, and automatic bill pay, there are more transactions to keep track of. And with so many transactions in and out of your checking account, there are more opportunities to overdraw it. Monitoring your account on a regular basis is the best way to avoid fees. <style>/*! elementor - v3.6.1 - 23-03-2022 */<br />.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=".svg"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}</style> <img src="https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-26.jpg" sizes="(max-width: 410px) 100vw, 410px" srcset="https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-26.jpg 410w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-26-300x300.jpg 300w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-26-150x150.jpg 150w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-26-87x87.jpg 87w" alt="" width="410" height="410" /> There are two ways to do this: <ol> <li><strong>Use a paper-based check register.</strong> Using a check register allows you to keep track of everything coming in and going out of your checking account. You will use the register to record every deposit made into your account.  This is the money you have to use.  You will also record every check you write as well as every debit transaction, ATM withdrawal, or automatic payment you have made out of the account.  Doing so should provide you with an accurate account balance.  Be sure to include any fees that you incur:  out-of-network ATM fees, overdraft fees, account maintenance fees, and others.</li> <li><strong>Use online banking. </strong>You can use online banking tools to monitor the transactions - both deposits and withdrawls - your financial institution posts to your account. You will need to create an online account on the bank's website in order to view your account information online.  You can also keep an electronic register using your computer or a mobile app to make sure the information the bank or credit union is posting is accurate. Keep in mind that you should never look at your banking information on a public computer or using insecure wireless Internet connections.</li> </ol>

<img src="https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/7.jpg" sizes="(max-width: 1290px) 100vw, 1290px" srcset="https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/7.jpg 1290w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/7-300x151.jpg 300w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/7-1024x516.jpg 1024w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/7-768x387.jpg 768w" alt="" width="1290" height="650" /> <h3>Alternative Financial Service Providers:  Understanding the Products, Services, Costs and Benefits</h3> Alternative financial service providers like check cashers, pawn shops and payday lenders exist for a reason – they are often convenient, provide friendly service, and make it easy to access services. They have short applications, request only a small amount of personal information, and do not conduct credit checks or income verification. However, alternative financial service providers charge interest rates and fees that are much higher than banks or credit unions.  Some of these charges can rise so high that they lead to financial troubles, including debt traps.  A debt trap occurs when the only way you can pay off one debt is to take out another debt to cover it. A very common alternative financial product is a payday loan.  Payday loans are seven to fourteen day loans designed to be repaid with the borrower's next paycheck.  They are secured with a check post-dated to the repayment date for the amount borrowed plus a fee.  If the borrower cannot afford to repay the loan in two weeks,  they will often renew the loan, paying a fee to extend the loan for two more weeks. The average person takes out a $375 loan and ends up taking 5 months to repay this loan.This means he has renewed or rolled over the loan 5 – 7 times. Signature loans or small dollar loans, pawnshop loans, and car title loans are additional examples of ways people get needed cash when they have few options. Signature and small dollar loans work like payday loans, but pawnshops and car title loans involve securing the loan with an asset.   <style>/*! elementor - v3.5.5 - 03-02-2022 */<br /> .elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=".svg"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}</style> <img src="https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-26.jpg" sizes="(max-width: 410px) 100vw, 410px" srcset="https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-26.jpg 410w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-26-300x300.jpg 300w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-26-150x150.jpg 150w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-26-87x87.jpg 87w" alt="" width="410" height="410" /> <img src="https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-27.jpg" sizes="(max-width: 410px) 100vw, 410px" srcset="https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-27.jpg 410w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-27-300x300.jpg 300w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-27-150x150.jpg 150w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-27-87x87.jpg 87w" alt="" width="410" height="410" /> <img src="https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-28.jpg" sizes="(max-width: 410px) 100vw, 410px" srcset="https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-28.jpg 410w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-28-300x300.jpg 300w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-28-150x150.jpg 150w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-28-87x87.jpg 87w" alt="" width="410" height="410" /> Pawnshop loans are secured with a wide variety of assets, from musical instruments to jewelry to yard equipment.  The pawnbroker gives a loan that is equal to a fraction of the value of the asset. If the individual returns within the time specified and pays back the loan, she will get her property back.  If she returns within the time specified, but does not have enough money to repay the loan, she can renew it for a fee.  If she does not return to repay or renew the loan, the pawnshop will then sell the item to cover the loan. A car title loan is similar, but the loan is secured with the title to an automobile.  For families that rely on their cars to get them to jobs, childcare, and school, a car title loan can be risky.  If they don’t pay the loan or fees as agreed, they can lose their car. What are some alternatives to payday, signature, pawnshop, and car title loans? In the short-term, it could be a credit card or even a credit-building loan from a bank or credit union.  If you have a negative credit history, then consider a loan from a family member or friend.  You could also try cutting spending on other things to cover expense. In the medium and long-term, you may want to consider building up your emergency savings or finding a way to earn more income. Avoiding high cost financial products and services from alternative financial service providers may mean more money in your pocket today, more financial stability tomorrow, and a path towards achieving your financial goals.

<img src="https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/6.jpg" sizes="(max-width: 1290px) 100vw, 1290px" srcset="https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/6.jpg 1290w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/6-300x151.jpg 300w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/6-1024x516.jpg 1024w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/6-768x387.jpg 768w" alt="" width="1290" height="650" /> The Basics of Borrowing Money People borrow money to help them afford homes, cars, businesses, and education. These items generally cost more than a person can pay for out of one paycheck or even save for within a reasonable amount of time. Before taking on a loan, it’s important to understand some of the basics of borrowing money. The first step is making sure you really need the loan. Once you've decided to take out a loan, make sure you understand the loan and key borrowing terminology. Be sure you understand all of the costs associated with the product, such as the interest rate, fees for late payments, penalties for repaying the loan early, and any other charges that may apply. You will want to know when your payments are due and how to make your payments. And, you will want to know who you should contact if you have any questions about your loan. Be sure you qualify for the loan. Most lenders will want to see: proof of stable income, adequate savings, a good credit history, and proof of any collateral securing the loan. The lender will also calculate your debt-to-income ratio to make sure you can afford the new monthly debt payment. While lenders will approve you up to a specific amount, consider borrowing less than the allowed maximum. This gives you a little cushion if your income should suddenly change. <style>/*! elementor - v3.5.5 - 03-02-2022 */<br /> .elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=".svg"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}</style> <img src="https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-26.jpg" sizes="(max-width: 410px) 100vw, 410px" srcset="https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-26.jpg 410w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-26-300x300.jpg 300w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-26-150x150.jpg 150w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-26-87x87.jpg 87w" alt="" width="410" height="410" /> <img src="https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-27.jpg" sizes="(max-width: 410px) 100vw, 410px" srcset="https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-27.jpg 410w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-27-300x300.jpg 300w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-27-150x150.jpg 150w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-27-87x87.jpg 87w" alt="" width="410" height="410" /> <img src="https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-28.jpg" sizes="(max-width: 410px) 100vw, 410px" srcset="https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-28.jpg 410w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-28-300x300.jpg 300w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-28-150x150.jpg 150w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-28-87x87.jpg 87w" alt="" width="410" height="410" />  

<img src="https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/5.jpg" sizes="(max-width: 1290px) 100vw, 1290px" srcset="https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/5.jpg 1290w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/5-300x151.jpg 300w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/5-1024x516.jpg 1024w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/5-768x387.jpg 768w" alt="" width="1290" height="650" /> If you are more comfortable doing your banking in person, then switching to the virtual world can seem like a leap into the unknown.  But with time, you can start to reap the benefits of this convenient new way to bank. The key to successful online banking is understanding the benefits and the risks. <strong>The benefits of online banking include:</strong> <ul> <li>Quickly and easily paying your bills, setting up recurring payments, and transferring money from one account to another.</li> <li>Banking anytime, anywhere. As long as you have an Internet connection, then you are able to access online banking services.</li> <li>Viewing your account on your smartphone. Some online accounts also have smartphone apps that make it easy for you to view your account while away from home.</li> <li>Receiving alerts. Many online banking services will send you alerts through email or text to let you know when certain account activity takes place or your balance falls below a certain limit.</li> <li>Managing your money. Some online banking services offer budgeting tools alongside account activity to help you better manage your money.</li> <li>Saving some trees. If you choose to only view your account through online banking then you will receive less paper mail from your bank.</li> </ul> <strong>The risks of online banking include:    </strong> <ul> <li>Limits of the service.  There may be times when you will need to go to a physical bank or credit union to conduct business.</li> <li>Limited customer service. When you are conducting a bank transaction you might like to ask a bank representative for assistance.</li> <li>Comfort. There may be a learning curve and it might take some time before you are comfortable using online banking.</li> <li>Security threats. While online banking services are designed to be secure, there have been times when a bank or credit union security system has been compromised.</li> </ul> <ul> <li></li> </ul> <style>/*! elementor - v3.5.5 - 03-02-2022 */<br /> .elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=".svg"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}</style> <img src="https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-26.jpg" sizes="(max-width: 410px) 100vw, 410px" srcset="https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-26.jpg 410w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-26-300x300.jpg 300w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-26-150x150.jpg 150w, https://reactheme.com/products/wordpress/finanix/wp-content/uploads/2022/02/portfolio-26-87x87.jpg 87w" alt="" width="410" height="410" /> <strong>To keep your information secure:</strong> <ul> <li>Make sure you are on the actual site. Sometimes, people are misdirected to imposter sites.  Look for "https://" at the beginning of the web address.  The “s” means it’s secure.  The site should also have security verifications on its landing page and a lock symbol in its browser bar.</li> <li>Do not store you user name or passwords.  This may save time when logging in, but it may make your information less secure.</li> <li>Use difficult passwords and change them regularly.  Avoid using names, locations, or numbers (your phone number or birthdate) that are easily associated with you.  Also avoid obvious keyboard patterns.  The best passwords include capital letters, lowercase letters, numbers, and symbols.</li> <li>Avoid using public computers or WiFi.</li> </ul>