Bank It
Bank or Credit Union #1: Bank or Credit Union #2:
BB&T Bank Bank of America
BB&T Bank Bank of America
Scenario 1
Aiden’s car is 12 years old and he’s worried it might break down, so he’s trying to save three months of expenses for unexpected repairs, while also saving for a new car. What are the best savings strategies for Aiden so he can keep his money accessible for repairs, but also save for a new car?
Aiden should open up a bank account at a local bank and then create a savings account so that he may reach his goals.
Scenario 2
Madeline’s friends invited her to go to Cancun next year for vacation. She really wants to go, but she’s not sure if she can afford the $1,000 trip. She has $500 saved in her dresser and has one year to save the rest, but she’s not sure where to keep her money so she can maximize her savings. What is the best savings strategy for Madeline and why?
Madeline needs to deposit her money into a savings account so that by next year she will have enough money saved up to go on the trip.
Scenario 3
Scott is a freshman in high school and plans to attend college someday. His grandparents gave him $5,000 to start his college savings, but he’s not sure where he should keep this money until he’s ready to go to college. What would be the best savings strategy for him?
Scott should go to one of his local bank that offers a 529 savings account plan and open an account there and create a plan.
Aiden’s car is 12 years old and he’s worried it might break down, so he’s trying to save three months of expenses for unexpected repairs, while also saving for a new car. What are the best savings strategies for Aiden so he can keep his money accessible for repairs, but also save for a new car?
Aiden should open up a bank account at a local bank and then create a savings account so that he may reach his goals.
Scenario 2
Madeline’s friends invited her to go to Cancun next year for vacation. She really wants to go, but she’s not sure if she can afford the $1,000 trip. She has $500 saved in her dresser and has one year to save the rest, but she’s not sure where to keep her money so she can maximize her savings. What is the best savings strategy for Madeline and why?
Madeline needs to deposit her money into a savings account so that by next year she will have enough money saved up to go on the trip.
Scenario 3
Scott is a freshman in high school and plans to attend college someday. His grandparents gave him $5,000 to start his college savings, but he’s not sure where he should keep this money until he’s ready to go to college. What would be the best savings strategy for him?
Scott should go to one of his local bank that offers a 529 savings account plan and open an account there and create a plan.