BIOL 1500 Chapter Notes - Chapter 4: Cash Advance, Guaranteed Rate, Canada Savings Bond
2 Sep 2014
School
Department
Course
Professor
Document Summary
Chapter 4 the banking services of financial institutions. Today a trip to the bank" may mean to credit union, automated teller machine, checking account balance on web. Cash loans for autos, education, and other purposes. Buying groceries, paying rent, and other routine activities require cash management plan. Managing cash: cash, cheque, or automated teller machine (atm) card (credit or debit card) Most people desire ease of payment, but also must consider fees and potential for impulse buying and overspending. Common mistakes made when managing current cash needs include: Overspending as result of impulse buying and using credit cards. Having insufficient liquid assets (cash, chequing account) to pay current bills. Using savings or borrowing to pay for current expenses. Fail to put unneeded funds in interest-earning savings account or investment plan for long-term goals. Sources of quick cash- no matter how carefully you manage money, there may be times when you need more than currently have available.
