FAQ

Creating a budget starts with understanding your income and expenses. Begin by tracking your monthly income and categorizing your expenses, such as housing, transportation, groceries, and discretionary spending. Allocate a portion of your income towards savings and set realistic financial goals. To stick to your budget, regularly review your expenses, make adjustments if needed, and prioritize your spending based on your financial priorities.

A savings account is designed for accumulating funds over time and earning interest on your balance. It offers limited access to your money and generally does not come with check-writing capabilities. On the other hand, a checking account is primarily used for everyday transactions, such as paying bills, making purchases, and withdrawing cash. It typically allows for unlimited transactions and often provides a debit card and checks for easy access to funds.

To start investing and build wealth, it's important to have a clear investment strategy and understand your risk tolerance. Begin by setting financial goals and determining your investment timeline. Consider working with a financial advisor who can provide guidance tailored to your needs. Explore different investment options, such as stocks, bonds, mutual funds, or exchange-traded funds (ETFs). Diversify your portfolio to manage risk, and regularly review and adjust your investments based on market conditions and your goals.