My financial situation is not stable at this time. My mother sends me money every month so I can cover my expenses and buy everything I need. I don't have many monthly expenses, especially phone bills, groceries, clothes. I have no debts. I only use the money I have in my pocket. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essay Chase bank doesn't require much to open an account. They offer a student account for students like me to make things easier for us. To open a student account all you need is a government issued ID or passport and for international students the I-20 is required. With a student account you do not have to pay an annual fee. To open a savings account it is the same procedure. Their average savings and account interest is 0.03%, but you must have at least $300 in the account otherwise you will be charged $10 every month if you don't have the required amount of money. I need both. Plus, I have both. I don't have a credit card at the moment, but I plan to get one in the near future. Credit card benefits are building a credit score. A good credit score will allow you to rent, rent, buy or take out a loan so easily. You get more protection if you pay with a credit card instead of a debit card. Also, a credit card allows you to buy anything you want and can't afford at that time, you use your credit and pay it off at the end of the month. Credit reporting agency and based on the information they have about consumers, they come up with a credit score. When a consumer applies for a loan, whether it's a home, a car, a credit card, a personal loan from a bank, and so on, the lender requests information from companies like Equifax, Experian, and TransUnion. The agency will then send your credit report and credit score to the lender. Based on that credit history, the lender can then decide whether to give you a loan, or not give you one, and what your interest rate will be. Fair Isaac Corporation (FICO) is another major company in the credit industry. FICO developed and maintains the FICO Credit Score, but is not a credit agency. While FICO compiles credit scores based on data from the major credit bureaus, they do not collect credit report data themselves. Finally, credit can hardly influence your financial future. If you start out with bad credit, it may be difficult and take longer to fix. Having insurance is really important for anyone, especially for people in the United States. There are different types of insurance. There is life insurance, health insurance, homeowners insurance, car insurance…etc. Personally, the most important insurance is health insurance. Health insurance basically covers healthcare expenses, such as doctor's visits or medicines. Life insurance is a contract between the policyholder of an insurance policy and an insurer, in which the insurer promises to pay the designated beneficiary a sum of money in exchange for a premium, upon the death of an insured person. Car insurance covers any accidents or damages that occur in your car. The cost of insurance varies based on the person's monthly income, age and assets. There are various types of car ownership. If you plan to buy a car, you can lease or buy it. In any case it had advantages and disadvantages. The main advantage of theleasing a car is that it allows you to take a car for a certain number of months, and after that, you can return the car or buy it. Plus, when you lease a car you can pay less sales tax, and warranties last the life of the lease and cover maintenance costs. A possible disadvantage is that with a leasing you lose the freedom of the car. Expect the dealer to charge you for every extra mile used to exceed the limits. Additionally, breaking your lease incurs costs and the dealer may require you to have more car insurance. If you decide to buy a car, you can choose to purchase it through cash that you pay the full amount immediately or you have chosen to use financing. The benefits of buying a car are that you don't have to worry about annual mileage limits you can drive, nor do you have to shell out dollars as compensation for damages such as stains on the upholstery or scratches on the paint. Plus, you can sell your car at any time without penalty. Plus, as you pay off the loan, you build equity in your car, which you can turn into a down payment on new wheels. Despite this, buying a car with credit or cash also has some disadvantages. When you buy a car, you pay the full value of the vehicle, unlike when you lease. This means you'll get less car per dollar of your monthly payment than you would if you leased. If you decide to keep your car for a while, you'll need to factor in repair costs once the warranty expires. When you're ready to sell your car for a newer model, you'll also have to deal with the hassle of selling or trading it in. Additionally, cars depreciate in value, making them a poor long-term investment. In my case, if I ever get a car. I will choose to rent it, simply because its benefits are more convenient for my situation. To buy a car first, you must first consider your financial situation. What type of payment do you intend to choose and finally which retailer do you want to deal with. There are several different types of homeownership options in the United States. The first common is Tenancy in Common. This type of simultaneous ownership is used with at least two groups where each group has an unmistakable and independently transferable intrigue. The second is joint tenancy with right of survivorship. This type of possession exchanges ownership starting from one meeting and then to the next after death. At least two groups can enter into this type of ownership when they want to maintain ownership responsibility between those groups. This is basically the same as tenure, same as the added benefit of survival. The last one is Lease by the whole. This technique for holding title must be used by common law partners or accomplices and only in the primary place of residence. With this type of ownership, the property is then exchanged with a surviving or accomplice spouse upon the death of the other cohabitant, however it has the added benefit of protecting your property from both spouses' loan heads. FHA is a government program for first-time homebuyers. This program offers a 30-year fixed rate FHA mortgage combined with down payment assistance. Borrowers must contribute at least 1% of the loan amount towards the down payment; the other 2.5% can come from down payment assistance or other acceptable FHA sources. Borrowers must have a job, good credit and meet income and purchase price limits, and a minimum FICO score of 640 is required. To buy a home you must first think about the type of home you intend to get. Also, how do you plan on paying for that house with cash or credit? Personally?