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I use to work in a bank many years ago and I'm wondering if they still offer individual housing accounts to save for a new home? Are there better options? I like IHAs because a regular savings or money market account leaves the money to available to dip into. My daughter is in her early 20's and I think its time for her to start saving.
That is really interesting. I actually have never heard of such a thing before. I suppose it makes sense, though. If you can have a Christmas account, you should be able to have a house account.
Why not open a "savings acccunt" and call it whatever you like?
I too agree with you!Quote:
Originally Posted by Classical Me
It's like Christmas accounts and such. They are gimmicks to get people to create accounts in banks. It helps the customer to set a gol and always know how much they have for a specific purpose.
LOL I agree with you. I think that's the idea housing accounts, Christmas accounts and whatever accounts. Like CM said, the main goal is the customers creating accounts in the banks.Quote:
Originally Posted by Robertbrown
Saving as early as possible is the best solution to any future financial crisis. So start saving at the age of 20 is good. You can analyze all type of bank accounts which facilitates the savings . But I suggest you should not save in shape of currency but in shape of such assets that gains value in future rather lose value.