Thats Life Savings Assignment Bank of America checking

That’s Life! Savings Assignment

Bank of America: checking account � Minimum balance: none � Fees: › $12 monthly maintenance fee › Maintenance fee is applicable unless a direct deposit of $250+ is made each cycle or an average of $1500+ each cycle › No quarterly fees › No minimum deposit � No interest

Bank of America: savings product � Minimum balance: $300 � Fees: › › $25 minimum deposit $5 monthly fee if not at a minimum balance 3 free withdrawals After 3 free withdrawals, $3 per withdrawal � Interest: 0. 01%

Comerica Bank: Checking Account � Minimum balance: $750 � Fees: › $10 monthly for online payment (if not at minimum balance of $750) › $10 quarterly fee › $50 opening fee › Interest: none

Comerica Bank: savings product � Minimum balance: $400 � Fees: � Interest: 0. 01% › $5. 50 monthly fee (if not at minimum balance of $400) › $3. 00 withdrawal fee after 6 withdrawals › $50 opening fee

TCF Bank: checking account � Minimum balance: none � Interest: none � Fees: › No monthly maintenance fee › $25 opening deposit › No quarterly fee

TCF Bank: Savings Products: � Minimum balance: $100 � Interest: 0. 05% � Fees: › $4 monthly fee if not at minimum balance of $100 › $25 opening deposit

My Bank Ratings � #1 – TCF Bank › Lowest fees, highest interest rates � #2 – Bank of America › Lower fees than Comerica Bank › Higher fees than TCF › Lower interest rate than TCF � #3 – Comerica Bank › Highest fees › Same interest rate as Bank of America (lower interest rate than TCF)

My Savings Plan Right now, I keep my money in our safe at home. I put every paycheck I get into the safe and I have access to the safe so I’m able to take money as I need it. � In five years, I’ll be done with the 4 year accelerated nursing program that I am going into at UDM. At this point I will have a savings account. I will then be graduated as a nurse. That will either be the end of my schooling, or I will go further to be a nurse practitioner or a nurse anesthesiologist. I most likely will not have time for a job, therefore I will not be able to save much. I will be using my savings from previous years and cut back from excessive spending on thins I do not really need. When I graduate, I will (hopefully) have a full time job and will continue adding money to my savings account. � In 10 years I hope to be married. At this point I will still be saving money for retirement, emergencies, kids, necessities, etc. I will be paying off student loans. �