We answer these and other questions in our guide to banking basics with Everfi Banking, one of the leading providers of financial literacy education in the United States. This guide also serves as an introduction to our partnership, which will provide financial literacy education to UMB’s consumer banking clients under the auspices of providing education on consumer banking products and services.
Everfi To Provide Financial Education
If you’re reading this, you likely already know that learning a little bit about Buddy Banking can go a long way. With financial education, an extra $100 in your pocket each month could add up to thousands over time. The good news is there are more ways than ever before to learn about money management, risk, and how to get your finances on track: from books to blogs and even games. I’m excited to announce that UMB Bank has teamed up with a leader in financial education Everfi Banking to offer our employees personalized financial guidance tailored to their stage of life. This partnership is part of our commitment to helping employees understand finance basics so they can make smarter decisions with their hard-earned dollars.
Financial education can help you find a way to save for a specific goal, such as a vacation or retirement. It also helps you understand how credit cards and student loans work and teaches you how to read an income statement. Whatever your stage of life, there are lessons available to you on topics ranging from basic banking skills to college planning for your child. With mobile apps, computer games, and online classes, it’s never been easier to learn about money in your spare time at home or work. Don’t put off learning about finances any longer you’re only getting older! The team at UMB Bank is excited about our partnership with Everfi Banking and we look forward to helping employees of all ages reach their financial goals.
Why UMB is Partnering with Everfi
According to UMB, Everfi Banking will provide banking basics answers to consumers enrolled in UMB’s credit-card debt program. The idea is that if people have a better understanding of how credit works and how loans are assessed via small monthly charges on their credit cards, then they’ll be more likely to make good choices about borrowing. For instance, if you’re deciding whether to finance a big purchase with a credit card or take out a loan from your bank, you can use those basics answers to help inform your decision; it doesn’t sound like ever will explicitly tell you which option is best for you, but at least it can give you information about both.
That’s why UMB is partnering with Everfi Banking to provide banking basics answers to consumers enrolled in its credit-card debt program. The lessons are designed to help those enrolled in our program make more informed financial decisions, president of consumer banking at UMB. Now is a great time for consumers to learn how and when they should use credit. Which requires some basic information from users but doesn’t need access to your social media accounts. Users can then complete specific courses on topics such as home buying, marriage and divorce, retirement planning, student loans, and federal debt relief.
Why Would You Put Money Into A Savings Account Everfi?
You’ve probably heard that it’s a good idea to save 10 percent of your income. It’s pretty simple saving money helps protect you from life’s ups and downs. If something goes wrong you lose your job, your car breaks down, or you need to pay for Everfi Banking unexpected medical expenses you can rest easy knowing that your savings will take care of you. In other words, savings is safety!
Although all savings accounts are different, there are a few basic things to look for. First of all, you must have access to your money when you need it. As a general rule, if an institution’s name doesn’t end in the bank, then they don’t have Federal Deposit Insurance Corporation insurance. That means if something happens to that bank say they go out of business you could lose your money. Make sure your savings account has FDIC insurance so you can be safe knowing that even if something goes wrong with your bank, your money is protected.