Banking Basics

The cost of living is the amount of money a person needs to spend on housing, food, transportation, clothing, and other items that they need to live. Learn all this and more in The Cost of Living. Contents Introduction Why Do You Need a Bank Account? What Is a Bank? What Is Money? How Do Banks Work? How Did Banks Begin?: Banking in the Ancient World Banking During the Middle Ages The History of Banking in the United States Modern Banks Checking Accounts What Happens When You Write a Check? What Are ATM and Debit Cards? What Is Electronic Banking? Balancing Your Checkbook What Happens If You Overdraw Your Account? Opening a Savings Account What Happens to Your Money After You Deposit It? How Do You Apply for a Loan? What Is Interest? Banking Math Paying Off Your Loan What is a Credit Rating and Why Does It Matter? Is the Money in Your Bank Account Safe from Thieves? What Is the FDIC? Do Banks Ever Fail? The Future of Banking Here's What You Need to Remember Words You Need to Know Further Reading Find Out More on the Internet Index Picture Credits About the Author and Consultant