Online Money Resources

There are tons of resources online to help you manage your money. Online banking is available through most banks and allows you to manage your money without stepping foot into a bank! We present some examples of online banking and other helpful resources.

Step 1: Online Features of Bank Website
Bank websites feature many services offered in a branch. For example, on BankofAmerica.com, you can learn about their bank account options, sign up for online banking, online bill pay, and find a branch or ATM.

Step 2: Online Banking
Visit your bank’s website to find out if they have an online banking option. Most banks like Bank of America have online banking option. Learn more about online banking- visit www.BankofAmerica.com.

Step 3: What Information Do I Need To Set-Up Online Banking?
You need your account or card number, social security number or ITIN, and your e-mail address. With this information, it takes less than 5 minutes to set-up online banking.

Step 4: What can I do with Online Banking?
With online banking, most banks allow you to pay bills online, check your balance, transfer money to other accounts, get e-mail or text message account updates, and view or print processed checks.

Step 5: Don’t have a Bank Account? Open one today!
Did you know without a bank account, the average person spends 5% of their income at check cashing providers each year? So by having a bank account, you could save around $800 a year. Check out BankofAmerica.com and click on their “Bank” tab to learn about the different kinds of accounts Bank of America offers.
Need additional assistance with this lesson?
E-mail questions@club-digital.com or call 888-534-4820

Please note that the following lessons are educational in nature and intended solely to enhance understanding of the opportunities afforded by the Internet.  Companies and websites, as well as products and services, identified in these lessons are provided as examples only.  Neither Club Digital nor any of its sponsors endorses or recommends any of the companies, websites, products, or services identified in these lessons, and further disclaim any responsibility or liability for any activity by such companies, including the operation of their websites, or for any of their products or services.

 Sending Money to Loved Ones

Sending money to your friends and family is an important way to remain connected to the financial well-being of those you love. Many banks offer online money transfer services. We will show you a firsthand example of an online money transferring service that is offered by  Bank of America.

Step 1: Online Banking
Bank of America offers online banking, which provides safe and secure 24/7 access to your money. Transferring money to your friends and family is one of the many benefits of accessing online banking.

Step 2: Transfer
When you’re logged into the Bank of America website, select from “Transfer” tab to transfer money from your checking, savings, or money market account. You have the option of transferring money to accounts from any financial institution.

Step 3: Choose the Account You Will Send From and To
Use the drop-down menu next to “From” to access which account you will be transferring money from. Use the drop-down menu at “to,” to access which account you want the money to transfer in. In the “amount” field, enter in the amount of money you want to transfer.

Step 4: Frequency of Transfers
You have the option to select a one time, immediate, or future dated, time for transfer. You are also able to schedule transfers on a regular schedule.

Step 5: Review
After you have scheduled your transfer, you should review your transfer to make sure it is correct. Also, review your account to make sure the transfer has been posted.
Need additional assistance with this lesson?
E-mail questions@club-digital.com or call 888-534-4820

Please note that the following lessons are educational in nature and intended solely to enhance understanding of the opportunities afforded by the Internet.  Companies and websites, as well as products and services, identified in these lessons are provided as examples only.  Neither Club Digital nor any of its sponsors endorses or recommends any of the companies, websites, products, or services identified in these lessons, and further disclaim any responsibility or liability for any activity by such companies, including the operation of their websites, or for any of their products or services.

Build a Budget

It is important to manage your money responsibly with a budget. A budget allows you to review how you are spending your money, so you can make adjustments when you are trying to save for large purchases like a house or pay towards your debts. Below is one option for an online budget website. For example we use Mint, but be sure to research the best online budget website that works for you and your family.

Step 1: What is Mint.com?
Mint.com is a free online budgeting website that allows you to manage all your financial accounts in one place, track spending by category, and create a budget to achieve your savings goals. Most importantly, Mint.com is a safe, secure and trusted website.

Step 2: How does Mint.com work?
First, create a free Mint.com account with your e-mail address. Second, gather your financial account documents including bank, savings, and retirement account numbers and statements. You will enter all your account numbers into Mint.com and it will upload your statements and automatically categorize your spending.

Step 3: Track Your Spending
Mint.com allows you to track your monthly and yearly spending with automatic graphs and charts to show how you are spending your money. For example, Mint.com will be able to give you the exact amount you spend on eating out a month.

Step 4: Set a Financial Goal
Mint.com helps you view your progress in achieving financial goals. For example, you can tell Mint.com you need to save $3,000 for a down payment for a house or you need to pay off your $2,000 credit card debt. Then, Mint.com will create a tracker to tell you how much more time and money you have left to reach this goal, keeping you on track to meeting your goals!

Step 5: Creating a Budget
Once Mint.com is tracking your spending and you have established a financial goal, Mint.com can help you create a monthly budget to change the way you decide how you spend your money. For example, if you only spend $200 a month eating out instead of $300 a month, you could transfer the $100 a month you aren’t spending on eating out into your savings account for to save your down payment or to help pay off your credit card debt.
Need additional assistance with this lesson?
E-mail questions@club-digital.com or call 888-534-4820

Please note that the following lessons are educational in nature and intended solely to enhance understanding of the opportunities afforded by the Internet.  Companies and websites, as well as products and services, identified in these lessons are provided as examples only.  Neither Club Digital nor any of its sponsors endorses or recommends any of the companies, websites, products, or services identified in these lessons, and further disclaim any responsibility or liability for any activity by such companies, including the operation of their websites, or for any of their products or services.