Personal Finance Saving Options

There are many options available to the consumer in the form of products and services offered by banks and credit unions. Although some may opt for the more traditional route of a simple savings account, others may wish to participate in a newer form, which is known as the money market account. A money market account is very similar to a traditional simple savings account with a few subtle differences.

The money market account normally pays a significantly higher interest rate to those who hold these types of savings accounts while the traditional simple savings accounts are normally pretty low. Also, money market accounts may have stricter rules when it comes to the withdrawal of funds from these accounts. Money market investment sometimes require the consumer to deposit money into this type of account and allow the money to “season.”

Seasoning means that the money will have to sit in the account for a due amount of time before the bank or credit union will allow one to withdraw his or her money. They may also have specific rules concerning the amounts of withdrawals one may make over a given amount of time. Another difference when looking at a money market account over a traditional simple savings account is the minimum balance.

One should remember that he or she is earning a higher percentage rate in this type of account over a normal savings account. For that higher interest rate, many banks or credit unions may require a higher balance to be held in the account than they may require for a savings account. This higher balance means that if one withdraws money even for emergency situations from this account, he or she will be charged a penalty if the total balance falls below their minimum requirements. This is something one must truly consider when opening up a money market account over a traditional simple savings account.

Types of Jobs in the Accounting Career

There are many kinds of jobs you can select from while trying to make an accounting career. Right from accounting clerks and supervisors to the auditor, accounting career forms for a wide variety of job responsibilities. A lot of people do not know this. Read on to know the main types of jobs that would suit your accounting career.

Accounting Clerks

These are the people who coordinate and supervise the activities of other people. These activities include typing, verifying, posting and calculating duties. This kind of job mainly deals with the correct record of financial data. These data are then used for maintenance in statistical and accounting records.

These kinds of records can be demanded either by government or management agencies. The duties are generally performed under the head of the bookkeeper and the accounting clerk. The master title for this kind of work is called “Supervisor”.

Repossessor

The main task of this kind of accounting job is to identify the debtors and delinquent accounts. In case of such accounts, they solicit payments. If the account does not pay, then merchandise is removed from it. This kind of accounting career might require you to initiate “repossession” proceedings.

This might also require you to know driving as you might have to provide transport facilities for return of goods to the creditor. If for instance, the debtor is unable to pay the money, the repossessor might also be required to drive the vehicle back to the creditor. If he is unable to open the car for this operation, he will have to use “special tools” for this purpose.

Bookkeeper

The main job of the bookkeeper is to use computers and calculators to keep a record of the financial transactions for the company. They record the financial transactions by means of allocating, verifying and posting of business transactions to the subsidiary accounts. These accounts are present in either computer files or journals.