Establishing a budget is key, especially when an emergency occurs. In order to manage your budget, you will need to identify both your income and your expenses. It is also important to identify your needs versus your wants during this specific period. For example, this may be a good time to cancel subscriptions like Netflix over the short term.
You don’t necessarily need a credit card to build your credit score, but it certainly can help—if you pay your bill off in full each and every month. A solid banking history and paying all of your monthly bills on time will build your credit. You could also become an authorized user on someone else’s credit card (your parents’, for example) and improve your credit that way.
Yes. National banks are private businesses. No Federal banking law or regulation requires a national bank to open an account.
The best way is to start exploring is through “America’s Best Rates” on Moneyrate.com. This website will give you a list of banks that offer consistent high yields. Then go to Bankrate.com to see if any of those banks are around your area. This website also allow you to compare all the banks within your city limits along with the interest rate they offer.
Many banks will consider their checking account to be free but require that you have a minimum balance amount in order to avoid fees.