Bookwormlux
Valued Contributor
A core savings account is one that would enable you to be able to save very high amount of money within a specific period of time, without getting to spend it easily , especially on things that are not necessarily important to you .
It's easy type of accountable you to have a high sense of financial discipline, especially with regards to your being able to save money .
It is not really going to make sense for you to think that you can use your normal bank account to save some money .
This is because , you always have access to such account and it will be very easy for you to feel tempted to use the money that is in the account any day you want to do so .
This is the major reason why you should, as an individual, try as much as possible to make sure you have a core savings account , where you would be saving good amount of money in it .
An account like this would enable you to make sure that you are not just spending so much without having anything to save .
The best strategy for this type of account is to make sure you do not collect any credit or debit card for the account at all .
It's easy type of accountable you to have a high sense of financial discipline, especially with regards to your being able to save money .
It is not really going to make sense for you to think that you can use your normal bank account to save some money .
This is because , you always have access to such account and it will be very easy for you to feel tempted to use the money that is in the account any day you want to do so .
This is the major reason why you should, as an individual, try as much as possible to make sure you have a core savings account , where you would be saving good amount of money in it .
An account like this would enable you to make sure that you are not just spending so much without having anything to save .
The best strategy for this type of account is to make sure you do not collect any credit or debit card for the account at all .