If you are scared about the principle of banking school, you think it is too complicated or useless, you should reconsider. It is true, people have the tendency of minimize and to ignore all the information that is hard to understand, especially if it contains numbers and principles such as interests, commissions, accounts and hedge funds. On the other hand, the bank is the place where your money is deposited, and you should know more about it.
The basic banking school principles
For many of us, taking a credit from the bank looks like a right guaranteed by the Constitution. It does not implies obligations, we sometimes don’t even know why do we need the credit, we are just taking it because it is “in style.” It is more comfortable to by a new car with credit instead of waiting for years to have the whole sum. Inevitable, the first monthly rate comes, and you will have a revelation.
You will hurry to check all those useless papers given to you by the bank, and you will start asking questions about the monthly rate. Why is it so high? What is this “administration commission”? What is the “approval commission”? Suddenly, your car would not look so great and you will start feeling sorry for buying it. However, if you are following the courses of the banking school, you will know all those principles and terms from the start, so you will know exactly what to expect.
Why is the banking school necessary?
It is one thing to have a simple credit card from taking a credit. A card implies a monthly rollover, while a credit requires you to pay the rates for your credit each month. The banking school is able to teach you everything about the terms involved in a credit contract, from the commissions implied to the obligations of the bank towards you and your obligations as a client of the bank.
In this case, each initiative of a bank to start a banking school is extremely beneficial. You will understand the advanced principles of credits, cards, personal money management, investments, cost optimizing and much more.
You might find that information useless. Yes, the credit officer must know them, and you should not care as long as the credit is approved. If this is your thinking, you will end up asking yourself why do you need to pay 20 000 dollars in 10 years for a 10 000 dollars loan.
Tips and comments:
The banking school is a facility offered not only for the banking employees and students, but also for those people that want to know the principles of the financial services, that want to find the most effective credit option. It is an institution created for those people that want to be informed and also want to administrate their money effectively. How knows? You might like it so much that you would want to be hired in a bank afterwards. Well, the banking school could give you the basic principles, but if you really want to be hired by a bank, you will need to study some more.
