Investments & Finance

Question by ♥ ♥ ♥: How does direct deposit to a savings account work?
My work requires direct deposit which I have going to my checking account. I want to open up a savings account, but I’m really bad with money so I need to set up a direct deposit into the savings account as well bc I won’t do it on my own. Do I have to set it up through my work or through my bank to have part of my pay checks go to a savings account?

Best answer:

Answer by just a thought
You do have to open a second bank account to deposit the money into. Then contact your HR department, tell them your intent and they will deposit the portion of your paycheck (you decide on the amount of course) into second account each pay period. The second account can be a savings account or a checking account. Some banks require a minimum account balance for a savings account. In this case, you can simply (and usually) get around this if it is too high for you by just opening up a second checking account with the same bank but use it as a savings account. This is the smartest thing you can to do to save money, good job!

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Question by joe: How to prepare for a career in Finance and Accounting?
I’m only a freshmen in college right now and I’m double majoring in finance and accounting. I was wondering how I can better prepare myself for a career in that field. Should I read some books or try to get hands on experienced. I’m looking to be a CPA or an Investment/Financial Analyst so how do I prepare for that. Any information you guys can give will help. Thanks a lot in advance.

Best answer:

Answer by Colleen R
Hands on experience is the best way to go. Here are some ideas:

*Try and get a part time job in the accounting department of a local business. This will help you build on your accounting knowledge.
*Join Beta Alpha Psi (accounting fraternity) or other accounting societies. It looks great on the resume and it is a good way to meet individuals that work in the Accounting Field because they usually come to the meetings and give presentations about their firms or different accounting topics
*Do an internship with a CPA firm. This is more of something to keep in mind in a year or two. But this is a great way to see if working in public accounting is what you want to do. Generally CPA firms hirer people to do internships the summer after their junior year.

I don’t know what school you go to but most accounting departments will hold recruiting events, such as “meet the firms” where CPA firms come to the school to meet students. So this is a great way for you to meet people at the different firms and determine which one is the right fit for you. These are generally geared towards Juniors and Seniors but it is never to early to go and start meeting contacts.

Hope this helps!

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by jesseducation

Question by Misty Mcbinterbost Mcbontoppy: What happens if I paid off my entire student loan but they still applied my tax rebate to it?
I paid off my entire defaulted student loan at the beginning of this month. I even received a paid in full letter. But today I just got a letter from the IRS that my 0 was applied to that loan by offset!! Apparently there wasn’t enough time between when I paid off the loan and then getting my rebate. I just tried to call the Missouri Department of Education, which my loan is through, but they are closed for the day. Does anyone know if I can get my 0 back???

Best answer:

Answer by T Taylor
You are going to have to contact FMS, or the Financial Management Service. They are the ones that actually collected the money from your tax rebate. (800) 304-3107 If you can provide proof to them, they should be able to get your money back to you, if they haven’t already forwarded the money to the State of Missouri

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