Banking Nightmare For Generation Z Solved

Context notes: The purpose of this article which will be published in the NY Times in the financial column is to give guidance to Generation Z on how to choose a suitable bank for their different banking purposes. Some of the services the paper will focus on include saving, credit card service, investment, and loan, especially student loans. It is a fact that a great percentage of the Generation Z has little experience when it comes to dealing with matters related to banking. As they enter adulthood, it is necessary to prepare them to be independent from their parents. The audience in this case will be the iGen. As determined by several researches, this generation will make up a greater percentage of the entrepreneurs in the near future as compared to the millennial and other generations before them. In essence, iGeneration is the future of banking and consists of those born between the years of 1995 and 2005. They were born during the digital age and use digital technology in form of phones, tablets, and other electronic devices. As they are entering the adult world, there is need to offer guidance to them to help choose the appropriate bank to take care of their money matters. Due to their preference for digital technology, the social media and other websites will serve as the appropriate places to reach out and appeal to them. Using various methods, the audience will be taught how to choose a bank for different purposes. Keywords: Generation Z, Banking, Saving, Investment, Digital Age, Digital Technology, Credit card, Students Loans Banking Nightmare for Generation Z Solved Introduction Across the world the need for exploring and understanding banking by you, the iGen, has increased in the recent past years as most of you are not experienced in banking. When it comes to financial matters you have proven to be more knowledgeable. You are generally careful with finances as shown by your spending less and saving more. As a saving generation, you are much concerned about student loans whereby most of you do not wish to be burdened by it like the others before you and thus choose to start saving early. Still on the same, most of you have embraced the use of prepaid cards as a way of limiting spending. You make up the largest group across the world with majority of you who have not attained financial stability, and have little experience in dealing with financial matters. The aim of this article is to inform you on how to choose a bank for services such as saving, proper spending habits, investments and loan services with the aim of guiding you on key factors that you should consider for different baking services. Saving When it comes to saving, the first main concerns of choosing your banking is the convenience. In order to make spending and saving easier and fast (Picher, 2015), choosing a bank like Bank of America with more than 5,000 branches across United States is one of the best choice for you (Hess, 2014). More importantly, a bank with high-tech, user-friendly, and easy-to-access App or online banking platform will be another factor for you to consider. Frost Bank has its app and online banking platform with many power functions, which perfectly fit your demands. For example, Frost Bank offer “Digital Wallet”, an intangible debit card on the App, allowing customers simply to make a purchase by using their smartphones. Due to the requirement of a device-specific number and unique code, this intangible debit card is far safer than actually carrying your actual debit card. The most powerful function of Frost Bank digital platform is the “Freeze Your Card”. If your card is lost or stolen, you can freeze and unfreeze the card easily through the App or online banking with no need to call the customer service (Frost Bank). In that way, it increases the efficiency of dealing with such lost or stolen problems. Credit Cards Credit cards have become a major financial tool across all the ages and those banks that offer higher interest rates and rewards are the most preferred. Since most of you have not attained financial stability, choosing a good credit card with no annual fee is crucial for you. In this regard, the Bank of America (BOA) is one of those that would be suitable for you. Even though its focus is on high earning individuals, banking with it will definitely ensure one enjoys these benefits. The U.S Bank is also known for its rewards on the credit cards. Since you have a high concern for the future, credit cards from a reliable bank can come in handy in ensuring that you build your credit. This is important for the future when an individual wishes to get loans at a quite fa...