In: Finance
Case study
Twins Laila aru' Lily are excited to be starting
collego next year. Laila is leaving horne
behind and heading to college in Florida while her sigtor Lily in
going to live at home and
attend a local university. up until now, they have always
use' cash or gift cards received
for holidays or birthdays to pay fcx their expenses. Any savings
they had was in their
piggy banks in their rooms. Now that college is almost here. they
realize that cash may
be the best option.
1. Why is cash not always a good Option?
2. What should Laila consider when picking a bank? What about Lily? Do they have different needs?
Part (1)
Cash is not always a good option. Reasons being:
Part (2)
They can have slightly different needs because they have different locations. Laila is leaving horne behind and heading to college in Florida while her sigtor Lily in going to live at home and attend a local university.
Laila will therefore need a bank that is strong nationally, that is not restricted geographically. Lily can do with a local bank that can give her personalized attention. They should consider following before picking a bank: