There is a saying, “Those who know interest, earn it, and those who don’t, pay it.” This is true about banking. If you know the rules of your bank, you’ll earn money, but if you don’t know about banking, you’ll end up losing some of your money.

By putting your money into high-earning interest accounts, like certificate of deposit accounts (CDs), you can earn a good chunk of money over the course of the year. I took some of my money from a savings account and placed it into a higher-paying interest CD. In a period of only three months, I earned the same amount of interest that I would have earned all year if I’d left my money in a savings account.

In order to make sure that the bank’s records are accurate, you should record all your financial transactions in a checkbook. At the end of each month, you can balance your bank statement with your checkbook to make sure that your money was not accidentally placed in a different account or placed nowhere at all.

By knowing just a few of the tricks about banking, you can save and earn yourself plenty of money over your lifetime.