Question

How does understanding how banks function make you a smarter consumer?

Answer 1

Answer:

The ability to understand how banks function can make you smarter through the knowledge of minimizing your risks due to exposure to credits and maximizing your profits through buying of high-risk networth bank instruments.

For example, obtaining credits facilities from the bank might seems like the best option intially but it is laced with challenges especially when you default in payment. This will affec your credit score.

On the otherhand, the ability to buy foreclosed houses at a cheaper prices from the bank while selling at a higher price to people helped you to make profits.These knowledge could only be possible through your understanding of how the bank works.

Explanation: