Answer to Question #296793 in Management for SWOT

Question

Question 3: Twins Anna and Aayan are excited to be starting college next

year. Anna is leaving home behind and heading to college in Bangalore

while her brother Aayan is going to live at home and attend the local

university. Up till now they have always used cash or gift cards received for

holidays or birthdays to pay their expenses. Any savings they had was in

the piggy bank in their rooms. Now that college is almost there, they realize

that cash may not be the best option.

Required:

1. Why is cash not always a good option?

2. What should Anna consider when picking a bank? What about

Aayan? Do they have different needs?

Answer 1

1. Handling cash currency is difficult always especially to its bulkiness and hardship in a transaction. Cash handling renders their daily expenses to look ambiguous.
2. The genuineness of the bank is one of the outstanding factors, which Anna should consider while Aayan should choose a bank depending on the topography and the infrastructure. There are huge differences between the two individuals especially the distance and locality of their institutions.