So you've realized it is more realistic to keep the money in the bank rather than under your pillow eh? Welcome to Banking. You know in America and European countries most people open their first checking account by age 20 simply because that is how it has been for years (note: that doesn't mean everyone manages it properly). Nevertheless, Tanzania is new to the banking system and although banking is slowly growing, it hasn't fully matured yet. But in fact, banking is a secure investment, and thanks to modern banking - it makes it easy to handle your account. These are six simple steps that you should follow if you are about to open up a checking/savings account.

1. Keep Good Records.
The more informed you are about your checking account, the better equipped you'll be to read and analyze your bank statement. "You must have something in order to compare it so you know whether it's right or wrong," -- remember that. That basically means keeping track of all account activity.

2. Keep Bank Records/Information.
Whether you withdraw money, receive a bank "statement" or any documents - keep it and put it in your records for future reference. Why? - first of all, there may be mistakes, (yes - mistakes). If there is a mistake, report it to your bank branch quickly to ensure that they will get it corrected as soon as possible. Banks can disavow errors if they are reported more than 60 days after the date of the statement.

Secondly, the fewer days that pass between when the bank issues a statement and when you read it, the more in synch your records will be with the bank's numbers. This way you will remember transactions or how you spent your money.

3. Spend quality time with your account.
Managing and keeping records of your account is good, but don't stop there! You need to spend 'quality' time with your account. If information will be listed on incoming cash to your account, know when and from whom. For checks paid and deposits credited, make sure your records jibe with the bank's books. You need to always know how much is in your account - at all times, this way you can make definite plans and assumptions. Check your balance daily by visiting an Automatic Teller Machine (or online if possible) and remember not to throw away the receipt.

4. Call your bank immediately if you find a problem.
You'll be glad you closely followed your account's paper trail if there is a error, in your favor of course - otherwise why report? Banks do make mistakes - besides the people who work in them are human, just like you and me. If you report problems quickly, they're likely to be fixed quickly and not escalate. So you'll have access to your money there and then rather than being inconvenienced when you are trying to pay the bill after a perfect dinner date. It's also easier to track things when they just happened versus six months ago. And by being prompt in your account reconciliation, you show the bank that you are trying to stay on top of your finances. That diligence could later pay off. For instance, if your check bounces and it's the first time, ask for forgiveness including waiver of any fees - if you are loyal customer bank often waive their policies - many people do not know that. (Don't expect it the tenth time though).

5. Check daily balance summaries.
Especially if your account type requires a minimum balance. If your account is likely to have just enough to cover the minimum balance (usually Tshs. 100,000), then you should make sure you never go under this. People that fall into these categories may want to keep closer tabs on daily balances to make sure their accounts are in compliance.

6. Keep tabs on your account between statements.
OK, maybe only truly obsessive people review their accounts daily. But periodic checking on your account between printed statements does make sense. That's the case when you are expecting an out-of-the-ordinary transaction: Did that big bonus or commission check clear yet? This is particularly important because you will know for future reference about how long checks will take to clear.

Most of these tips don't take much time or effort. Once they become a part of your financial routine, you'll find it's easy maintain a healthy checking account. Now, next step - compare banks in Tanzania and find out which is the right one for you.