The federal, state, and some city governments collect income taxes. Also, local governments collect property taxes on homes, buildings, land, and sometimes personal property such as automobiles. These taxes help support many of the services used by all residents, including refugees. Banking To keep their money safe from loss or theft, Americans generally keep their money in a financial institution such as a bank, savings and loan association, or credit union, rather than at home or with them. Financial institutions pay interest on the money kept in some types of accounts, but usually charge fees for services such as checking accounts or credit cards.
Most people have a checking account from which they write checks to pay their bills.
Many businesses offer goods and services on credit to enable people to buy things they cannot otherwise afford. Newcomers should be cautious about using credit cards or credit plans to buy such items as appliances, furniture, or automobiles. The total cost of such purchases is especially high because of interest charges added on to the price. If a purchaser misses a payment, the company can take back the product without refunding the money already paid, and the purchaser may have problems obtaining credit or loans in the future. Refugees should set aside part of their income to repay their travel loan.