Why do it ?
Sometimes saving money is difficult and people find themselves at the mercy of high-interest-rate loans rather than drawing on their own resources when financial needs arise. Form 8888 is a good way to save automatically, open new accounts, or add to existing accounts. By setting aside money that hasn't yet reached the individual's hands, there is an opportunity for painless savings. With the power of compound interest, the individual will see that savings mechanism go to work growing the account balance until the day the funds are needed.