Your First Checking Account
If you start making or receiving money, you are probably worried about where to put it. Most financial professionals would advise you to open up a checking account.
With so many different types of accounts to choose from, you might decide that it’s easier to stash your cash in a piggy bank or under your mattress. Did you know that using a financial institution to keep track of your money is actually pretty easy—and it comes with some pretty great benefits as well.
When you use a bank or credit union, your money is insured. You can’t lose it, and you’ll always know where it is. Plus, when you save money in a real account, you can earn interest or dividends, which means you’ll make more money just for having your cash sit in an account.
Bridget Balance, our online specialist, is here to help you understand your first checking account so you can make great decisions leading to an amazing financial future!