The two things it may seem you never have enough of are time and money. The good news is, time might slip away from you as you handle all of your daily demands and responsibilities, but your money doesn’t have to follow suit. You can never start too early taking steps to improve your financial security. 

Checking Accounts Are Important

In years gone by, people used to stash money away in their homes to try to prepare themselves for life’s unexpected curveballs. Building that financial safety net is important, so it’s critical you get a free checking account. Checking accounts offer the benefits and safety that hiding money under your mattress won’t offer you. 

Most consumer banks offer safety and protection by insuring your money through the Federal Deposit Insurance Corporation (FDIC). If you keep your money in your house, you have no way to guarantee it’s safe from such things as natural disasters or a criminal depriving you of the cash you keep in your home. 

Having a checking account also offers great convenience. Without such an account, cashing payroll checks can be difficult and expensive. Some banks and third party financial institutions charge either a fat rate or a percentage of the cash value of your check. You can avoid unwanted fees and aggravation by having your paycheck automatically deposited into your account.

Not only can you have your paycheck directly deposited into your account, many banks and credit unions offer benefits to their members such as free bill pay. Imagine never having to worry about missing a due date again because the money will automatically be debited from your account. Through a free bill pay service, you set up every last detail from the date the payment should be made to the exact amount you want to be paid. 

Easy Access

Financial institutions make accessing your money effortless through the use of a debit card. You are able to pay for purchases with a card that takes money directly from your checking account. Keep in mind, there are usually fees associated with spending more money than you have, so be sure you keep a close eye on your balance.

Keeping track of your checking account activity is easy through either online access or banking apps. Any information you are looking for is available to you any time of the day or night through those portals. You no longer have to make sure you make it to your branch during business hours. You can check your balance, recent purchases, pay bills or various other tasks from the comfort of your home or anywhere. 

Using bank accounts, namely a checking account, also helps you to track your spending. Every purchase and deposit is recorded and at the end of the month, a statement is available that shows all of your banking activity. Make sure you examine that closely to make sure all of the purchases are your own. 

Nothing is infallible; on occasion, banks can enter an account number incorrectly. Worse yet, someone may have found a way to access your money. With increasing technology and the prevalence of online crime, it is in your best interest to stay on top of your banking activity. 

Save Money

You can also have varying amounts of your paycheck directly deposited in different accounts. You should figure an amount that works with your budget and put it straight into a savings account. The easiest way to save money is for it to be done automatically and effortlessly. 

Take control of your income and use the free services your banking institution offers and start building your savings account; the sooner the better!