Checking vs Savings Account
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- Опубліковано 31 тра 2024
- Checking vs Savings Account: The differences explained in simple terms. Chances are you have both a checking and a savings account at your bank or credit union. But do you know the main differences between a checking account and a savings account? In this video, I go over what makes these two essential accounts different and how you should use each to manage your money in the most effective way.
What types of accounts do you use? Let me know in the comments.
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FOR EDUCATIONAL AND INFORMATIONAL PURPOSES ONLY. NOT LEGAL OR FINANCIAL ADVICE. The information provided in this video and on this channel is for educational and informational purposes only. It is not intended to be a substitute for legal or financial advice that can be provided by your own attorney, accountant, and/or financial advisor. Practical Personal Finance accepts no liability whatsoever for any losses or damages arising from your own personal financial decisions. You are advised to consult with your financial advisor, tax professional, or attorney regarding any and all financial decisions involving your own income and taxes.
Thank you so much for taking the time to make this in such a comprehensive way for people like myself who were never taught a thing about finances. Knowledge is power and you sir are a great teacher. I just found your channel and about to binge all your videos lol
This was an excellent video, it really helped me understand something I’ve searched, for a while now.
I have both recently opened. Thank you for this video.
Thank you for the banking lecture professor 😊❤
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Can you get one or the other, just have a savings account and can you then get a card to use at the banks ATM?
I'm 44 years old and don't have either one.... cash only! No checks, no cards, cash only... or trade for gold or physical items.... most banks won't most checks.... I tried a checking and sa vines account once and the bank kept stealing the money so I closed both
My question is when you put your money to save can you used it to buy something at the store
No, that's mostly not possible.
savings sccount: withdraw cash at atm but no debit card? then how the person withdraw cash over atm lol
i think checking account only exist in USA. I dont see any difference between savings and current account in my country
Informative content!
Lovely 💯
😊 thanks
You’re welcome!! 🙂
Wonderful video!
Well explained! Your vid truly helped me. Thank you and subscribed!
Glad I could help! Happy to have you as a subscriber!
Which is the better one
A checking account account
Great breakdown of checking and savings. I love these types of videos, finance 101 baby!!!!!🎯
Sometimes I start thinking "Man this stuff is too simple." But then I remember not everyone knows it, and it's going to help someone out there!
@@PracticalPersonalFinance like me😆
As a student can you suggest me the types of account I can be using in my beginning years?
Good explaining the foundation. Unfortunately,lots of people don't have accounts. Still using check cashing spots.
You're absolutely right and I don't know if people realize this is the reality for so many Americans. Sometimes when I'm working on my video topics I think to myself, man this stuff is just too simple - doesn't everyone know this already? But then I remember that not everyone was afforded the same opportunities that I was. Hoping this video and others eventually finds the right people!
Playback speed 1.5x deserves the thumbs up
It's all about talking slowly and clearly!!
1.75 speed way better
Great video….you earned a sub and bell 🔔 from me. Do one about car loan do’s and don’t’s. Well actually I have tried all the don’t’s lol. Anyway thank you 🤓
Savings Account
no thanks im not investing into anything from banks. I rather invest in real tangible assets and stocks and crypto.
Do you have to pay for a bank card?
Nope! Debit cards should be included for free with a checking account!
Thanks much
The best account I have is my investment account
Absolutely!! Are you in a retirement account or a non-tax advantaged brokerage account?
Oh yeah, I have two checking accounts. One is for all the automatic payments like Netflix, all the apple apps that randomly (everyday it seems like) hit my account and most of my other bills. That leaves the other account for gas, food and all the other stuff that I buy day to day.
Same, I have two debit cards with two different banks. One is my main spender card that gets the direct deposit & the one I mainly use to spend on anything & the other car I kinda consider it a savings account lol