A checking account vs savings account both have unique benefits, and should not not be thought of as the same thing – just another bank account.
I know, largely, they are similar – a FDIC insured location to store your hard earned money. Though, you are making life harder if you do not use the accounts for their intended purpose.
We’ll dive into the differences and uses of a checking account vs savings account below, but first some basic definitions are in order.[Read more…] about Checking Account vs Savings Account: How to Use Each One Efficiently