Definition
A bank account for everyday money needs. You can deposit checks, withdraw cash, pay bills, and often use a debit card.
What to consider
- Make it a habit to review your transactions regularly.
- Use it as the main hub for your day-to-day spending.
- Set up alerts to catch any mistakes early.
Real world scenarios
- Logan uses his checking account for bills and everyday purchases, frequently checking the balance to avoid overdrafts.
- Every payday, Ava transfers a set amount from her checking to her savings account, automating her progress toward goals.
- Esther sets up direct deposit with her employer, so her paycheck arrives seamlessly in her checking account every two weeks.
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