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Checking Accounts: How You Can Access Your Money - Wealth 101
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Checking Accounts: How You Can Access Your Money

Checking Accounts: How You Can Access Your Money

People use numerous strategies to grow their money over time, but the first step in that journey is almost always the same: setting up a checking account and a savings account at a financial institution.

In this infographic, we clarify the difference between the two accounts for beginners, and provide some basic tips on how to safely manage your money day-to-day.

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Think of a checking account as an account for now, and a savings account as an account for later. You can move money with ease between both accounts depending on what you need it for, and when.

It is important to make sure your finances are protected, by managing your account from all directions:

  • Check your banking activity regularly
  • Keep all receipts and compare them with your monthly statement
  • Keep your account and card details private to guard your data
  • Don’t store online banking login details on your devices in case of theft
  • Sign up for account alerts in case of suspicious activity
  • Set a strong password for online banking and update it frequently

Understanding the purpose of each of your accounts will allow you the control to grow your money in the long run, and more importantly, keep it safe.

Learn more

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Jeff Desjardins

Jeff is the Editor-in-Chief of Visual Capitalist, a media site that creates and curates visuals on business and investing. He has been quoted or featured on Business Insider, Forbes, MarketWatch, The Huffington Post, The World Economic Forum, and Fast Company.

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