Checking & Savings Accounts Explained in 3 Minutes
Checking & Savings Accounts Explained in 3 Minutes
In this video, you’ll learn about checking and savings accounts, how they are different, and why you need both!
A checking and savings account allows you to spend and save money responsibly. They are arguably the two most important accounts you’ll have for your entire adult life. Here is what you’ll learn:
– What Is a Checking Account?
– What Is a Savings Account?
– Why Do You Need a Checking & Savings Account?
– When Should You Open a Checking and Savings Account?
– Is a Checking or Savings Account Better?
– Are Checking Accounts Necessary?
– Are Savings Accounts Necessary?
In under 3 minutes, you’ll be a master at explaining and using your checking and savings account. This is a video everyone needs to watch if they want to master personal finance.
Timestamps:
0:00 Checking & Savings 101
0:21 What Is a Checking Account?
1:17 What Is a Savings Account?
2:06 Savings Account Interest Rates
2:23 Online Savings Accounts Explained
2:36 Checking vs. Savings Accounts: Which Is Better?
3:10 Checking and Savings Recap
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#money #personalfinance #savings #bank
How much money we start for savings account 🤔
Great overview. Both accounts are super important and necessary for those who want to manage their money successfully.
Can you open a checking account for bankmobile disbursement (financial aid purposes) if you don’t have a job
Does the bank keep the opening deposit when you open a savings account? Also if they don’t keep it am I free to withdraw it at any time?
So saving account can’t pay bills online
Bailment😘😘😘
A checking and savings account is a good thing right
wrongo
a checking account shows you your balance
as soon as what ever direct deposit you have coming in hits the bank
poof it is gone it called double spending
off it goes to become more money in many ways
a loan
a hedge fund
so that the bank makes more money
and they tax you to take your money
2.00 2.50 but what interest are you getting zero
digital age means they can create money unlimited
same thing with your savings account
unlimited them
4 percent you
nooooooooooo
the digital age is supposed to be decentralized
the bible agrees
it says decentralized finance
meaning you are the bank
the interest
goes to you
the loan interest goes to you
the hedge fund loan goes to you
so your money no matter the size of it makes money for you
i call it my change jar economics
picture a change jar like your mom or aunt or grandma had
and instead of you filling it with change
your bank account drips it in every day, hour, minute in some cases every second
you had $30.00 at the beginning of the week
at the end of the week you have $260.00 dollars from the drip
you allow it to go back into the system and the next week you have 520.00 dollars
then the next week you have $1040.00 it grows rather quickly creating generational wealth or needed money in an emergency
simple clever, thank for your video