Question about Banks???

[Trotter]

How you are doing it will work.

If you're smart, drop some of your paycheck into your savings account... and forget about it.

You are making money now, and you need to be saving some of it for later. Set an amout... $10, $20, whatever... and be faithful with it.

If you put $20 a week into savings, and invested it in something with a decent return (like a good money market account), you could retire without having to worry about a pension or Social Security.

 

[benzimm86]

To be able to use the Debit, you got to have a checking account. You rarely will find interest on a checking account.

This is not entirely true. Yes you do have ot have a checking account, but you can hook up your savings account to your debit card as well. I can withdraw, transfer or deposit money into either account using my debit card.

 

[bla!!]

Plus you arne't building any credit while the money is sitting in your pocket....

 

[homerj14]

yea thats true

 

[Jorsoft]

To be able to use the Debit, you got to have a checking account. You rarely will find interest on a checking account.

Just do it like I do:
Deposit all $ into savings account, then when needed do an online transfer of, say, $100 into the checking account. That way only a little bit isn't earning interest and is readily available for spending either online or off.
Not a bad idea at all to stick some into a money market account and just forget about it. The interest rates on those accounts are a lot higher and will earn you more money in the long run.