Ramses Delgado, Banking Moderator
@ramses_delgado1
If it's better to keep your money in a checking or savings account depends on your goals. For easy access and daily spending, checking accounts are ideal. Savings accounts are better for growing your money over time with higher interest rates.
Checking accounts are typically used for everyday spending and transactions, such as purchases, bill payments, and ATM withdrawals. They offer easy access to funds but usually earn less interest or none at all. Meanwhile savings accounts are better suited for storing money that you don't need immediate access to. They help your funds grow by typically offering higher interest rates.
In many cases, the best approach is to have both checking and savings accounts. You can keep your everyday spending money in checking and transfer your savings goals to a savings account to grow over time.
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