hammy sammy
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you should have both. Savings will give you a higher return for your money. Checking will pay the bills. |
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crashfeldman
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Go with both. You always need to save some. Checking accounts usually require alot of moola in the to make any interest. |
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Pam
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Depends on how you intend to use it. If you plan on putting money in and not taking it out very often, then a savings account is better. The interest rate is higher. You say you are 18...this is also true if you are still living at home and Ma & Pa pay the bills (I don't know if that is your situation or not).
A checking account is good if you regularly have money coming in and out....i.e. paycheck in and paying bills, buying stuff, etc. |
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jane h
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One regular checking and one Xmas's so that you have a real account that will have money in, as a Xmas's it rolls in to checking in nov or an emergency. |
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Veggie
 |
Savings accounts usually have minimums that must be met or else the fees start rolling in. Plus you get interest albeit very little.
Checking accounts give you more freedom, no minimum balance. Some have annual fees, some don't.
It doesn't hurt to have both however it all depends on how much money you have and how much spend. |
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Apple
 |
checking with a visa card |
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LD
|
A lot of banks offer packages that combine an savings and checking account. You can get especially good deals if you are still a student.
A savings account can earn you some interest but it is a good idea to have a checking account so you can have some liquid cash for expenses you may have. Even better if you can find a checking account that pays you interest! |
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Peggy H
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Savings account. Everyone knows how to write a check and spend money. I like to look at having a savings account as a challenge to see how much money I can put back and keep. |
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Hey Damn™ you
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try both..thats what my son did |
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Darby
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I think you need both. In general savings accounts don't pay much, but you can get an INGDirect savings account that's attached to your checking account that pays a little over 4 percent. You might want to find out if that's something that you are interested in. |
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metoo90
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Get a checking account and also put some money each paycheck into a ROTH/IRA account. |
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lesaint770
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for sure you need a checking account. being 18 you probably don't have enough cash to put in a savings account and maintain yourself. in a savings account, you have restrictions as to how easy it is to get your money out. once you have a steady job and income, you can set up a savings account. |
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INACTIVE
 |
It doesn't have to be one or the other. There's no reason a person cannot have both... the checking acount for routine needs and the savings for emergency funds. Make sure that both accounts are without fees or restrictions for balances. Make sure that the savings account gets deposits on a regular basis. |
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George
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For an 18 year old man, a checking account would be better becaus eyou don't have to carry cash around all the time and you can use your visa, unless your trying to save money. If so get a savings account and you earn intrest per month. |
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Debt Free!
|
you need both.
savings for your future
checking to show that you can at least manage money or that you're learing how to. helpful to know how to balance a checking account, especially if you are thinking of a family in the future.
set up a savings now through ingdirect. com or https://www.emigrantdirect.com/EmigrantDirectWeb/index.jsp. to build wealth, having time on your side is a huge plus. the time is going to be passing anyway. better to put away 20 a week than nothing.
and stay away from credit cards. pay cash. |
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veritas459a
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WHAT are you waiting FOR?
Thanks, RR |
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