What Piggy said last week is very true: sometimes we’re so eager to lunge ahead and answer the most complex, interesting questions that we forget to cover the absolute beginner basics. So this week I’m going to take you to church (or, I guess, school) on the difference between savings and checking accounts.
These are the two most common kinds of bank accounts in America. So if you’re new to banking, the first account you get will likely be one of these.
The features of these accounts were very consistent for several decades. But the past few years have changed the dynamics of how we use savings and checking accounts. And as a result, we’re changing our advice on how and what they should be used for. And even those of you who are rock-solid on this topic are going to want to hear that! (We think.)
So let’s get into it!Read More