In Progress

1) Banking & Cashflow

Checking vs savings strategy

Most U.S. banks will offer you two types of accounts at once. You need both, but you must use them for different reasons. The Checking Account (The 'Wallet'): This is for your daily spending. Your paycheck should be deposited here. Use this to pay rent, buy groceries, and use your debit card. It usually pays 0% interest. The Savings Account (The 'Vault'): This is for money you don't plan to spend today. It is kept separate so you aren't tempted to spend it. It is also safer; if someone steals your debit card, they can only access your checking account, not your savings.

Most U.S. banks will offer you two types of accounts at once. You need both, but you must use them for different reasons.
The Checking Account (The "Wallet"): This is for your daily spending. Your paycheck should be deposited here. Use this to pay rent, buy groceries, and use your debit card. It usually pays 0% interest.
The Savings Account (The "Vault"): This is for money you don't plan to spend today. It is kept separate so you aren't tempted to spend it. It is also safer; if someone steals your debit card, they can only access your checking account, not your savings.

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