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What’s the difference between a checking account and a savings account?

My dad is going to take me to get my own checking account and it’s my first time. He gave me a serious talk about how to watch my balance and it doesn’t MEAN I have to blow my money all the time. He’s pretty hesitant about me having one because I don’t know how to manage my money well and I tend to blow my money. Anyways what are the differences? I’m 18 going on 19 in October.

He said it would be a good thing so I will quit depending on him and he said I need to stop depending on him. He was very STERN and direct about it. My sister told me that I need to start acting like a young woman and no more asking daddy for money. She also said a real woman doesn’t depend on mommy and daddy for everything and they get tired of it.

Anyways I’m done rambling.

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Rolexeo · 26-30, M

Savings is money you want to save, checking is money you use for daily life

LaylaTheTallGirl · 18-21, F

@Rolexeo Oh okay. If I get a paycheck Which one do I put it in?

Rolexeo · 26-30, M

@LaylaTheTallGirl Most of it should go in checking

eyeno · M

Good advice From loved one's.

View 1 more replies »

eyeno · M

@LaylaTheTallGirl means they care about you.

LaylaTheTallGirl · 18-21, F

@eyeno I know they do and I appreciate it but sometimes they act “mean”.

eyeno · M

@LaylaTheTallGirl money is a very serious matter.

ViciDraco · 36-40, M

A checking account comes with checks or a check card in which you use to pay for things with money from the checking account. A savings account does not have these, as the goal of the account is to save money it is a little more difficult to access.

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