HomeFinanceBest Ways To Manage Both Your Checking And Savings Accounts

Best Ways To Manage Both Your Checking And Savings Accounts

Checking and savings accounts are both valuable tools for managing your finances. A checking account allows you to keep your money in a bank and use it anytime you need it, whereas a savings account is an account that lets you earn interest for your deposits. Getting both these accounts is easy; you can get a Citi checking account, and savings account or from any financial institution, and some of them will even give you bonuses for creating new accounts. Even though their functions are distinct from one another, they are both of substantial assistance to your financial situation.

A good understanding of how to use these accounts effectively will safeguard your finances, making it much simpler for you to achieve the savings objectives you have set for yourself. Follow these tips to help you to acquire a better handle on your accounts in no time.

  1. Always know your account balances.

You can get a more accurate view of your current financial situation by monitoring the balance in your accounts often. Doing so can help you with various responsibilities, including budgeting, planning for occasional and unexpected expenses, and paying off your student loans on time, among other things. In addition, keeping an eye on your account might help you steer clear of incurring overdraft fees by preventing your balance from falling into an overdrawn state. Opening a Citi checking account is also a great way to help you track your money; Citi offers many features that make it easier for their users and also gives bonuses, which is a plus for your finances.

Logging into your account through your bank’s mobile app or website is the quickest and easiest way to view the current balance in your account. However, there are also some extra things that you can do to check the balance of your account, such as sending a text message to your bank, going to the bank that is located the closest to you to inquire about your balance, or checking your balance at any ATM.

  1. Automation

Automating your money is one of the most accessible ways to manage your account and save time simultaneously. If your banking institution provides a mobile application, then it is best for you to download it. By switching to mobile banking, it will be much simpler to monitor your account’s status. 

In addition, using the mobile app provided by your bank makes it simple to perform actions beyond simply tracking the balance of your bank account. You may safely transfer money between your checking account and your savings account, as well as set up automated notifications, deposit checks, and pay bills with only a few taps of your finger. You may also have access to shopping discounts or crucial real-time information about your credit score, but this will depend on the bank that you use and the sort of account that you have.

It is much simpler to maintain good financial health if you are able to manage your bank account using the mobile app provided by your bank. This can be done anywhere and at any time.

  1. Avoid fees

There are monthly maintenance fees associated with many bank accounts, mainly checking accounts, if you have one, but if you can satisfy specific requirements, you might get these fees waived. For instance, if you keep a particular balance in your checking account throughout the month or set up direct deposits, you may get the monthly checking account charge that you usually pay waived.

One type of fee in particular that is the most common is overdraft fees, which may really pile up, and if not paid, they can have a bad impact on your credit score. Therefore, properly managing your bank account requires a grasp of the fees associated with overdrafts. Notwithstanding this, several financial institutions provide overdraft protection choices for their customers. Typically, this indicates that they will transfer the overdrawn amount from a connected savings account to your checking account automatically, and there will be no fees associated with this transaction. 

  1. Take advantage of account bonuses and rewards.

In order to maintain competitiveness, many financial institutions provide their checking account users with a variety of optional advantages, including shopping discounts, additional protective services, and other optional perks. The most common account perks are buyer’s protection and warranties, discounts for your shopping and dining expenses, health savings cards, or cash back on qualifying transactions made with your debit card.


Your bank account is a vital tool in handling and keeping track of your personal and business funds, as well as your overall economic well-being. Keeping tabs on your finances requires you to do a number of things,  one of the most crucial of which is managing your account. Being able to handle it well will assist you in sticking to your budget, avoiding fees that are not essential, and achieving the financial goals that you have set for yourself.

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