5 Tips to Help You Manage Your Money With a Checking Account

23 June 2021
 Categories: Finance & Money, Blog

Are you preparing to apply for a new bank account? If so, do you need some advice to help you manage your new account? When people get their first personal banking account, they often have questions about their accounts and money management. If you feel like you could use some tips, continue reading to learn the best ways you can manage your money with a new bank account.

1. Utilize the Mobile App

The first thing you might want to do after setting up an account is to download the bank's mobile app. Most banks today offer mobile apps and using the app benefits you. A mobile app offers a way for you to connect to your banking account from anywhere. You can use the account for so many things, and you can reach out to the bank if you have any questions about its features.

2. Learn Your Account Number and Routing Number

Another smart move is to learn your account number and routing number. A routing number is a number that is unique for your bank, while your account number is unique for you as the customer. If you set up automatic payments for your bills, they will ask for these two numbers. You will also need them for other reasons. For example, if you want to have your tax refund check direct deposited, the IRS will ask for these two numbers. Or if you are starting a new job and want your income to go directly into your account, you will need to know these numbers.

3. Check Your Account Daily

Having the mobile app makes it simple for you to check your account daily, and you should check it each day. By checking it, you can keep an eye on the balance and spot any fraudulent charges that might appear.

4. Use the Bill-Pay Services

If the bank app offers bill-pay services, you might want to utilize them frequently. You can use these features for free, and it helps you avoid having late payments.

5. Set Up Automatic Savings

One last thing to do is to set up automatic payments to your savings account. If you do not have a savings account, you might want to open one. When you set up automatic payments to go to your savings account, you will save more money. Over time, you can watch your savings account grow a lot.

By following these tips, you can manage your account wisely. If you have other questions about getting started with a new personal banking account, contact a bank of your choice to open one.