🎯 Goal: Tell apart checking and savings accounts, track balance, statements, and set transaction alerts.
Adults usually have a checking account (daily spending) and a savings account (earns interest). Track statements and enable alerts to stay in control.
Let’s explore
🏦
Checking for spending; savings to keep, with higher interest.
📑
Read statements regularly to see flows and spot odd transactions.
🔔
Turn on balance alerts to know immediately about transactions.
Practice activity
🔎 Why separate a spending account from a savings account?
Worked example: You put salary in checking, then move 20% to a separate savings account. Separated, savings is not spent by mistake and earns more interest.
Quick quiz
1. A checking account is for?
→ Daily spending
2. A savings account usually?
→ Higher interest, for saving
3. Reading statements helps?
→ Spot odd transactions
4. Enabling balance alerts so you?
→ Know transactions instantly
5. Why keep savings in a SEPARATE account from spending?
→ So you don't accidentally spend your savings
🎯 Real-life mission
Review one account’s transaction history and categorize the spending.