Why are Checking and Savings accounts important? Well, with a checking account at a bank or credit union, you can use your monthly statement to show creditors that you do a good job at paying your bills on time. It also usually cost less to have a checking account than it would be to purchase a money order to pay bills.
If you don't have a checking account you might want to consider setting one up, but first shop around. Call several banks and ask what they charge and what services they provide. It might be wise to use a bank or credit union that is nearest you or has the most convenient locations.
Savings accounts are equally important. One of the best ways to improve your overall financial status is to save money every month. Even if it is only a small amount. An easy way to start is to take 10% of your check and deposit that into savings every pay period. Another simple way is once you have paid off a debt, continue paying the same "bill" but put that money in savings. Something else simple, put $1 a day in jar and any other loose change at the end of every month deposit that into your savings.
These techniques sound easy but most people still don't do them! I assure you that once you get into the habit of saving you will be hooked!
