When I pull cash out of an ATM, the receipt always says I have something like $100 in my account. Yeah, in my checking account.
The truth is I keep my checking account balance low on purpose. Because money in a checking account ain’t doing nothing but sittin’ like a bump on a pickle (#SouthernSayins).
I want my money to work for me. Every day, for years. Compound interest is a wonderful tool that can work for you – or against you. So make it work FOR you!
At the very least, keep your money in an interest-bearing savings account. Pay your bills from checking, then transfer the excess to a high-interest savings or investment account.
Whatever you do, stop using checking accounts to park your money!