Should I open a checking account?*explained more inside*?

Question

I just started my very first job at Papa Murphy's pizza :) I start working on Thursday with training, etc. I'll only be working for a couple of hours 3 times a day (according to the manager). So, should I open a checking account at my credit union? or should I just stick it in my savings account at my credit union for now? and when I get more money from my job then open up a checking account.

What should I do?

Answer 1

A FEW DAYS AGO I GOT THE CHASE HIGH SCHOOL CHECKING ACCOUNT FOR THOSE 13-17. IT IS LINKED TO A PARENTS ACCOUNT. MY PACKAGE COMES WITH A VISA CHECK CARD. THERE ARE NO SERVICE FEES. ALL THE RULES APPLY WITH THIS ACCOUNT EXCEPT IF YOU OVERDRAFT IT IS TAKEN FROM YOUR PARENTS. SO BE CAREFUL. IT CONVERTS TO A FREE CHECKING ACCOUNT WHEN YOU TURN 19.it saves hassle when you want to withdraw from it.

http://www.chase.com/ccp/index.jsp?pg_na...

Answer 2

Well, if you get a checking account, then you could save yourself a lot of hassle and use direct deposit if your work offers it.  That way you don't have to deal with any checks--just check your balance every few days after your payday and there it is.

Answer 3

Establishing a checking account is a good idea but you might want to start with an ATM (no checks) account first.  These kinds of accounts are usually free for one thing.  BUT be cautioned - it is easy to get into an overdraft situation when using an ATM card - just because your account balance at the ATM or when you call the bank accounts number shows you have money doesn't necessarily mean you have that much or anything - it depends on how many purchases you have made that have not yet gotten to the bank.  Some banks have a long (sometimes several days) period of time between when you purchase something and the time the purchase amount shows up on your account.  It is important, even without writing checks, to enter all purchases either on the check register that you can obtain from the bank or on your computer - once a day enter the amount of whatever you purchased that day in your computer (Quicken is a good program for this) and subtract it from your last balance amount.  That is how much money you REALLY have in the bank - AFTER you deduct whatever you bought that day.  Good luck with it.