Girl Math: Demystifying Checking Accounts
In this blog article, join a casual conversation between a mother and daughter as they explore the concept of checking accounts. Discover the simplicity behind Absolutely Free Student Checking and learn how to manage finances effectively, including mobile banking, text alerts, and more. .
Daughter: I get why it's called savings, but why checking? What does that mean?
Mom: Well, honey, in the past, people used written checks to pay for things.
How Checks Worked?
Daughter: How did that work?
Mom: You would write the amount you owed on a piece of paper called a check. That check would then be cashed, meaning the money would be taken out of your account to pay for the purchase.
Daughter: So you could just write checks for anything you wanted?
Mom: Well, yes, but only if you had enough money in your account to cover the amount of the check. If there wasn't enough money, the check wouldn't go through, and that could cause problems.
...😩
My First Student Checking Account
That's the day my mom and I took my jar full of pennies to MIDFLORIDA Credit Union and opened my very own Absolutely Free Student Checking account. It was awesome!
I got my own debit card (government ID required) to carry in my wallet and downloaded the MIDFLORIDA mobile app. This lets me keep track of how much money I have and where I'm spending it. I was even able to deposit my birthday check from grandma right on my phone. Super convenient!
But I still like going to my local branch to make deposits on Fridays, especially because that's when they have free popcorn! The teller also recommended I sign up for text alerts. This way, if anything happens in my account, I'll know about it right away. Mom loves that feature, and she also appreciates that there are no hidden monthly fees (whatever those are!)
I really enjoy having my own account and being able to manage my own money. Now I just have to convince my friends to sign up too, so I can earn some extra cash with the referral program!
Want to Learn More?
If you'd like to find out more about the Absolutely Free Student Checking account, visit the MIDFLORIDA Credit Union Personal Banking tab on midflorida.com. Trust me, it's a smart move! 😂
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