One might argue that a checking account is essential because it enables you to manage the rest of your financial life. Give some examples of how checking is useful in the realms of saving, budgeting, and/or other financial tasks

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Business

Diego

14 July, 13:28

One might argue that a checking account is essential because it enables you to manage the rest of your financial life. Give some examples of how checking is useful in the realms of saving, budgeting, and/or other financial tasks

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Hayden Mahoney · Answer 1

Answer: Safety and Protection

Explanation: A checking account is a type or form of deposit account which individuals open at financial institutions (banks) for the purpose of withdrawal and saving (deposit) of money. Funds in such accounts can be accessed by the use of ATM cards, checks e. t. c.

A checking account offers 'Safety and Protection'. In today's world it is no longer advisable to move with large sums of money as this posses several risk, such as robberies. And storing of cash at home also is outdated, as such cash could be lost in a case of a natural disaster. So with the use of ATM cards large transactions involving money can be carried out without the physical presence of such money.