Your First Checking Account

As individuals ascend through the different stages of life they will come upon different milestones important to their lives. One of these milestones is having your first checking account for when you earn the first paycheck.


Anyone who is interested  in a good manageable financial future,  need to first  learn how to manage balancing their first checking account. With a checking account (also known as,  transactional account) you will be able to access your money  whenever you need it – since there are a variety of sources, including debit cards, ATMs, paper checks, and online bill payment systems available.

When it comes time to opening your first checking account, comparative shopping for an account that best suits your needs is important. Some features you may want to have for your first checking account are:

  • Overdraft protection: a way of ensuring your checks will not bounce due to insufficient funds
  • ATM Card:  A card, typically with a national credit card logo that will allow you to make payments directly with the card as well as allowing for banking transactions through an automatic teller machine
  • Online Bill Pay: your first checking account will come with paper checks, but a better system is tapping into the power of the internet to pay your debts electronically
  • Free Checking:  Based on the bank and type of account, many financial institutions may offer fee free checking as long as direct deposit is associated with the bank account in question

If you are not able to find a free checking account, you need to properly review all the additional fees (i.e. maintenance , penalties on overdrawn checks, and minimum balance that are commonly associated with keeping a checking account in good standing).

Your first checking account is one of the first steps in building your credit rating and should be handled with care. By taking the time and steps to learn all about your first checking account you are taking some of the very first steps to ultimate financial freedom.