What is the best reason for Jacinta to have a savings account in addition to a checking account?

What is the best reason for Jacinta to have a savings account in addition to a checking account?

1: A savings account protects her money from overdraft fees.

2: A savings account insures her money under the FDIC.

3: A savings account guards her money against inflation.

4: A savings account allows her to set her money aside.

Answer – 4: A savings account allows her to set her money aside.

The savings account will play an important role in supporting Jacinta to keep the savings separate from the money that she wishes to spend. The major reason behind opening the savings account is based on increasing the savings of Jacinta. The checking account is helpful for an individual to help Jacinta to manager her finances on a day-to-day basis. On the other hand, the savings account plays an important role in building the emergency fund that is related to putting the money aside for future usage. The importance of savings for Jacinta is considered to be quite high along with the checking account that has been opened by her. The proper management of the finances of Jacinta is based on maintenance of the savings account and the checking account as well. The major purpose of checking account is related to spending and the usage of savings account is based on increasing the savings levels. The presence of both accounts is important for maintaining the financial balance of Jacinta and proper management of the finances on a long-term basis. The accessibility levels of the checking accounts are considered to be quite high and are used frequently. On the other hand, the accessibility levels of the savings accounts are lower in comparison to that of the checking accounts.