People keep their money in banks. They either have a savings or a current account. Why do people keep their money in a savings account rather than in their current account? Here are some reasons:

Firstly, it helps them to keep track of how much they’ve managed to save by keeping what they need to cover monthly living costs such as food, travel and bills, separate. Secondly, savings account generally pays more interest, than current accounts. Interests, is both the money a bank pays you for keeping your money on an account them and the money you must pay the bank you are borrowing from them.






How much money can you save in a bank? In current accounts, it’s important that you keep enough money to live on each month to pay for food, utilities and accommodation. You should also keep money on the account in case of a financial emergency. This is because banks charge fees when you spend more money than you have in your account. The rest can be moved in your savings account.