If you’ll be joining the more than 71 million people already receiving their Social Security benefits in 2024, there are some important banking tips that will help you stay ahead of any problems.
Banking should be fairly straightforward, but with online banking becoming more common, it’s changed the way we handle everything, from bill paying to investing.
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Kimberlie McGee, head teller and team lead of the Eustis, Florida branch of Addition Financial , explained how to best stay on top of your banking if you’ll be on Social Security this year .
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Have These Basic Accounts
If you only have a checking account, McGee said, “Always have a savings and a checking account, so you can keep funds separated.”
If you have enough funds, you can consider other financial accounts or products, like a high-yield savings account or even CDs to grow your money, she said.