How can opening a new checking account help Camilla better manage her money? Select a response: A. She can get a greater investment return. B. She can earn more interest to save money. C. She can check her transaction history easily. D. She can borrow money and pay it back over time.

Business Questions

How can opening a new checking account help Camilla better manage her money? Select a response: A. She can get a greater investment return. B. She can earn more interest to save money. C. She can check her transaction history easily. D. She can borrow money and pay it back over time.

Short Answer

Camilla should start by opening a checking account with low fees and accessible features. After the account is active, she can perform transactions like writing checks or making online payments, while regularly monitoring her finances to avoid overdrafts and manage her cash flow effectively.

Step-by-Step Solution

Step 1: Open a Checking Account

To get started, Camilla should open a checking account at her preferred bank or credit union. This process usually involves providing personal identification and filling out an application. It’s essential to choose an account with low fees and convenient access options like online banking and mobile apps.

Step 2: Utilize Transactions and Access Funds

Once the account is active, Camilla can use it to carry out various transactions. She can write checks, use a debit card, or make online payments for bills directly from her checking account. This easy access helps her keep track of her spending and ensures she has the money ready when needed.

Step 3: Monitor Cash Flow and Avoid Fees

Regularly reviewing her account balance and transactions will help Camilla manage her cash flow effectively. By maintaining awareness of her spending patterns, she can avoid overdrafts and the associated fees. This practice makes it easier for her to stay within her budget and achieve financial stability.

How can opening a new checking account help Camilla better …