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Everyone knows how important it is to regularly put money into savings, but research shows that 25% of Americans have no emergency savings at all.

We’ve all been there. Maybe it’s that I-gotta-have-it urge that overtakes us when we see a pair of designer jeans. Maybe it’s that shrug as we reach for the $6 cup of overrated coffee that says “I deserve this.” Or maybe it’s that helpless feeling as the end of the month draws near and we realize we’ve outspent our budget — again.

Are you trying to decide what’s better, checking vs. savings account? Ideally, you should have both. When used responsibly and customized to fit your specific needs, checking and savings complement each other. Combined, they make it much easier to manage your financial health. Here’s why.