<prompt> Human: Hello rpersonalfinance, Im 24yo and Ive never understood the point of a Savings Account. At this time, I keep all of my money in a Checking Account 10,000 and understand when I should and shouldnt touch my money. I keep track of my income expenses, but as the title states, I just dont see the point of a having another account Savings. Is it OK to continue not using my Savings Account, or is there a good reason I should change the way I handle things? I imagine the point of a Savings Account to keep track of funds you cant touch, but I just dont have an issue like that. Im single and only have a few expenses which are easy to track. Thanks.edit: Oh, and I have no debt. I actually just applied for my first credit card so I can start building my credit score.  <response>: Interest rates aside, Id move it to savings account for security reasons. You never know when fraud may happen if youre writing checks and using your bank card for in store online purchases. Granted you should get your money back in due time, why keep that much out there available for the taking. My thoughts anyway... 