Your sister Reagan has her paycheck direct deposited into her checking and savings accounts each pay period. She asks you how she should split her paycheck between the two accounts. What is the best advice you could offer her to encourage her savings habit?

Deposit atleast 10-20% of paycheck to savings account and the remainder in the to her checking account

Explanation:

The reason is that the saving account earns interests on the deposited amount. But their is also a problem, that is the banks charge fees for cheque books and making payments whereas checking accounts don't costs for cheque books, bank charges, etc. The account is almost free so the best advice would be depositing the savings in savings accounts which must be between 10 to 20%. Because Reagan will rarely use this money which means lower are the charges and greater are the interest earnings.

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