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Lumpia, you would want to get a checking account and a savings account.



The checking account is where you deposit your pay and make payments. The savings account is where you put part of your money and leave it there, you will get interest paid by the bank because you are basically giving them your money and they can use it to make more money with it.



There are many different banks and most have different fee structures. So you will need to do some homework to compare the fees and see which one is best for you.

Savings accounts come in different shapes and forms also. If you put your money away and promise to leave it there for a longer time, usually you get a higher interest. But because interest % are low, at this time I would not bother much. Maybe you can get 1% more but you have no flexibility or you would have to pay a huge penalty fee if you need your money sooner.

Again, homework - study and ask the banks what the terms and conditions are.

Yellow pages! call around, and don't talk to people online or ask simple questions about money or bank accounts.... not good, don't leave yourself open like that!

get a box and put money in it and put it under your bed!