A checking account helps you manage your money. When you write checks to pay bills there is a record and proof of the transaction when the check is cashed. You should always also record the checks that you write in your transaction register at the time you write them. This will help you keep track of the balance in your account and it will also help you reconcile your account when you receive your monthly statement. A checking account may also help you establish credit. It is part of building a positive relationship with your financial institution. If you use your checking account responsibly, your financial institution will be more inclined to approve a loan to you when you need one.