> Why is my savings account growing?

Why is my savings account growing?

Posted at: 2014-12-05 
The only concrete explanation will come from your bank, but here are a few options:

1. You're receiving interest on your savings account. Usually not much, but that could be the growth you're seeing. This has nothing to do with your checking account; you just get interest added monthly.

2. Your bank may have enrolled you in an automatic savings program. I know Wells Fargo has a program where whenever you make a purchase with your checking account, a small sum is automatically transferred to your savings account. Other banks have similar programs.

I think you mean NOT growing. It is because interest rates

on bank accounts are very low. Less then 1/2%

Chances are you are being paid a small interest rate and that is compounded to add to your principal amount thus increasing the overall account balance.

it increases as my checking account decreases, im sure ther's an obvious connection, but i'm 18, new to this, and would like a concrete explanation. thank you! :-)

Check your bank statements.

Contact your bank and ask this question.

You already know the answer

Maybe your saving account saw you naked and well....