Q. I need to start my first account. What’s the difference between a checking and savings account?

A. A checking or savings account is great for beginners. Here are some of the differences:

• Use for everyday transactions
• Access your money with checks or a debit card
• Free checking, which has no fees or required minimum balance, is sometimes available

• Usually earns interest
• Funds usually accessible by ATM
• May require a minimum balance
• Not designed for frequent withdrawals

Consider starting both accounts. A savings account can protect your checking account against overdrafts and provide interest on money you won’t use right away. Look for special accounts for students and young adults that may have perks like no fees and low minimum balances.

Q. Should I make a will even though I’m not rich or old?

A. A will is simply a set of instructions for what to do with you or your stuff after you die -- you don’t need to have millions. If you’re 18 or older, having a will might be a good idea. The key is to continually update it as your wealth or wishes change.

Got debt? Depending on the situation, your debts may or may not die with you. In most cases, your assets will be used to repay your debt. Check out legalzoom.com for more information.

Do it yourself. If your last wishes are simple, a do-it-yourself will kit may fit your needs. If you’re still unsure, visit findlegalhelp.org to find legal services near you.

Validate it. If you write your own will, sign it in front of two disinterested witnesses--people who are not beneficiaries. Date and sign the will to certify its authenticity, and possibly have it notarized. Keep your will in a safe place, like a safety deposit box at a financial institution. For more info visit nolo.com.

Editor's Note: When answering your questions, brass consults with experienced professionals from a wide spectrum of industries. We utilize their expertise to give you the answers you need, but it's always wise to seek additional opinions from other professionals.

Sources: kiplinger.com; wsba.org; nolo.com; legalzoom.com; bankrate.com; fdic.gov