Final answer:
The true statement is that you should contact your financial institution immediately if there is a mistake on your bank account. Maintaining up-to-date finances helps to avoid overdraft fees and provides financial security through a recommended savings cushion.
Step-by-step explanation:
The correct statement is: If there is a mistake on your bank account, you should contact your financial institution immediately. It is important to maintain vigilance over your financial transactions to ensure that all charges and deposits are accurate. If you notice an error, it is crucial to report it as soon as possible to your bank or financial institution for them to investigate and rectify the situation. Waiting for the issue to resolve on its own is not advisable, as some errors may escalate or could indicate fraudulent activity on your account.
Keeping up to date with your finances is essential in the fast-paced world of responsible adulting. Balancing your checkbook and managing your money properly can help you avoid overdraft fees and maintain a stable financial situation. As a safety net, financial planners recommend saving at least three months' worth of expenses in a liquid account for unforeseen circumstances such as unemployment or unexpected medical expenses.