The thought of keeping your life savings under the mattress probably sounds ludicrous. Most modern consumers feel the same, and most adults rely on bank accounts to help house their money securely.

A bank account has many benefits but comes with a lot of responsibility as well. It's important that you understand your role in the relationship with your banking account so that you can effectively manage your finances in the future.

1. Monitor Your Account

It may seem like an obvious task, but you would be surprised how many people fail to monitor their bank account on a regular basis. You need to be aware of the balance in each of your accounts at all times. Use your smartphone to check your transaction history so that you can identify any potential signs of fraud.

Regular monitoring will also ensure that you don't forget about any automatic withdrawals that hit your account each month. Overlooking an automatic withdrawal could cause you to incur an overdraft fee. Take the time to check your bank account balance throughout the day so that you can keep tabs on your finances.

2. Avoid Unnecessary Fees

Your financial institution provided an information booklet when you opened your bank account. This booklet lists all of the fees that you could be charged for using your account. You should make it a point to avoid all unnecessary fees that you might be charged for your banking activities.

One of the most common fees incurred by account holders is an ATM charge. Become familiar with your bank's ATM network so that you can use an authorized ATM to access cash. ATM fees can add up over time, so using only in-network ATMs will help you retain more of your money over time.

3. Use Your Savings Account

Many people keep the bulk of their financial resources in a checking account. This allows for easy access, but it could mean that you are missing out on potential earnings your money may generate.

A lot of financial institutions offer high-yield savings accounts that will pay interest on the money kept within the account. By using your savings account to generate additional income, you are making your bank accounts work to increase your financial security.

You need to take an active role in managing your bank account. Check the balance often, avoid unnecessary fees, and use your savings account to build greater wealth over time.