Banking on a budget, making important payments, and working towards greater financial stability and health can be incredibly difficult without the proper banking support. The problem? Some accounts or financial tools can end up taking money out of your account rather than keeping your money in it or even contributing to financial growth over time. Fortunately, for those on a budget or for those looking to make the most of their money, there are a ton of tools out there designed specifically for you. Let’s dive into some of the best tools and tips for banking on a budget that will help serve to improve your financial life.
Getting paid to bank? It sounds like it wouldn’t be something that would be possible, but there are actually a ton of promotions and offers out there from physical and digital banks that will give you money if you open an account with them. Granted, it’s important to remember that there are always terms and conditions to these types of promotions. There will generally be a minimum amount that you will have to deposit into these accounts in order to get your bonus. That being said, here are a few offers that will help with your banking on a budget!
Discover is not just a credit card company. They actually offer banking services as well, for which their online savings account is just one of their services. They’re currently running a promotion where if you deposit $15,000 or $25,000, you could get a $150 to $200 bonus, respectively. Discover makes banking on a budget easy.
SoFi Checking and Savings
SoFi offers its own checking and savings account that you can transfer money to so that you can earn a bonus. There are three different bonuses available: $50, $100, and $300. You can make direct deposits of $1,000-$1,999, $2,000-$4,999, and $5,000 to access these.
Chase Total Checking or Chase Secure Banking
Chase often offers a wide range of bonuses and promotions all the time, and two of these this year apply to Chase Total Checking (they’ll give you $200 after you make a qualified deposit within 90 days), and Chase Secure Banking (when you make 10 qualifying transactions within 60 days).
Citigold Checking Account or Citi Priority Checking Account
Are you thinking about opening an account with Citibank? Citibank is also offering several different promotions, including up to $2,000 when you open a Citigold Checking Account (you have to deposit anywhere from $10,000 to $300,000+) or a Citi Priority Checking Account (which has the same conditions).
U.S. Bank Checking
U.S. Bank is offering a $400 bonus when you deposit $4,000 into a checking account with them. You have 60 days to take advantage of this deal once you open the account!
Axos Rewards Checking
Having a rewards checking account can be an amazing way not to only effectively manage your money but grow your wealth over time. If you’re looking for something like this, an Axos Rewards Checking account can earn you $100 if you deposit $1,500 within one month (you have three months to take advantage of this offer).
TD Bank Checking
Looking to open a TD Convenience Checking account or a TD Beyond Checking account? TD Bank will offer you anywhere from $200 to $300 if you deposit $500 into your TD Convenience Checking account or $2,500 into your TD Beyond Checking account, respectively.
Bank of America Advantage Banking
There are multiple checking accounts over at Bank of America that will offer you a $100 bonus, including the Bank of America Advantage SafeBalance Banking checking account, the Bank of America Advantage Plus Banking checking account, and the Bank of America Advantage Relationship Banking® checking account. Each of these have different deposit thresholds to take advantage of the available bonus.
BMO Harris Checking
BMO Harris Smart Advantage or Premier accounts are offering $300 to $500 bonuses, with these bonuses being tied to which account you open. Once you open your account, all you have to do is deposit $4,000 or $7,500 to get your money!
Huntington is a pretty popular bank, and they’re currently giving bonuses of up to $200. Just sign up for the Asterisk-Free Checking account and deposit $1,000 within 60 days for $150 or sign up and deposit $1,000 to the Huntington 5 Checking for $200.
Many of the above are promotions for checking accounts. But what if you want to open a savings account? Alliant is here for you! If you open up The Ultimate Opportunity Savings account with Alliant and transfer $100 monthly to get a bonus of $100 at the end of the year.
If you happen to miss any of these, you can always continue to keep an eye out for special promotions as they do tend to crop up regularly! The only thing to note here is that you make sure any banking fees don’t eat up your cash and that you don’t sign up for overdraft protection!
Are you looking to make money from your purchases? Are you also looking to open up a credit card? If so, you’ll find that there are plenty of credit card companies out there that will pay you to use your card (even if just for a limited time). But which cards are those? More importantly, which cards are going to offer you the most cash back over time?
Some excellent cards worth looking further into include the Chase Freedom Unlimited card ( 1.5%-6.5% cash back on purchases), the Discover it Cash Back card (1%-5% cash back), and the Capital One Quicksilver Cash Rewards Credit Card (1.5%-5% cash back), just to name a few. Just make sure that you pay attention to all the terms and conditions on these cards before you sign an agreement or apply. The last thing you want is a card that will only become a financial burden for you over time!
Investing is part of financial success, and you don’t have to spend a lot to start making some money and saving for the future. Take, for example, apps like Acorns. Acorns allows you to establish your own investment schedule or round up your purchases to invest those extra cents, offers several different portfolio types based on your goals, and only costs $3 a month to use. If you not only want to save but hopefully earn a bit of money along the way, you can get started with an app like this.
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