The first step we recommend for organizing your finances and boosting savings is opening a separate bank account.
Operating everything out of one checking account can make your finances muddy and contribute undue stress to your money management.
To simplify, open a second account for a dedicated purpose. One of our favorites is Aspiration’s Summit Checking Account — there are no fees and you’ll earn up to 100 times the interest rate of other banks.
This online-only checking account comes with a debit card and free ATMs, so you can easily access your money when you need it.
After you open your Summit Checking Account, use it to split your income:
- Automatically deposit a portion of your income into your existing bank account, and use that to cover basic expenses like rent and bills.
- Deposit what’s left into your Summit Account to use for fun stuff, like eating out, shopping or going on vacation.