Open a Separate Bank Account

Money management
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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.

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