Section Two: Optimize Your Checking Accounts

In this next section we are going to cover perhaps the easiest win in personal finance, optimizing your checking accounts.

This step is fantastic because: 1) it takes very little time, and 2) it’s totally free. Less than 10 minutes of work can save you hundreds of dollars and an immeasurable amount of stress.

So let’s get right to it.

A good checking account is important because it serves as a “home base” for all of your money. It’s where you deposit your paychecks, pay bills, and keep money that you will need in the short term.

You will likely have one or multiple checking accounts for the rest of your life, so choosing them wisely is a critical step to establishing a solid financial life.

So what makes one checking account “better” than another? Let's take a quick look at the 4 key characteristics to look for.

Here are 4 key characteristics to look for:

With these in mind, there are two checking accounts that are head and shoulders above the competition in our opinion, Schwab and Sofi Money.

We will take a close look at each of these in the next two sections to help you choose which is best for you.