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Move Your Money: Finding a Better Banking Option

by Elle Martinez October 20, 2021 Banking

In order to produce the podcast and keep content up free for you, I work with partners so this post may contain affiliate links. Please read my full disclosure for more info.

Are you getting real value out of your checking and savings accounts? Or do you feel like you’re getting nickeled and dimed? Today see how you can switch banks and make the transition go smoothly!

Why It Matters Where You Bank

These are all important to your financial health and making progress on your goals, however we left the biggest piece of the puzzle last – your day to day bank accounts. 

Your check and savings accounts are the backbone to your family’s financial system, but for most of us, it's almost like an afterthought.

Much of this goes back to how we chose our accounts in the first place.

For my husband and I, with our first accounts, it was based on who we were already banking with. And at the time we had bank accounts with two of the major banks, we had opened student checking accounts.

When I say they were basic accounts, that's exactly what they were.

Honestly, we just settled with it for way too long. After getting frustrated with the horrible customer service, ridiculous fees. And not seeing any real progress with our financial goals. We decided it was time to change.

We moved our money to an online bank and credit union and i have to say we are so much happier for it.

We feel that our banking partners are actually partners that they're helping us reach our financial goals faster. And make our lives easier with managing our money.

So if you feel that way about your bank or credit union, fantastic.

However, there are plenty of families that feel like their banking options are hurting them rather than helping.

According to a recent Magnify Money survey, 68% of consumers are frustrated and feel like their savings isn’t growing. When you consider that 18% of those said they get less than .05% APY, it’s understandable.

What makes it worse are those minimum balances and fees added on their accounts. 

Bankrate reported that the average maintenance fee on a checking account that earns interest totaled $196.20/year. 

So if you’re feeling squeezed, you probably are. That doesn’t have to be the case though. 

With 2021 winding down, now is a great time to set the pieces up for you to have an incredible year in 2022.

In this episode, we’ll go over: 

  • What to look for in your next bank or credit union
  • How to move your money and switch accounts (and deal with a reluctant spouse)
  • How to set up your new accounts for your best year ever

Are you ready? 

Let’s get started! 

Resources to Easily Manage Your Money

  • Best Budget and Money Apps: Personal Capital, Tiller, Mint
  • Free 401(k) Analysis: blooom
  • Grow Your Stash Faster: High Yield Savings with CiT Bank
  • Jumpstart Your Marriage and Your Money
  • Join Our Thriving Families Community on Facebook

Thank You to Our Sponsor Coastal!

thanks to our podcast sponsor Coastal Credit Union. If you want to live better, you have to bank better!

Support for this podcast comes from Coastal Credit Union! If you’re living in the Raleigh Durham area and looking to bank better, come check out Coastal today.

We’ve been Coastal members for a few years have been happy with their services.

Did you know that Coastal offers a Health Savings Account? If you have a high deductible health plan, you need to take advantage of an HSA.

Find out more about what Coastal offers here!

Key Takeaways on Switching Banks

Support the Podcast!

Thank you so much for listening to the podcast! If you enjoyed this episode and found it helpful, here are some ways to support it.

  • Spread the word! If you enjoyed this episode and think it can help a buddy get on the path to dumping debt and become financially free, please share.
  • Leave a review. Honest feedback and reviews make a big difference and gets the word out about the podcast. Leave your rating and review on Apple Podcasts.
  • Grab a copy of Jumpstart Your Marriage and Your Money. My book is designed for a busy couple to set up their finances in 4 weeks. Get tips and tools that have worked for other couples on their journey of building their marriage and wealth together!

Photo by Adrien Olichon from Pexels

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About Elle Martinez

Elle Martinez helps families at Couple Money achieve financial freedom by sharing tips for reducing debt, increase income, and building net worth. Learn how to live on one income and have fun with the second..

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Previous Post: Easy Way to Manage Your Money Better

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Thank You to Our Sponsor

Coastal Credit Union sponsor

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Best Online Banks for Joint Accounts

Looking to get the most out of your money? These online banks offer fantastic rates for savings and checking!

Grow Your Money Faster

About Couple Money

Hi, I'm Elle Martinez, creator of Couple Money. I started this site and podcast to help spouses get on the same page, pay off their debt faster, and build their marriage and wealth together!
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Disclaimer – Please Read!

I’m not a financial professional so please take my advice as opinion. Check out resources I share so you two can sit down and discuss your unique circumstances.

STANDARD DISCLOSURE: In order for me to support my blogging activities, I may receive monetary compensation or other types of remuneration for my endorsement, recommendation, testimonial and/or link to any products or services from this blog.

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