For many, marriage comes with an exclusive joint checking account. During the course of marriage utilization of these accounts can be great for bill pay and getting an overall sense of your financial ins and outs. However, if you’re planning on making a split, you’re going to need your own bank account.
While many will stick with the same bank out of familiarity or habit, you may want to consider your options as you gain your new financial independence. There currently are many options out there, but what you probably haven’t heard a lot about are interest bearing checking accounts.
With an interest–bearing checking account, the bank pays you interest on the money in your account, much like it pays interest on a savings account. However, with a checking account you can also write checks or use debit cards, making it easy to access your money as needed for bills, purchases and so forth.
So if you’re going to open a new account, why not make the most of it? Banks’ interest rates are constantly updating, but a January 2018 review reveals options that pay up to 5%! While this may not seem like much, over time it will add up. And who couldn’t use a little extra money for attorney fees?
#interestchecking #showmethemoney #makethemostofit