Save more of what you earn
Even a small cushion makes hard months less scary. Here are simple places to start.
Start with a small safety cushion
A good first goal is $500 to $1,000 set aside for surprises like a car repair or a slow month. After that, work toward a few months of expenses. Small, automatic transfers on payday add up faster than you'd think.
High-yield savings accounts
These online accounts usually pay more interest than a regular bank savings account. Rates change often, so check today's rate (shown as APY) and any minimum balance on each bank's own page before you open one.
Raisin is a marketplace, not a bank: it lets you open savings accounts at different banks and credit unions in one place. Make sure any account you open is FDIC insured (banks) or NCUA insured (credit unions). Insurance covers up to $250,000 per person, per bank, per ownership type. Some online banks are a division of a larger bank, and the limit then applies to the whole bank.
Everyday banking
If fees at a traditional bank are eating your money, a no-monthly-fee checking account can help.
Chime is a financial technology company, not a bank. Its banking services are provided by partner banks that are members of the FDIC.
This is general information, not personal financial advice. We're not a bank and don't hold your money.