Switching bank accounts seems complicated, but it’s only a three-step process: find a new bank, reroute your automatic transactions, then close your old account.
When do you know if it’s time to get a bank account for your business or freelance gig? Even for small side hustles, a dedicated business bank account is a good idea.
With the Federal Reserve raising interest rates, unemployment numbers rising, and inflation causing spikes in the price of food and gas, now more than ever, you need an emergency fund. Six months’ worth of expenses is the rule of thumb, and you should set it aside in a separate savings account (i.e., not in a box under your bed).