Where Should I Keep My Money?

Cashback Checking Account

A cashback checking account is a great option for anyone who wants to make the most of their money. Cashback accounts work simply. You put your money into the bank, use the debit card you’re issued to make purchases with that account, and then you typically get up to one percent cash back on every dollar you spend. For example, if you use your debit card online to pay your mortgage, your utilities, and your other monthly expenses as well as purchase gas, groceries, and entertainment for a total of seven thousand dollars per month, you could earn up to seventy dollars per month in cash back. If you add your cash back every month to your savings account, you could have a total of 840 dollars in savings every year just from making your everyday purchases. That’s major savings for just using your debit card regularly to live your life.

Continue reading to learn when additional banks may be a good idea.