Why all 9-5 women need an online banking account!

For so many year's, I was skeptical of doing my banking online. I am a single middle-income household and I was so nervous about putting all my trust into an online bank. Ever since I was a kid, I remember going to the bank, making deposits at the teller window. From young I became accustomed to the traditional way of banking. Well now I am here to tell you “Out with the old and in with the new!”

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I believe everyone should have at least 4 bank accounts. Two checkings and two savings account. The first checking account is strictly for your monthly bills. The second will be your “play money”. This is the card you swipe at dinner, when you go shopping, hanging out with friends, etc. As for your savings, I prefer to have one account for emergency funds and the other account for my long-term savings goal.

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Now let's get into this online banking. I have been banking with my credit union for the last 15 years due to the perks of being a member. But aside from the good loan rates, my money was not growing how I would've liked it to. Most credit unions and big financial institutions only offer a 0.05% APY on your savings account. Whereas online banks like Ally or Discover offer 0.50% APY. Chime is another account I would recommend offering a APY at 0.55%. You will not get a rate this high at a traditional branch. All of these online accounts have no monthly fees, 24/7 access, and are Federally insured of course!

If you are a 9-5 woman like me, you have to make your money work for you in every way possible. Remember, money is a tool and your job is to use your money to make you more money. So take a look into the pros of switching to online banking and thank me later 😉.