Does Your Checking Account Check this Box?
The 3-Minute Money Awareness Upgrade That Anyone Can Make
As a personal finance coach, I worked with a couple who loved learning, reading, music, gardening, fitness, each other, and their two children.
They had been happily married for 8 years without learning much about personal finance. They hoped the professionals would pay attention to their financial details— while they focused on the more important things in life.
They Went Years Without Noticing
As I got to know the couple, I gradually shared personal finance insights with them. They began to turn more attention than ever toward their accounts.
Then they noticed something they had never seen before: their bank was charging them a $4 maintenance fee for their checking account every month.
This really irked them.
The size of the expense wasn’t the problem. What disturbed them was the fact that it had been happening without their knowledge— for years— and for no good reason.
They lived in a world full of free checking accounts; but theirs wasn’t one of them, and they hadn’t realized it.
My family
They never left areas of their garden neglected. They didn’t buy a new bicycle for their family without reading reviews. Why should they overlook their own money?
At that moment it became crystal clear: their family’s well-being required that they pay more attention to their personal finances.
If Finances Aren’t Your Thing
Maybe you’re like this couple— in touch with what matters more than money.
Good! Money isn’t your life, and it’s not the most important thing.
Sometimes when we have what really matters, we feel like we have it all.
If money isn’t really your thing, hear me out. Whatever is your thing is probably a lot more important than money. Don’t strengthen your money for money’s sake, but for the sake of what matters more than money.
Your most important thing thrives best when your financial life is solid.
It’s More Learnable Than You Fear
Do you “know” you “should” learn more about money— but dread it? The good news is that you can start small. It’s not all or nothing.
Each new realization will be hard to unlearn, once you see it clearly. And clarity will feel amazing.
One Easy Step To Take
No matter where you are in your financial journey, if you have a checking account, here’s a quick action step to take today:
Find out if your checking account is free— or if you’re getting charged.
This might mean you have to create a username and password (which is no fun, but sometimes it’s the price you pay for awareness— in this case, of the price you pay).
Read guidance from the Consumer Financial Protection Bureau on “Why am I being charged a monthly maintenance fee?”
Sometimes your financial institution offers hoops to jump through to get out of the fee. If you don’t take their required steps, you get charged.
I don’t have the patience to jump through their hoops— keeping a minimum balance or automatic transfers, for example— when there are plenty of checking accounts without them.
If you don’t like the hoops either, search for a free checking account with no fees and no minimum balance requirements.
You’re Perfect for the Job
As much as I’ve come to love learning about money, I must admit: if you could delegate responsibility for your personal finances to someone else, you should!
The problem is: it’s not possible.
No one else has the power you do to make so many life-changing choices for your family. No one sees every aspect of your household as well as you do, and how they all interconnect. And no one will experience the effects of your choices as intimately as your family will.
Which is why it’s undeniable: you are in a better position than anyone in the world to grow your family’s financial strength.
You’re Not on Your Own
Through my newsletter, articles, and financial coaching, I love sharing money guidance— especially when you feel anxious, uncertain, or intimidated by your financial life, because I know how awful that feels.
You’re not on your own. I love shedding light on this sometimes overwhelming topic— because it’s only when you see the landscape clearly that you can lead your family toward the strength, security, and joy they deserve.
Thankfully, technology and professionals can pull a lot of weight. But they help you most when you know enough to navigate wisely through the world of personal finance products and services.
Grow Money-Strong One Doable Step at a Time
Take a few minutes to check on your checking account right now.
Do you pay a fee just to have the account? If so, you can do better. You can open a checking account with no fees.
Here are 3 more easily doable actions that you can take right now:
Take the free Money Strength Assessment
The Bottom Line
Take one quick step today. Then take another action tomorrow. Soon you’ll feel surprised how clear you feel on stuff you thought you’d never understand.
I'm rooting for you!
