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Financial literacy is important. Aside from making money, controlling your expenses is the easiest way to financial freedom. From pumping gas at Costco, to shopping for $5 friday deals at Vons and Safeway, there are plenty of ways to cut down one’s spending and stretch your dollar.

Setting aside money every month for various financial goals such as college fund, mortgage, Investment, grocery expenses are excellent ways to start saving. But the best way is to speak to a financial advisor.

Here is a link to a few free financial planners to get you started: https://money.usnews.com/financial-advisors/articles/where-to-find-free-professional-financial-advice

 

Those who are more independent can learn these lessons online through Khan Academy or other materials such as https://www.themuse.com/advice/13-free-classes-to-help-you-manage-your-personal-finances-like-an-adult

There are savings accounts:

  • https://www.amalgamatedbank.com/racial-justice
  • https://mightydeposits.com/posts/bank-black

This section contains information for checking and savings accounts: instructions on opening, welcome deals, and interest rates.

I’d recommend picking an account that suits your needs while being able to maintain the minimum balance.

Account

Interest rate

Direct deposit

Maintenance fee/month

Welcome bonus

Link to sign up

Chase total checking**

0

$500

$12, 0 if balance is above $1500

$300

https://account.chase.com/consumer/banking/EN93969?sitelink=headline&jp_cmp=rb/Retail_Brand_Exact_Chk-Bnk_SEM_IFP_DeskTab_Standard_Control/sea/p25218827199/chase+checking&opti_ca=674189493&opti_ag=34398279276&opti_ad=591937815017&opti_key=kwd-1276254305&gclid=Cj0KCQjw4PKTBhD8ARIsAHChzRJYQR86Fwk3eM5q1l9vkiBHmBheKtZP3fVCzdCUdEDHXKAcWiLKWukaArvTEALw_wcB&gclsrc=aw.ds

Bank of America Advantage plus**

0.01%

 

$25, 0 if balance is above $1500

$100

https://promo.bankofamerica.com/chooseyourchecking1/offer/?cm_mmc=DEP-Checking-_-Google-PS-_-Brand_B_of_A_Checking_Exact-Brand_B_of_A_Checking_Account-_-Brand_Checking&gclid=Cj0KCQjw4PKTBhD8ARIsAHChzRLHAX6lRu5OiSy_OMpoNufj0Ae_O0uZ67nZSRbqNjXYTmszPFGcVJsaAiK6EALw_wcB&gclsrc=aw.ds

Wells Fargo Everyday checking

0.01%

$500

$25, 0 if balance is above $1500

$200, only if direct deposits are $1000/mth

https://bonusoffer.wf.com/bonusoffer200?product_code=CHK&subproduct_code=RC&sub_channel=SEM&vendor_code=G&gclid=Cj0KCQjw4PKTBhD8ARIsAHChzRL-UWlZL1qgbfcLNCL3ednZCqSwGF6mJ7oylTikyb3jBcr8k0aOjJYaAmPuEALw_wcB&gclsrc=aw.ds

Citibank Basic Banking

0.01%

$500

$12, 0 if balance is above $1500

$0

https://online.citi.com/US/ag/account-opening/index?formCode=deposit-ao&product_list=regular_checking,citi_savings&package=basic_checking&cmp=knc_acquire_2106_BAUCHK_Multi_Google_BR&gclid=Cj0KCQjw4PKTBhD8ARIsAHChzRLtaDlHC5bCTMCuefG66OSRW_WMSCZG7AtZ90U0QErS9w_rKvJ-1VkaAuaCEALw_wcB&gclsrc=aw.ds&ProspectID=E22D71D902BB4CB580C85B34A416F13D&Promo_ID=4KNMCNNNY4SGBR&GS=CA

There are other banks with higher interest rates and better deals, but these are the banks with the most ATMs in the country for easy access to cash and banking services at the branch.

**Students can choose to open a student account with lower requirements and monthly fees while enjoying the welcome bonus.