Saving as a Family – Choosing a Bank Account

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Many families around the world have to determine how best to save money every month. Choosing a bank account may be an important part of that process. As a family, choosing the right bank account means choosing an account that’s helpful for everyone in the family. How do you decide if a specific company is right for you? Here are five things to keep in mind.

1. Effective Spending Tracking

You want to make sure that it’s easy for you to track all the spending your family does in a month. If you’re not tracking your spending, you’re at much higher risk of spending too much. Make sure the bank you’re looking into gives you simple built-in options to track your spending on a day-to-day and month-to-month basis.

2. Competitive APY Options

APY is an acronym for Annual Percentage Yield, and it’s essentially interest that a bank pays to you. Especially if you’re hoping to open a savings account, it’s a good idea to look into the APY options that are available. These options can help you get more for your money without doing anything, which is always a plus if you’re trying to save.

3. ATMs Available Near You

It’s a good idea to look at the ATM network for a specific bank account in your area. Some bank accounts don’t have a lot of in-network ATMs locally, which can lead to you having to pay fees when you take money out at an ATM. Make sure that there are in-network ATMs available in your local area, or see if the account offers reimbursements.

4. Options for Premium Packages

Premium packages can be a great way to save even more on your purchases. Similarly to annual fees for credit cards, paid packages for bank accounts can be a helpful way to get even more with your account. One of the best options can be if you have an account that can either be free or paid depending on what works best for your family.

5. Good Debit Card Options

While some families only need a checking and savings account that they take money from with checks and bank transfers, most families are going to need something a little more substantial. That’s where debit cards come into play. Make sure that the account you’re building has a debit card option available if you’re planning to use it as your main checking account, as debit cards are mostly how people do business nowadays.


There are many factors to consider when it comes to choosing a bank account, and this choice isn’t always easy. That’s why options like the Aspiration debit card are so popular – they include a variety of choices, many benefits, and an easy way to withdraw money whenever you need it. If you’re choosing a bank account that will work for your family, these five things are all good things to take into consideration, as they’ll likely be an important part of your choice.

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