3 Reasons To Open a Bank Account in 2022

Bank accounts are necessary for countless reasons.  Beyond just protecting you from financial loss, they help you plan your future and prepare you for large purchases you may have to make. 

If you’re unsure if you should open a bank account: these are the top things to consider.

Do I Need a Job to Open a Bank Account?

If you have savings or are a freelancer and are worried that the only way to open a bank account is to have a direct deposit: don’t worry!  You don’t currently need to be employed to have a bank account.  Although if you were opening a credit card, you’d need one, a debit card and digital checking account don’t usually require you to be employed.  This means you can still safely store your money without fear of anything happening.

1- You Want Your Money to Be Safe

The main reason people open bank accounts in 2022 is to keep their money safe.  Whether you currently store your money in a Paypal account, or you keep it in cash stored away in your home: you’re leaving yourself open for loss.

A bank account will protect you because it’s harder to steal money this way, and if anyone does try to steal your money and does so successfully, most banks insure your funds and will make sure you get your money back.

2- You Want to Start Saving For Your Future

We all have goals and ideas of where our futures will take us: so it’s vital that you take the time to make those a possibility.  A bank account often helps you save money because it gives you a visual representation of how much money you make, how much you spend, and what you’re spending your money on the most.  This will let you keep track of whether you’re spending too much on things like fast food or entertainment and not enough on savings.

3- You Want to Correct Your Credit Score

Credit scores are hard to build up: and easy to ruin.  The good thing is that recognizing that your score needs work is an awesome start.  Building a bank account will help you track monthly payments and get back on a schedule which will allow your score to grow back to something that can score you a house!

Is it Hard to Open a Bank Account?

It’s not hard at all!  To open a bank account, you need to choose a bank or credit union.  Pick one that fills whatever needs you have and has positive reviews.  From here, visit their in-person or online site, pick the account type you want, provide your information and financial history, and then consent to their terms.  You’ll have to sign off on a couple of things to show that you agree to the terms they’ve made.  When you’re done, you’ll just need to fund your account, and then you’re good to go!

Everyone Could Benefit From a Good Bank Account

Whether you’re getting a bank account to start to build your finances, or you’re just trying to make a space to direct deposit your paychecks: a bank account is necessary to most people.  Consider setting one up this year!