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If you’re like the majority of us, every penny counts when you’re starting out in your career. Just getting the necessities can be a major day to day struggle which makes it so very easy to ignore the age old advice that you should put money aside for the future.


In the past, it was almost unheard of to earn interest on your checking account unless you carried a significant balance from month to month. Even if you did carry that balance, the rates were still pretty low. Fortunately, this is no longer true across the board. There are checking accounts out there that offer some pretty decent interest rates which can help you start building your nest egg no matter how little you have coming at the moment.


You can find a nice sized list of financial institutions that offer these High Yield Reward Checking Accounts at DepositAccounts.com. Just like reward credit cards, these accounts reward customers who are active users with some pretty hefty interest rates that range between 4.09% and 2.51% as of the date of this article. The best thing about these accounts is that most of them have no minimum balance requirement to qualify.


Instead, you earn the interest by using their debit cards, setting up direct deposits, or using the bank’s online bill pay. Each institution has its own rules, so a little research will be required to determine which one best serves your banking needs.


Since the goal is to use these accounts to build your savings, it may seem a little counterintuitive to have to use your debit card so often during the month. Don’t let this scare you. You just have to think out of the box a little bit to make it work.


As long as the institution has not placed a qualifying amount on the transactions, there’s no reason that you can’t do twelve transactions of four cents each. If you combine this with couponing, you might be surprised how easy this can be. Depending on how much you have in the account, you could be working on interest only here without ever touching the principal causing the balance to grow that much faster.


Another way to get your required transactions in is to pay for items separately when you go shopping. If you pay for your loaf of bread and carton of milk separately instead of all together, you’ve knocked out two transactions without much thought. The same applies for gas stations. Fill up your tank a few cents at a time until you’ve hit the required number of transactions then put the card away so the remaining balance earns that high interest rate.


The key is to meet their criteria so that you can build wealth when you don’t have a lot of start up capital to work with. All it takes is a little resourcefulness. Before you know it, you’ll have the advised nine month’s worth of expenses sitting in your High Yield Reward Checking account. Earning even more interest. Doesn’t that sound awesome?

High Yield Reward Checking the Sassy Saver Way

Bank Or Credit Union

Consumers Credit Union (IL)

Lake Michigan Credit Union

First National Bank (LA)

Coulee Bank

Danversbank

Atlantic Coast Bank

Community Bank of Pleasant Hill

Community Bank of Raymore

APR

4.09

4.00

3.55

3.03

3.01

3.01

2.51

2.51

Product

Reward Checking

Max Checking - Qualifying

Kasasa Cash

Reward Checking

Free Rewards Checking

iKasasa Cash

Reward Checking

Reward Checking

Debit Transactions

12

10

12

10

12

10

10

10