4 Key Signs Your Banking Habits Are Leaving Money on the Table

Building wealth means building good financial habits, such as Budget And pay your bills on time. But what about the things that affect your finances behind the scenes? Are you sure you are accounting for every penny and avoiding leaving money on the table, or is there a disconnect?

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If there is, it’s usually easy to spot where it starts: Your bank. It’s an old saying, but if you take it quite literally — closing the door behind you with piles of cash left on the table — the reality of not being on your money is overwhelming.

To help you identify your best banking habits, GoBankingrates connected with two experts: Sumeet Grover, Executive Vice President at Alliant Credit Unionand John Jordan, Head of Retail Banking at Regions Bank. According to them, here are some Key signs you have room for improvement.

At first glance, flow Account account It may sound like a Sign of wealthespecially if you struggled in your younger years. However, keeping all your money in a checking account means you are missing out on opportunities to grow your money through interest.

“For starters, if you have more than two months of living expenses in your checking account, you may miss out on the higher interest rates available in savings accounts or other investments,” Grover said. “Regular savings accounts often offer very low interest rates. Switching to a high-yield savings account can significantly increase your earnings on your savings.”

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Monthly fees may seem like a minor inconvenience, but they can add up quickly. Grover advised that you keep an eye on the fees you incur, such as maintenance fees, ATM fees, and overdraft fees.

You should also look for accounts that offer holdbacks on fees or payments. Paying attention to the fine print and choosing a no-fee bank account—or one that waives fees if you meet certain requirements, such as direct deposit—can save you hundreds of dollars annually.

In addition to reducing fees, you should also be on the lookout for ways to earn rewards from your daily spending.

“If you’re not using a credit card that offers cash back or other rewards, you may be missing out on valuable benefits,” Grover said. “By tackling these habits, you can make your money work harder for you and avoid leaving money on the table.”

Check out the benefits of your current credit card and see if it makes sense to switch to one that better matches your spending habits to get the most rewards while avoiding high annual fees.

Monitoring these habits should be part of a broader A financial plan that prioritizes long-term success. According to Jordan, one of the biggest mistakes you can make is procrastinating on developing that plan and putting your money as a top priority.

He notes that this delay can sometimes have a gendered aspect, with women disproportionately putting everyone else’s needs—whether it’s work, running a household, or caregiving responsibilities—before their own financial well-being.

However, Jordan reminds us that “time is money.” He warns that if a woman does not attend to her own money every day, she may lose an opportunity to profit from a rising market.

“Don’t delay talks to roll out workplace 401(k)s, improve bank deposit pricing, or Debt consolidationHe said.

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This article originally appeared on GoBankingrates.com: 4 Key Signs Your Banking Habits Are Leaving Money on the Table