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Admittedly, checks and checkbooks aren’t as popular as they were in the past, when they were a standard way to pay for life’s daily expenses. But that doesn’t mean that balancing a checkbook isn’t still a valuable skill and an important way to keep your budget in good shape.

It’s a smart idea to keep tabs on how much is coming into your checking account and how much is going out. This helps you avoid bouncing checks (and paying those steep overdraft fees), spot errors and fraud attempts, and know how well you are doing in terms of spending.

Here, learn the four steps of balancing your checkbook.

What Does Balancing a Checkbook Mean?

Balancing a checkbook refers to the process of reconciling and cross-checking the many transactions that occur in your checking account.

To summarize the process of balancing your checkbook: This involves recording all of your deposits and withdrawals on a regular basis, adding and subtracting them as you go, and then comparing your numbers to the bank’s to make sure they agree.

Benefits of Balancing Your Checkbook

Balancing your checkbook, whether with personal vs. business checks, comes with a number of key benefits. These Include:

Knowing Your Balance in Real Time

When you log every transaction, you add to your balance if it’s a deposit or subtract if you’re paying a bill. In this way, you are able to know the true balance of your account, which may not yet be reflected online or in your app.

That’s because when you write a check against your account, the bank won’t deduct those funds from your account until the person you gave the check to deposits it.

Your bank app may show you have $2,000 in your account but if you wrote a $1,000 check yesterday, you actually only have $1,000 available to spend.

Tracking Your Spending and Sticking with Your Budget

During the balancing process, you look at every transaction in your checking account for a period of time, whether it’s a day, a week, or a month.

You might find that you’re spending more than you thought or taking out more cash from the ATM each month than your current budget (whichever type of budget you use) allows.

Balancing your checkbook on a regular basis can help you monitor your spending, and help to ensure you’re able to maintain your savings goals.

Reviewing Your Account for Errors, Fraud, or Billing Changes

Regular reviewing and tracking of your account’s expenditures can help you immediately spot any purchases or transfers of money that you don’t recognize.

You may also pick up on bank fees you are being charged that you weren’t aware of or that are new.

Or you might notice that one of your autopay bills has gone up in price. If your payments are processed automatically without your review, those increases could go unnoticed and unaddressed for months, disrupting your cash flow and possibly causing other financial issues down the line.

Recommended: Can I Use Checks With an Old Address?

Are There Reasons Not to Balance Your Checkbook?

You don’t need to balance your checkbook if you are using and are satisfied with another method to keep tabs on your spending. For instance, if your bank offers an app that works well for you, fine. Or perhaps you are in the habit of monitoring your checking account regularly and feel comfortable with that process.

As noted above, however, there can be a lag time between when you write a check or even swipe a debit card and when the charge is actually debited. This may lead you to believe you have more money on deposit than you truly do. That may motivate you to balance your checkbook instead.

How to Balance a Checkbook in 4 Steps

Here’s an easy step-by-step approach to balancing your checkbook.

1. Recording Your Current Balance

Here’s the first step toward reconciling your checkbook register: logging your bank account balance.

•   You can quickly find your checking account balance by going on your bank’s website or using its mobile app.

•   If you’re using a paper checkbook register, you can then record this number in the top spot above the spaces you use to log your transactions.

•   If you don’t have a register or prefer to go digital, you can create your own register on your computer or use an open source spreadsheet platform, such as Google Sheets. An online spreadsheet has the advantage of being accessible anytime from any device.

That’s it for the first step in balancing your checkbook.

2. Recording Any Pending Transactions

The next step in balancing your checkbook involves recording transactions that haven’t fully processed yet.

•   Account for any pending transactions. These are transactions that you know are coming, but have not yet cleared. For example, when you deposit a check (whether at a bank, ATM, or mobile deposit), your bank might release only part of the funds immediately, placing a hold on the rest of the money until the check clears.

Similarly, when you pay for something with your debit card or a check, the transaction may take a day or two to go through.

•   You can write down the date of the transaction and a brief description and, if it’s a check, the check number.

•   Do the math next: Starting with the first transaction you enter, subtract the amount from your available balance, or, in the case of a deposit, add it to the balance.

•   Then record the new amount on the next line of your register. You can continue doing this until all transactions are reconciled. The final number is (ta-da) your current available balance: the actual amount you have in the account to spend.

3. Continuing to Record Transactions

Next, you can log transactions as they happen or at regular intervals.

•   As you continue to make transactions, you can then record them in your register or spreadsheet so you have a running tally of your debits, credits, and current balance. You’ll want to account for both checks, debit card usage, and deposits to the account.

You can do this as you go, or you can collect your receipts and record them in your checking register or spreadsheet at the end of the day or week.

Recommended: Differences Between Current Balance and Available Balance

4. Comparing Your Numbers

Now it may be time for a little bit of cross-checking detective work:

•   Once or twice a month, it’s a good idea to log on to your account and compare your bank’s total withdrawals and deposits and balances with your own records. If they match, you’re in good shape; you have a balanced checkbook.

If the numbers don’t align, you may then want to go back through your records, as well as the bank’s transaction history, to see where the discrepancy lies.

You may find that you forgot to record a transaction or you wrote down a number incorrectly, or made a simple math error. Or perhaps you forgot to account for account fees or a miscellaneous charge that was deducted.

Or you might pick up an error on the bank’s part, a change in the amount a vendor is billing you, or a potentially fraudulent charge. Generally, the quicker you pick up and address any discrepancies the better, particularly in the case of bank fraud or identity theft.

What Is a Check Register?

A check register is a compact booklet that acts as a kind of spreadsheet, helping you record transactions and tally your checking account’s balance.

These typically come when you order checks, or you can buy them at some retailers or online vendors.

Check registers can be a valuable tool in balancing your checkbook and staying on budget.

Recommended: How to Deposit a Check

Is Knowing How to Balance a Checkbook Now Obsolete?

Knowing how to balance a checkbook may be less vital than it was in the past, but it is still an important skill for tracking incoming funds, outgoing payments, and your total amount of money on deposit.

If you don’t like the paper and pencil aspect of balancing a checkbook, you can use apps and digital tools to keep tabs on your funds.

Digitally Balancing a Checkbook

If you are the type of person who doesn’t like writing down numbers and calculating your available balance on paper, you can use digital tools to help the process along.

There are apps that promise to help you balance your checkbook, but some involve a fair amount of data entry. Your financial institution may offer tools (online and in an app) to help you check your balance, see charges, view pending transactions, and more. For many people, these can be a way to keep tabs on their account balance.

The Takeaway

Even in an increasingly paperless world, it can still be important to balance your checkbook. Regularly balancing your checking account can give you a clear sense of not only how much money is in your bank account, but where your money goes. It typically takes four steps to balance your checkbook, or you can use digital tools. Whichever way you choose to take action, this process can help you track your spending, avoid bouncing checks, detect billing changes, and also spot errors or even fraudulent charges as soon as they happen.

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with eligible direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.

FAQ

Is balancing a checkbook still necessary?

While balancing your checkbook isn’t as common as it was before, it is still a valuable way to keep tabs on the money in your checking account, spot errors, and identify any suspicious activity. It is also a wise move if you are trying to stick with a budgeting method and avoid overdrafting your account.

How do you balance a checkbook that hasn’t been balanced before?

You can start balancing your checkbook at any time. View your balance online, and log it in your checkbook. Account for any pending transactions, and then, going forward, note deposits, withdrawals and other debits, plus any fees that are taken out of your funds.

How often should you balance your checkbook?

It can be wise to balance your checkbook in real time. That means, it can be smart to note any checks you write as you do so, and log debit card transactions as they happen so you don’t forget about them. For some people, though, this isn’t convenient, and they prefer to spend a few minutes reconciling their checkbook once or twice a week. The choice is yours.

SoFi Checking and Savings is offered through SoFi Bank, N.A. Member FDIC. The SoFi® Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet

Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.

Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them.

Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder's Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility.

See additional details at https://www.sofi.com/legal/banking-rate-sheet.
*Awards or rankings from NerdWallet are not indicative of future success or results. This award and its ratings are independently determined and awarded by their respective publications.

We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

This content is provided for informational and educational purposes only and should not be construed as financial advice.

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

Third Party Trademarks: Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®

SOBNK-Q125-038

Negative interest rates mean borrowers could be rewarded for taking out loans. Here’s an explanation of other effects negative rates might have.

A debit card combines some of the features of an ATM card and a credit card to give you an easy way to access cash and pay for purchases. For many people, tapping, swiping, or entering their digits online has become a favorite way to conduct everyday financial transactions.

Debit cards resemble credit cards, but they don’t involve a line of credit or accruing interest charges; the money spent is deducted directly from your checking account. This (and other features) can be a benefit or a downside, depending on your particular situation.

Debit Cards Defined

A debit card is a payment card that allows you to spend money without carrying cash.

When you use a debit card, the funds are your own, so there’s nothing to pay back later.

Most debit cards look just like credit cards. They typically feature an account number on the front, along with the cardholder’s name and the expiration date.

There will likely also be a smart chip on the front, along with a logo in the lower right-hand corner that tells you which payment network the card is connected to (such as Visa, Mastercard, or Discover). On the back you’ll likely see a place to sign, as well as a three-digit security code (CCV).

But there are some major differences between debit cards and credit cards.

When someone uses a credit card the money is borrowed. Credit card holders receive a bill every month for what they owe, and the balance must be paid in full or they can be charged interest.

When you use a debit card to get cash or make a purchase, the money comes directly from an account you have with a bank or some other type of financial institution, typically a checking account. The funds are your own, so there’s nothing to pay back later.

How a Debit Card Works

Now that you know what a debit card is, here’s how a debit card typically works:

•   You tap, swipe, or insert the card at a terminal and enter your PIN (personal identification number) in many cases. The PIN adds a level of security to the transaction.

•   The information is communication (the amount of your purchase) and your bank verifies that the funds are available in your checking account. The transaction is approved in that case, or it will be denied if you don’t have enough funds available.

•   In a similar way, a debit card can allow you to deduct funds from an ATM.

Worth noting: Debit cards may have spending limits capping the amount you can use in a single day, even if you have more than that amount on deposit. Check with your financial institution to learn what may apply.

Features of a Debit Card

Debit cards have many features that make them an asset to managing your financial life:

•   Safer than carrying cash

•   More convenient that using checks, plus no fee for ordering checks

•   Quick and easy way to make purchases or access cash

•   Accepted for purchases by many vendors

•   Does not charge interest since it draws directly from your bank account

•   Typically don’t charge fees

•   May offer cash back rewards

•   May have daily spending limits

How Do You Get a Debit Card?

If you don’t already have one, you may wonder how people get debit cards. These are the steps to getting a debit card:

1.    Open a checking account: Checking accounts (whether at a bank, credit union, or online financial institution) typically come with a debit card at no cost that can be used to get cash at ATMs or to make purchases.

A brick and mortar bank may be able to issue customers a new debit card right away. With an online institution, it might take a few days for the card to come by mail. Card holders also receive a personal identification number (PIN), which is a security code they’ll use with their account.

2.    Activate the card: Typically, you can activate a new debit card at the financial institution’s website, at one of its ATMs, or by calling a designated phone number and answering or keying in some basic identifying information.

3.    Start using your card. You should be ready to start tapping, swiping and entering your card’s digits online to make purchases.

Where Can You Use a Debit Card?

A debit card can be used to make withdrawals at an ATM, to make in-person or online purchases, and to make automatic payments for recurring bills.

Each type of transaction works a bit differently. Here are tips for using your debit card.

At the ATM

One of the great conveniences a debit card has to offer is that it can be used to get cash (or make a deposit, transfer funds, or just view your account balance) just about anywhere there’s an ATM.

You just push your debit card into the slot, and enter your PIN to get access to your account. Once you finish and retrieve your receipt and debit card, it’s a good idea to double check that the machine has returned to its welcome screen before turning it over to the next user.

If you use an ATM that’s not in your bank’s network, you could end up paying a non-network fee to your bank and an ATM surcharge to the ATM’s owner. If you’re overseas, you might also be charged a foreign transaction fee.

If you’re a big-time ATM user, you might be able to avoid ATM fees by scouting out in-network ATM locations in your area or where you are going to be traveling ahead of time. Or you might open an account at a financial institution that doesn’t charge fees and/or reimburses certain fees.

In-Person Purchases

The process for using a debit card to purchase goods or services can be a little different from one merchant to the next.

Typically a customer will be asked to swipe, insert, or tap their debit card themselves at a card reader on the counter, then may be prompted to authorize the purchase, either by entering their PIN or by signing as they would with a credit card.

Either way, the money to pay for the purchase comes out of the card holder’s account, though the transactions are processed somewhat differently.

The transaction method also may affect any points or other rewards a card holder is hoping to earn on a purchase. Some programs reward PIN purchases only, some reward signature purchases only, and some reward both.

A retailer also may allow customers making a PIN transaction to ask for cash back on top of the total amount of their purchase, so they don’t have to make a separate trip to an ATM. However, you may be charged a small fee for this convenience.

Online Purchases

You usually can use a debit card online, even if you do not see “debit card” listed as a payment method when you want to buy something online. But if there’s a credit network logo on the front of your debit card, you should be able to use your card for the transaction.

When a merchant’s website asks for a payment method, debit card users can choose “credit card,” then enter their debit card account number, expiration date, and three-digit security code (CCV) to have the purchase processed as a signature transaction. (A PIN transaction won’t be a payment option online.)

Automatic Payments

A debit card also can be used to make automatic payments on monthly bills, such as student loans, car loans, subscriptions and memberships, and utility bills.

To set up automatic debit payments, the card holder provides the company with a debit card account number, expiration date, and CCV, and authorizes future electronic withdrawals. The payment can be the same amount every month, or, if the amount is likely to vary a bit from month to month (as utility bills generally do), the card holder can specify a range.

With automatic debit payments, card holders give businesses permission to take payments from their account, which is different from arranging with the bank to make authorized recurring payments. In both cases, however, it can be important to track those payments and be sure the transactions are accurate.

Is There a Difference Between a Debit Card and an ATM Card?

There are differences between a debit card and an ATM card to note:

•   A debit card can be used to make withdrawals at an ATM, but it also can be used to make purchases and to pay bills.

•   An ATM card can be used only to get funds from a checking or savings account at an ATM machine.

Is it Better to Use a Credit Card or Debit Card?

As with most financial tools, it’s up to each individual to decide what works best for them. Here are some ways to evaluate the pros and cons of using a debit card vs. a credit card.

Budgeting

Using a debit card for a majority of transactions may make it easier to stick to your budget, because you can spend only what you have in your account. You aren’t borrowing money as you would with a credit card, so you may find yourself paying more attention to every purchase and whether you can really afford it.

With a credit card, it can be tempting to pay now and worry about the bill later. If you’re super disciplined about paying off your entire credit card balance every month, that might work for you.

But if, like many Americans, you’re likely to carry forward a balance on your credit card (or cards) every month, the debt could eventually grow out of control with interest.

Convenience

Both debit and credit cards are easy to use, but there are a few ways in which debit cards may have an edge when it comes to convenience.

•   It’s easier and cheaper to get quick cash with a debit card. You can get a cash advance with a credit card, but you may have to pay a hefty fee and a higher interest rate on the advance. And with a cash advance you could be charged interest starting on the day you receive the money — there’s no grace period as there is when you make a purchase with a credit card.

•   You may be able to get a physical cash advance when making a purchase. That benefit usually isn’t available with a credit card.

•   It’s generally easier to get a debit card than a credit card. Most financial institutions will automatically give customers a debit card when they open an account. Getting a credit card can be harder, especially if you’re under 18, don’t have any verifiable income, have a poor (or no) history with credit, or lack the typically required identification documents. The requirements are tougher for credit cards because lenders want to be sure their borrowers are capable of repaying their debts.

Penalty Fees

No matter what kind of card you use — debit or credit — you could face a penalty fee if you spend more money than you currently have available.

With a debit card, you may incur an overdraft fee if you spend more than you have in your account (when making a signature purchase, for example, or when using autopay).

With a credit card, you could face an over-limit fee (if you push your balance over your credit limit), a late-payment fee if you fail to make your minimum monthly payment, or a returned payment fee if for some reason your payment isn’t accepted.)

Rewards

Credit cards can be more likely to offer extra perks than debit cards, such as cash back rewards or points that can be used for travel, though some debits do offer points and rewards.

Spending Limits

One of the things that can make a debit card really useful is that it’s difficult to spend more than you have. But that also can be a drawback if you need to make an expensive purchase. Even if you have a hefty amount of money in your account, you may encounter a daily spending limit when using a debit card.

Those daily limits are meant to protect account holders by limiting the amount fraudsters could spend with a stolen debit card. But if you aren’t aware you have a limit or don’t know what the limit is, you could get an unpleasant surprise when making a major purchase. Don’t know what a debit card’s limit is? Ask your bank.

If you find out you have a debit limit and feel it’s too low, you may be able to request an increase.

Of course, credit cards have spending limits, too, in the form of available credit. Those who go over their credit limit could have their card declined or they might have to pay a fee. Credit card users can check their monthly statement online or in person, or call customer service to see where they stand.

Building Credit

This may seem like a bit of irony, but even though consumers may be trying to be financially responsible by using a debit card whenever they can, they won’t be directly building their credit score.

Lenders often use credit scores to determine if a person qualifies for a loan or credit card, or a better interest rate when borrowing money. It reflects an individual’s past credit history and shows how well they’ve handled credit in the past.

When someone uses a debit card to pay for goods and services, the money is coming from their own account, so it doesn’t impact their borrowing record. If you use a debit card to stay out of debt and to make car or student loan payments on time, though, it might indirectly help your credit standing.

Safety

A debit card is linked to your bank account, so if a thief gets hold of your physical card or just your card number, any money they take is yours — not the bank’s, as would be the case with a stolen credit card.

And that could cause a lot of problems if you don’t notice and report the problem swiftly, according to the Federal Trade Commission (FTC).

Debit card use is protected by the Electronic Fund Transfer Act (EFTA), which gives consumers the right to challenge fraudulent charges. But card holders have to act with some speed to get full federal protection.

And those protections aren’t quite as substantial as the federal law that covers credit card theft, the Fair Credit Billing Act (FCBA).

If your debit card is lost or stolen, you could have zero liability if you report it before any unauthorized charges occurred. If you report a lost or stolen card within two business days, your loss may be limited to $50. But if you wait more than 60 calendar days after you receive your statement to make a report, you could lose all the money a thief drains from any account linked to your debit card.

That may sound scary, but if your debit card is backed by a credit card network (like Visa or Mastercard), you likely have the same “zero liability” protections credit card users have.

Recommended: 50/30/20 Budget Calculator

Debit Card Alternatives

If you don’t have a debit card or prefer not a use one, here are some options:

•   Cash. It’s still a form of payment that’s accepted at many retail locations.

•   A check. For paying bills or making purchases (typically from smaller vendors), you may be able to write a check.

•   Prepaid cards (also called prepaid debit cards in some cases). Available at various retail stores, these cards hold the amount of cash you put on them. Some are meant for one-time use; others can be reloaded with additional funds through an app, direct deposit, money transfer, or with cash at a store that offers this service.

Prepaid cards usually work at any ATM or retail location that accepts the card’s payment network. However, there are pros and cons of prepaid debit cards. They tend to come with more fees and fewer protections than traditional debit cards.

The Takeaway

Debit cards are typically offered along with a checking account. You can use a debit card to quickly get cash, either from an ATM or by using the cash back function offered by many merchants. You can also use your debit card to purchase goods and services and even use it for autopay. Because you are using the cash you have on deposit, you don’t accrue any interest fees, but you are likely not building your credit either. These cards can be a convenient aspect of your daily financial life.

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with eligible direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.

FAQ

Are there debit card fees?

Typically, debit card use does not incur fees. However, if you use it at a non-network ATM to withdraw cash, you could be hit with a fee. Also, if you overdraft your account when swiping, that could incur charges. Lastly, the checking account that it’s connected to may or may not be fee-free.

What do the numbers on a debit card mean?

The numbers on a debit card are similar to the numbers on a credit card: They identify the issuer involved and uniquely capture your account number.

Are debit cards safe?

Debit cards are typically safe, but they can be stolen or lost, which could allow someone to make unauthorized transactions. Plus, the hackers of the world are usually trying to steal people’s information. That said, using a PIN helps protect transactions, and if you report the loss or theft of your debit card within two business days, your liability should be capped at $50. Some cards offer zero-liability protection.

SoFi Checking and Savings is offered through SoFi Bank, N.A. Member FDIC. The SoFi® Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 12/23/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet

Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.

Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them.

Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder's Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility.

See additional details at https://www.sofi.com/legal/banking-rate-sheet.
*Awards or rankings from NerdWallet are not indicative of future success or results. This award and its ratings are independently determined and awarded by their respective publications.

We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

This content is provided for informational and educational purposes only and should not be construed as financial advice.

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

Disclaimer: Many factors affect your credit scores and the interest rates you may receive. SoFi is not a Credit Repair Organization as defined under federal or state law, including the Credit Repair Organizations Act. SoFi does not provide “credit repair” services or advice or assistance regarding “rebuilding” or “improving” your credit record, credit history, or credit rating. For details, see the FTC’s website .

External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.
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Gas prices hit new highs in 2022. And while they’ve fallen since that spike, the government expects prices to drop even more in 2025 and 2026. Keep reading to learn more about historical gas prices, get a sense of how things have changed over time, and learn tips for finding cheap gas in your area.

Why Gas Prices Are Falling in 2025

As anyone who’s gone to the pump in the past couple of years knows, filling up isn’t as cheap as it used to be. Gas prices rose in the second half of 2023, due in large part to a drop in global oil production. And though they fell somewhat in 2024, they remained stubbornly higher than before the pandemic.

Thankfully for drivers, gas prices are expected to drop even more in 2025 and 2026, as crude oil prices are projected to fall. According to the U.S. Energy Information Administration (EIA), prices at the pump will average around $3.20 per gallon in 2025, a decrease of more than 11 cents per gallon from 2024. The annual average price of gas is expected to drop even more — to $3.00 per gallon — in 2026.

If fill-ups are putting a dent in your wallet, consider using a money tracker to monitor spending and create budgets.

Average Price by State for Regular Unleaded in October 2023

Data is courtesy of AAA .

Average Price by State for Premium in February 2025

Data is courtesy of AAA.

Average Price by State for Diesel Gas in February 2025

Data is courtesy of AAA.

Average US Gas Price 1978 to 2022

Historical data is courtesy of the EIA and the Bureau of Labor Statistics.

Tips for Finding Cheap Gas Stations in Your State

There are a few ways to find the cheapest gas in the nearby area and save money on your gas bill:

•   Use an app like GasBuddy to locate the lowest nearby price. The app lets drivers search by gas type, payment type, the brand of gas station, and other factors. The app also offers cashback deals, paid subscriptions, and more.

•   AAA has a gas price monitoring website that gets updated every day. Drivers can search by state and country to find the best prices.

•   Both Google Maps and Waze keep track of gas prices. When you search for gas stations within their maps, the price of gas at local stations will pop up. Although one can’t filter by price or automatically see the lowest price, it’s fairly easy to look around and find the cheapest option.

•   Another useful app is Upside. The app lets users compare gas prices near them, and also earn cash back every time they fill up their tank.

•   Besides the ability to buy in bulk, one of the perks of getting a Costco or Sam’s membership is getting discounts on gas. It’s often the cheapest option for club members.

•   Certain days of the week tend to have lower prices. Generally, Mondays are the cheapest, followed by Sunday, while Wednesday and Thursday are the most expensive days.

Recommended: What Credit Score Is Needed to Buy a Car

The Takeaway

Gas prices go up and down in response to a variety of global and domestic factors. But there are a few ways to source the best deals on gas and stay within your budget, including apps and membership-only retailers.

Take control of your finances with SoFi. With our financial insights and credit score monitoring tools, you can view all of your accounts in one convenient dashboard. From there, you can see your various balances, spending breakdowns, and credit score. Plus you can easily set up budgets and discover valuable financial insights — all at no cost.

FAQ

What was the price of gas in 1980?

In 1980, the average price of gas was $1.22. That is equivalent to $4.56 in 2025 dollars.

What year were gas prices the highest?

In June 2022, gas prices in the U.S. hit an all-time high of $5.00.

How much did gas cost in the 90s?

In the 1990s, gas cost between $1.11 and $1.15 per gallon.

Photo credit: iStock/skodonnell
SoFi Relay offers users the ability to connect both SoFi accounts and external accounts using Plaid, Inc.’s service. When you use the service to connect an account, you authorize SoFi to obtain account information from any external accounts as set forth in SoFi’s Terms of Use. Based on your consent SoFi will also automatically provide some financial data received from the credit bureau for your visibility, without the need of you connecting additional accounts. SoFi assumes no responsibility for the timeliness, accuracy, deletion, non-delivery or failure to store any user data, loss of user data, communications, or personalization settings. You shall confirm the accuracy of Plaid data through sources independent of SoFi. The credit score is a VantageScore® based on TransUnion® (the “Processing Agent”) data.

Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

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YouTube is a lucrative platform for both marketers and content creators. YouTube had 2.5 billion unique monthly visitors and 30 billion visits per month in 2024 — more than Amazon, Facebook, Instagram, or Wikipedia — making it an advertiser’s nirvana. Talented influencers flock to YouTube to create video channels, and many earn around $60,000 per year on the platform from advertisers. However, they generally need at least 4,000 hours of unique content and at least 1,000 subscribers to do so.

Here’s a closer look at the average payouts for YouTubers and the heftier payouts for celebrity influencers with outstanding content.

How Much Do YouTubers Make on Average in 2025?

The salary and career website ZipRecruiter reports that the average YouTuber made around $62,052 per year as of January 2025. That’s competitive pay for an entry-level salary. The highest salaries for YouTubers are around $89,000, while the lowest are around $48,500. Interestingly, the range between higher- and lower-paid YouTubers is only around $8,000, implying that experience does not lead to significant advancement.

ZipRecruiter also finds 10 cities where the typical salary for a YouTube Channel job is above the national average. The leading city is Nome, Alaska (average salary $76,975), followed by Berkeley, California ($75,979), Sitka, Alaska ($74,753), and San Francisco ($73,108). Although YouTube salaries are higher in Alaska and California, the cost of living in both states is also high, which might cancel out any salary gains.

Top 10 YouTubers for 2025

The following is a list of the 10 most-subscribed YouTubers along with a brief overview of the reasons for their online appeal. The data were sourced from Search Engine Journal, an online news source for the SEO and marketing community.

1. MrBeast

Subscribers: 351 million

MrBeast, aka Jimmy Donaldson, is a young YouTuber and philanthropist originally from Greenville, North Carolina. He began posting videos in 2013, when he was just 13 years old. He went viral in 2017 with his “counting to 100,000” video. His videos include survival challenges, vlogs, and philanthropic content. Other than the MrBeast channel, Donaldson also runs Beast Reacts, MrBeast Gaming, MrBeast 2, and a philanthropy channel called Beast Philanthropy.

2. Like Nastya

Subscribers: 125 million

PewDiePie, or Felix Arvid Ulf Kjellberg, is a Swedish gaming YouTuber. He registered his channel “PewDiePie” in 2010 and primarily posted videos of himself playing horror and action video games. His channel was one of the fastest-growing channels in 2012 and 2013, and it soon diversified to include vlogs, comedy, shows, music videos, and fundraising. Some of Kiellberg’s content became controversial, and after 2019, Kjellberg semi-retired and uploaded less consistently. In 2016, he was named one of the world’s most influential people by Time magazine.

3. PewDiePie

Subscribers: 110 million

PewDiePie, or Felix Arvid Ulf Kjellberg, is a Swedish gaming YouTuber. He registered his channel “PewDiePie” in 2010 and primarily posted videos of himself playing horror and action video games. His channel was one of the fastest-growing channels in 2012 and 2013, and it soon diversified to include vlogs, comedy, shows, music videos, and fundraising. Some of Kiellberg’s content became controversial, and after 2019, Kjellberg semi-retired and uploaded less consistently. In 2016, he was named one of the world’s most influential people by Time magazine.

4. Alan Chikin Chow

Subscribers: 76.2 million

Alan Chikin Chow is an actor, influencer, and the most-watched YouTube Shorts creator. According to Variety, his content gets 1 billion views in any given month. Chow is also the creator of “Alan’s Universe,” a popular drama about love and friendship that routinely gets more than 500 million views. In 2024, his YouTube channel ranked among the platform’s 50 most-subscribed channels globally.

5. Justin Bieber

Subscribers: 74.7 million

Justin Bieber is known, first and foremost, as a Canadian musician. His original YouTube channel was called Kidrauhl — so named because his father called himself “Lordrauhl.” Bieber posted videos of his songs on Kidrauhl and became famous through the platform. Bieber’s channel Kidrauhl was renamed “Justin Bieber” in 2017.

6. EminemMusic

Subscribers: 64 million

Marshall Bruce Mathers III, known as Eminem, is an American rapper, songwriter, actor, and record producer. His debut album, “Infinite,” was released in 1996. Rolling Stone has included him in its lists of the 100 Greatest Artists of All Time and the 100 Greatest Songwriters of All Time. In November 2022, Eminem was inducted into the Rock and Roll Hall of Fame. His YouTube channel features his music videos and is called EminemMusic.

7. Mark Rober

Subscribers: 63.5 million

No stranger to stunts, Mark Rober has amassed a following on YouTube thanks in large part to a slew of attention-grabbing projects. Examples include building the world’s largest Nerf gun and Super Soaker, glitter bombing porch pirates, and creating an obstacle course for squirrels. That he’s able to pull off such impressive feats should come as no surprise to his millions of subscribers, who are likely already familiar with Rober’s background as a NASA engineer.

8. Fede Vigevani

Subscribers: 63.1 million

Fede Vigevani, also known as Fede, is a Uruguayan musician and YouTuber who’s now based in Medico City. He was part of the YouTube group Dosogas before going solo in 2018. In addition to music, his popular YouTube channel is filled with lighthearted content known for its humor, pranks, and challenges.

9. Taylor Swift

Subscribers: 60.6 million

Taylor Alison Swift is an American singer-songwriter. She was born in West Reading, Pennsylvania, but moved to Nashville at age 14. Her 2006 debut album “Taylor Swift” made her the first female country artist to write a U.S. platinum-certified debut album. Swift is one of the best-selling musicians in history and the only person to have seven albums open with over one million copies sold in the United States. Swift has been named in Rolling Stone’s 100 Greatest Songwriters of All Time. She has also been named Artist of the Decade and Woman of the Decade and is an advocate for artists’ rights and women’s empowerment.

10. Alejo Igoa

Subscribers: 58.7 million

Alejo Igoa is an Argentinian actor, model, and YouTuber whose channel features a heavy rotation of challenges, comedy skits, and vlogs that occasionally include his family and friends. He’s also popular on TikTok, where he often posts dance and lip-sync videos, and on Instagram, where he shares his modeling photos and updates on his life.

How Much Money Does a YouTuber Make Per View?

YouTubers make money from advertisers who place ads with their videos. YouTubers are paid based on how many of their viewers watch the ads that accompany their content. Even if a video gets thousands of views, if no one watches or clicks on the ads, the YouTuber won’t make any money. For a YouTuber to be compensated, a viewer must either click an ad or watch the video ad in full. According to data from Influencer Marketing Hub, the average YouTube channel receives around $0.018 per view.

Recommended: 25 Easy Jobs That Make a Lot of Money With Little Work Without College

How Much Do YouTubers Make Per 1,000 Views?

A YouTuber earns roughly $18 per 1,000 ad views. YouTuber earnings vary depending on whether a video is short- or long-form. YouTubers’ reported income per 1,000 views range between $1.61 and $29.30 for long-form videos. For short-form videos, the payouts were between $0.01 to $0.06 per 1,000 views.

How Much Does a YouTuber Make With 1 Million Subscribers?

The money made on YouTube may not be consistent, particularly for creators who don’t upload new content regularly to ensure a growing following. One YouTuber with 1 million subscribers made between $14,600 and $54,600 per month.

Recommended: 25 High-Paying Trade Jobs in Demand

How Much Ad Revenue Does YouTube Pay Content Creators?

According to Influencer Marketing Hub, creators earn about 55% of the revenue on their channels — for every $100 an advertiser pays, Google pays $55 to the creator. It’s unlikely that a creator will make much money until there is significant traffic to the site and viewers click on ads.

There are some ads that pay per thousand views, but for the view to be counted for payment, a viewer must watch an ad for at least 30 seconds (or half the ad for a very short video). If viewers do click on or view ads for long enough to earn income, the creator shares any advertising revenue with YouTube. Creators only get paid once their AdSense account reaches $100.

Whether you’re raking in millions of subscribers or just starting out, a spending app can help you create a budget, organize spending, and manage bill paying.

The Takeaway

With 2.5 billion unique monthly visitors and 30 billion visits per month, YouTube is a go-to platform for entertainment, education, and marketing. Many YouTubers and celebrities reap millions from ad revenue by posting music videos, gaming videos, entertainment, and educational content. However, for the less famous, it is possible to earn $60,000 to $80,000 a year, which is a competitive salary. YouTubers need traction and a significant following. Pay-outs are typically based on ad views and are made through Google AdSense.

Take control of your finances with SoFi. With our financial insights and credit score monitoring tools, you can view all of your accounts in one convenient dashboard. From there, you can see your various balances, spending breakdowns, and credit score. Plus you can easily set up budgets and discover valuable financial insights — all at no cost.

FAQ

How much does a YouTuber make a year?

ZipRecruiter reports that the average YouTuber makes around $62,052 per year as of January 2025. The highest salaries are around $89,000, while the lowest are around $48,500.

How much does a YouTuber with 1 million subscribers make?

One YouTuber with about 1 million subscribers made between $14,600 and $54,600 per month. However, the money made on YouTube may not be consistent, particularly for creators who don’t upload new content regularly to ensure a growing following.

Do YouTubers get paid monthly?

YouTube uses an algorithm created in AdSense to decide when and how much to pay content creators. AdSense is owned by Google. Vloggers that gain enough traction to warrant earnings are paid monthly via direct deposit.

Photo credit: iStock/Youngoldman

SoFi Relay offers users the ability to connect both SoFi accounts and external accounts using Plaid, Inc.’s service. When you use the service to connect an account, you authorize SoFi to obtain account information from any external accounts as set forth in SoFi’s Terms of Use. Based on your consent SoFi will also automatically provide some financial data received from the credit bureau for your visibility, without the need of you connecting additional accounts. SoFi assumes no responsibility for the timeliness, accuracy, deletion, non-delivery or failure to store any user data, loss of user data, communications, or personalization settings. You shall confirm the accuracy of Plaid data through sources independent of SoFi. The credit score is a VantageScore® based on TransUnion® (the “Processing Agent”) data.

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

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