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If you need a cashier’s check but don’t have a bank account, you will likely have to put some time and effort into getting the form of payment you need. You might open an account ASAP, find a financial institution that will issue a cashier’s check to those who aren’t account holders, or else consider using a money order.

The reason why cashier’s checks can be so restrictive and desirable is that they are a very secure form of payment, issued against a financial institution’s own funds. That is why they are not given out casually.

If you don’t have a bank account but need a cashier’s check, this guide will walk you through your options.

What Is a Cashier’s Check and How Does It Work?

A cashier’s check is a type of check that is issued by a bank from its own account and signed by a representative of the financial institution. Because the funds are guaranteed by the bank as opposed to the check writer, recipients of a cashier’s check can be assured of its security. They can feel confident that it won’t bounce.

(This is assuming, of course, that it’s not a fake or forged document — not even cashier’s checks are immune to fraud, which is why it’s important to verify a check.)

When a consumer buys a cashier’s check, the bank will typically withdraw funds from that person’s checking or savings account and then deposit them into its own account. From there, the bank will write the cashier’s check from its own account.

You may wonder what the difference is between a cashier’s vs. a certified check. With a certified check, the money is withdrawn from an account holder’s check and then certified by the bank. This certification indicates that there are enough funds in the account to cover the check and verifies that the account’s owner’s identity was confirmed by the bank. However, the money is not placed into the bank’s own account as an interim step.

Procedures involving checks, like ordering checks or having a cashier’s check prepared, often involve a fee. For cashier’s checks, this could be a flat fee of $10 or $15 or sometimes a percentage of the check’s amount. The fee may be waived for clients who have premium accounts.

Can You Get a Cashier’s Check Without a Bank Account?

Bank policies can vary, but it can be more challenging to get a cashier’s check without an account. Credit unions may be more willing to offer this service than banks, but it’s important to check with an individual institution to find out whether they’ll offer a cashier’s check without an account.

Keep in mind that you can only get a cashier’s check through a financial institution like a bank or credit union. You cannot purchase one at, say, the post office or Western Union.

If you do find a financial institution that will issue a cashier’s check to non-customers, the rest of the process will be largely the same as it is for customers — except that you will need to pay in cash because the funds can’t be withdrawn from an account.

The steps will likely involve:

•   Providing proper identification

•   Giving the financial institution the cash to deposit into its account

•   Letting the bank employee know the amount of the check you’ll need

•   Supplying the correct spelling of the recipient’s (payee’s) name

•   The bank printing all of the information; this means you can’t make any changes or handwritten corrections

Where to Get a Cashier’s Check Without a Bank Account

As far as where to get a cashier’s check without a bank account, most financial institutions won’t accommodate this request. You will likely have to do a bit of research to find one that does. You might try smaller local banks and credit unions in your area to see if they will accommodate this request.

Here is another work-around:

Opening and Closing an Account

If you know you’ll need to have a cashier’s check in the near future, opening a checking account now can position you for this financial transaction. To do so, you will typically need to provide information confirming your identity and choose which type of account you wish to open. From there, you can fill out an application and make an opening deposit, if required.

Then, once the account is up and running, you can request a cashier’s check. Make sure not to get one too far in advance of when it’s needed, because how long a check is good for is typically six months.

When you’re ready to close the account, be sure to transfer funds and move automatic transactions over to a new one, if that’s your plan, or to find other ways to handle these matters.

Can You Get a Cashier’s Check at Any Bank?

Virtually all financial institutions (traditional and online banks, credit unions) will issue cashier’s checks. The challenge can be that they typically only create these financial instruments for account holders.

If you just walk into or contact a bank where you do not have an account, they may not be willing to issue a cashier’s check for you. That’s true even if you have enough cash on you to cover the amount of the check you’re seeking.

Is There a Maximum Amount for a Cashier’s Check?

There is typically no upper limit for cashier’s checks, though policies may vary from one financial institution to the next.

The fact that there isn’t usually a maximum amount for cashier’s checks makes them particularly useful for larger purchases. For example, when undertaking a real estate transaction or buying a car, a cashier’s check may be a preferred form of payment for both parties involved.

Recommended: APY Calculator

Money Order: An Alternative to a Cashier’s Check

If you’re struggling to get a cashier’s check without a bank account or are simply curious what alternatives there may be, you may consider a money order. A money order is a type of paper check that can’t bounce because it’s been prepaid by the sender. Typically, there’s a limit to the value of these, a maximum of $1,000. One big advantage of money orders is that you don’t need a bank account to get one. This can make it an important option for those who are unbanked.

For instance, you can go to the post office and do the following:

•   Purchase money orders using cash, a traveler’s check, or a debit card (though not a credit card)

•   Pay the face value of the money order, plus a fee of a couple of dollars (for a domestic money order)

•   Fill out the money order to the payee and complete the transaction

Many banks and credit unions also sell money orders for a small fee of a few dollars, which may be waived for certain customers.

Money orders are also available at some retail locations, such as pharmacies, convenience stores, Western Union, Moneygram, and more. While fees may vary from location to location, they are usually no more than a few dollars.

Another Options to a Cashier’s Check

If a money order isn’t the right vehicle for you, there may be another way to move money if you cannot access a cashier’s check. You might be able to use a P2P app to transfer funds, such as PayPal or Venmo. These services can have transaction limits and fees, so do your research first.

The Takeaway

A cashier’s check is a form of payment that must be issued by a financial institution. Typically, funds are taken out of a customer’s savings or checking account and deposited into the bank’s account. Then the check is issued from the bank’s account, which provides a significant amount of security. Some banks or credit unions may allow you to buy a cashier’s check even if you are not a customer, but you may need to call around to determine where this is available. Money orders, meanwhile, can be purchased at the post office, financial institutions, and some retail and convenience stores.

FAQ

Can you get a cashier’s check without a bank account?

Many financial institutions do require a bank account to issue a cashier’s check. You may be able to get one without an account, perhaps through a credit union. It’s likely easier to buy a money order if that form of payment is acceptable to the recipient. This type of check is more widely available, including at the post office, financial institutions, and some retail and convenience stores.

Can I get a cashier’s check somewhere other than a bank?

No. By definition, a cashier’s check comes directly from a bank’s account. You can, however, get a money order from a variety of establishments, including the post office, financial institutions, and some stores.

Can I use a money order instead of a cashier’s check?

That depends upon the recipient. Both forms of payment are considered safer than a personal check, but you’ll need to verify that your payee will accept a money order instead of a cashier’s check if that’s what they requested. Also keep in mind that money orders may only be available in denominations up to $1,000.

Can you get a cashier’s check at the post office?

Only a financial institution can issue a cashier’s check because it comes directly from the bank’s or credit union’s own account. Thus, you cannot get a cashier’s check at the post office. The post office does issue money orders, however, which can be a good alternative if your recipient will accept this form of payment.

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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.

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®

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Financial gurus, your money-savvy friend, and personal finance books and articles all say the same thing: You need a budget. Why? Because without any guardrails to guide your spending decisions, you can end up overspending (and, in turn, running up debt). You may also find it difficult to reach important financial goals, such as building an emergency fund, going on vacation, or buying a home.

The main characteristics of any budget are estimates of how much money you’ll make and how much you’ll spend over a certain period of time, typically a month. Trouble is, it can be hard to predict every expense that may come up in a given month. That can make it hard to know what to include in your budget. But don’t give up — read on. What follows are eight key components of a successful and realistic budget.

The Importance of Budgeting

While a budget may sound restrictive, it’s really nothing more than a plan for how you will spend your money. Why bother making one? Here’s a look at some of the benefits of putting together a basic budget:

•   Lets you know if you’re spending more than, less than, or about the same as you’re earning each month.

•   Gives you a birds-eye view at where exactly your money is going each month.

•   Helps you avoid spending more than you have or want to spend.

•   Alerts you to subscriptions or services you’re paying for but may no longer need.

•   Ensures you stay on top of debt payments.

•   Allows you to make adjustments in your spending and saving so you can align your financial habits to reach your goals.

•   Can prevent you from going into debt should there be an unexpected, emergency expense or if you get laid off

•   Helps you feel more secures and less stressed about money

Key Characteristics That Make a Budget Successful

While there are many ways you can approach managing your money, all budgeting styles share some of the same key elements. Let’s take a look at the main characteristics of a budget that can help you stay on track and boost your overall financial wellbeing.

Emergency Funds

The bedrock of any type of budget is an emergency fund. Without a cash reserve set aside specifically for unplanned expenses or financial emergencies, any bump in the road — say a car repair, trip to the ER, or a loss of income — can force you to run up credit card debt. This can lead to a debt spiral that can take months, potentially years, to recover from.

A general rule of thumb is to keep three to six months’ worth of basic living expenses in a separate savings account earmarked for emergencies. If you’re self-employed or work seasonally, however, you might want to aim for six or 12 months of expenses to feel secure and protected.

Recommended: Where to Keep Emergency Funds

Irregular Expenses

When creating a budget, you likely won’t overlook your recurring monthly expenses, such as rent, utility bills, and food. What’s easy to forget about are your one-off and irregular expenses.

To set up an accurate budget, you’ll want to be sure to jot down any annual or seasonal expenses you anticipate, such as membership dues, holiday gifts, insurance payments, car and registration fees, or kid’s camp expenses. Scanning through your monthly checking account statements for a year should help you suss out your irregular expenses.

To adequately account for these expenses, determine the annual cost, divide by 12, and build that amount into your monthly budget. You may want to transfer that money into a separate account so you can pay those expenses when they’re due.

Recommended: What Are the Average Monthly Expenses for One Person?

Repaying Debt

For a budget to be successful, you want to make sure you’re accounting for debt repayment, including minimum monthly payments and (if you’re carrying high-interest debt) additional payments. The 50/30/20 budgeting rule, for example, recommends putting 50% of your money take-home income toward needs (including minimum debt payments), 30% toward wants, and 20% toward savings and debt repayment beyond the minimum.

Once you’ve paid off your balances, the money you were spending on debt/interest each month can now go towards other goals, such as a vacation, large-ticket purchase, or down payment on a house.

Recommended: See how your money is categorized using the 50/30/20 Budget Calculator.

Monthly Savings

Even if you tend to live paycheck to paycheck, a key element of a budget is putting at least something into savings each month. For example, with the “pay yourself first” approach to budgeting, you set up a recurring transfer from your checking account into your savings account on the same day each month, ideally right after you get paid.

Once you’ve fully funded your emergency saving account, you can funnel this extra money into a high-yield savings account to work towards your short-term savings goals.

And it’s fine to start small. If you save $20 a week, in a year you’ll have accumulated $1,040. If you commit to the 52-week savings challenge, where you save $1 the first week, $2 the second week, and so forth for an entire year, you’ll have stashed away $1,378 by week 52.

💡 Quick Tip: Most savings accounts only earn a fraction of a percentage in interest. Not at SoFi. Our high-yield savings account can help you make meaningful progress towards your financial goals.

Accurate Monthly Income

Without knowing exactly how much money hits your bank account each month, you won’t be able to allocate your funds accordingly and create an accurate budget. Besides your paycheck, you’ll want to factor in any other income streams, such as freelance work, government benefits, alimony, or child support.

If you’re self-employed and your income varies from month to month, determining your monthly income can be a bit trickier. One solution is to use your lowest monthly income over the past year as your baseline income (minus any taxes you will owe). This gives you a margin of safety, since you will likely make more than that.

Money for Vacations and Free Time

While it’s important to save for an emergency fund and pay off your debt, a key component of budgeting is money for fun and leisure. Without it, you likely won’t stick to your budget at all.

Think about what activities bring you the most joy and offer the most value in your life. What hobbies would you like to invest more time, energy, and resources in? Where would you like to vacation next? From there, you can set some “fun” savings goals. Consider how much you will need and when you want to reach your goal to determine how much to set aside for fun each month.

Recommended: 15 Creative Ways to Save Money

Retirement

Retirement might seem far off but failing to start saving early can put you in a tough predicament later on. Thanks to compound interest — the interest earned on your initial savings and the reinvested earnings — it’s much easier to amass a comfortable nest egg when you start early. Even if you’re still paying off your student loans, retirement is an important element of a budget that can make a huge difference in your future.

If you work for a traditional employer, you likely have a company 401(k) you are eligible to participate in. If your employer offers a company match, it’s wise to contribute at least up to match — otherwise you’re leaving free money on the table.

Realistic Goals

While many people don’t write down specific goals when creating a budget, this is actually an important element of budgeting. By setting realistic goals, such as building an emergency fund, saving for a downpayment on a car or a home, getting out of debt, or saving for retirement, you can begin to find ways to save for those goals and track your progress towards achieving them.

Having specific and realistic money goals can give you the motivation to take control of your spending. It also gives all the money that comes into your account a purpose.

Keep in mind, though, that goals and budgets are ever-evolving. When changes arise in your situation, you can tweak your goals accordingly. For instance, maybe you suffered a financial setback. In that case, you might want to put your foot off the pedal on aggressively paying off debt, and focus on replenishing your emergency fund.

Tips on Starting a Budget

If the idea of creating a budget feels overwhelming, here are some stimple steps that help jump start the process.

•   Determine your after-tax income. If you get a regular paycheck, the amount you receive is probably just that, but if you have automatic deductions, such as 401(k) contributions or health and life insurance, you’ll want to add those back in to give yourself an accurate picture of your earnings.

•   Tally your monthly expenses. You can scan your bank and credit card statements for the past three to six months to get an idea of what you typically spend each month and on what. You can then make a list of spending categories, how much (on average) you spend on each per month, and then break down those expenses into two main categories: “needs” and “wants.”

•   Make adjustments. If your average monthly income is less than your average monthly spending (meaning you are going backwards) or is about the same (meaning you aren’t saving anything), you’ll want to look for places to cut back. You likely find it easier to cut back spending in your “wants” categories, such as cooking a few more times a week (and getting take-out less often) or cutting the cord on cable and opting for cheaper streaming services.

•   Choose a budgeting plan. Once you’ve done the basics, you can take it a step further by selecting a budgeting plan. Any budget must cover all of your needs, some of your wants and — this is key — savings for emergencies and the future. The 50/30/20 budget (mentioned above) often works well for beginners. But there are many different types of budget — including the envelope system and zero-based budget. You might choose a budgeting app, such as YNAB or Goodbudget, to automate the process.

Banking With SoFi

Knowing exactly what elements go into a successful budget can help you create a spending plan that’s in step with your goals and help you do a lot more with the money you have.

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.

Better banking is here with SoFi, NerdWallet’s 2024 winner for Best Checking Account Overall.* Enjoy 3.30% APY on SoFi Checking and Savings with eligible direct deposit.

FAQ

How do I stick to a budget?

The best way to stick to a budget is to never spend more than you have. Running up high-interest debt can be a vicious cycle that is tough to get out of. You also end up spending a lot more on your purchases than if you have held off and saved up.

If you can’t afford something you want right now, it’s generally a good idea to put it off until you can. If you want to go on vacation or buy new furniture, for example, plan for it and save regularly so it doesn’t throw off your budget.

What is the best budgeting method?

The best budgeting method is the one you’re most likely to stick with. If you prefer to not worry so much about where you’re spending each dollar, you might prefer the 50/30/20 budget. If you like to get granular with your spending, then a zero-sum budget might be a good choice.

What are the benefits of budgeting?

Budgeting is a tool that helps ensure you’re spending your money in a way that aligns with your priorities. If you simply spend here and there without any type of plan, you can end up spending on things you don’t care all that much about, and never saving up enough for the things that you do — such as buying a car, going on vacation, or putting a downpayment on home.

Budgeting also helps ensure you can pay all your bills, have a cushion for the unexpected, and avoid running up expensive debt.

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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.
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.

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.

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.

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If you’re looking for a career that makes a lot of money, you might want to start your search in the health and medical field. Health-care jobs are the highest-paying jobs in America, and overall employment in this sector is expected to grow much faster than the average for all occupations through 2034, according to the U.S. Bureau of Labor Statistics (BLS).

Outside of health care, professional athletes and airline pilots are among the highest-paid professions. Three other fields that also made the top 25: chief executive officers (CEOs), computer/information systems managers, and financial managers.

Read on for a snapshot of the highest-paying jobs across the U.S., followed by a listing of the best-paying careers by state.

Top 25 Highest Paying Jobs in America

To compile this list of highest-paying jobs, we reviewed data from BLS’s most recent Occupational Employment and Wage Statistics report (May 2024). We also used government data to cite the minimum education requirements, projected growth, and which industries provide employment for each occupation. For more job description details, we tapped the Occupational Information Network (O*NET).

Here’s a look at the highest-paying jobs in America, ranked from highest average salary to lowest.

1. Pediatric Surgeon

Pediatric surgeons diagnose and perform surgery to treat fetal abnormalities and birth defects, diseases, and injuries in fetuses, premature and newborn infants, children, and adolescents.

Average Salary

$450,810

Typical Entry-Level Education

Doctoral or professional degree

Primary Duties

•  Analyze patient’s medical history, physical condition, and examination results to verify operation’s necessity and to determine best procedure.

•  Conduct research to develop and test surgical techniques that can improve operating procedures and outcomes.

•  Consult with a patient’s other medical care specialists to determine if surgery is necessary.

•  Describe preoperative and postoperative treatments and procedures to parents or guardians of the patient.

•  Direct and coordinate activities of nurses, assistants, specialists, residents, and other medical staff.

Projected growth (2024-2034)

3% (as fast as average)

Top Industries

•  Hospitals

•  Offices of physicians

2. Cardiologist

Cardiologists diagnose, treat, manage, and prevent diseases or conditions of the cardiovascular system. They may further subspecialize in interventional procedures (e.g., balloon angioplasty and stent placement), echocardiography, or electrophysiology.

Average Salary

$432,490

Typical Entry-Level Education

Doctoral or professional degree

Primary Duties

•  Administer emergency cardiac care for life-threatening heart problems.

•  Advise patients about diet, activity, and disease prevention.

•  Calculate valve areas from blood flow velocity measurements.

•  Compare measurements of heart wall thickness and chamber sizes to standards to identify abnormalities using echocardiogram results.

Projected growth (2024-2034)

3% (as fast as average)

Top Industries

•  Offices of physicians

•  Hospitals

•  Outpatient care centers

3. Surgeons

Surgeons operate on patients to treat injuries, such as broken bones; diseases, such as cancerous tumors; and deformities.

Average Salary

$371,280

Typical Entry-Level Education

Doctoral or professional degree

Primary Duties

Varies with specialty

Projected growth (2024-2034)

3% (as fast as average)

Top Industries

•  Offices of physicians

•  Hospitals

•  Outpatient care centers

•  Colleges, universities, and professional schools

4. Orthopedic Surgeon

Orthopedic surgeons diagnose and perform surgery to treat and prevent rheumatic and other diseases in the musculoskeletal system.

Average Salary

$365,060

Typical Entry-Level Education

Doctoral or professional degree

Primary Duties

•  Analyze patient’s medical history, physical condition, and examination results to verify operation’s necessity and to determine best procedure.

•  Conduct research to develop and test surgical techniques that can improve operating procedures and outcomes related to musculoskeletal injuries and diseases.

•  Direct and coordinate activities of nurses, assistants, specialists, residents, and other medical staff.

Projected growth (2024-2034)

3% (as fast as average)

Top Industries

•  Offices of physicians

•  Hospitals

•  Outpatient care Centers

•  Colleges, universities, and professional schools

5. Radiologists

Radiologists diagnose and treat diseases and injuries using medical imaging techniques, such as x rays, magnetic resonance imaging (MRI), nuclear medicine, and ultrasounds. They may also perform minimally invasive medical procedures and tests.

Average Salary

$359,820

Typical Entry-Level Education

Doctoral or professional degree

Primary Duties

•  Perform or interpret the outcomes of diagnostic imaging procedures including magnetic resonance imaging (MRI), computer tomography (CT), positron emission tomography (PET), nuclear cardiology treadmill studies, mammography, or ultrasound.

•  Prepare comprehensive interpretive reports of findings.

•  Communicate examination results or diagnostic information to referring physicians, patients, or families.

•  Obtain patients’ histories from electronic records, patient interviews, dictated reports, or by communicating with referring clinicians.

Projected growth (2024-2034)

3% (as fast as average)

Top Industries

•  Offices of physicians

•  Hospitals

•  Medical and diagnostic laboratories

•  Outpatient care centers

•  Colleges, universities, and professional schools

6. Dermatologists

Dermatologists diagnose and treat diseases relating to the skin, hair, and nails. They may perform both medical and dermatological surgery functions.

Average Salary

$347,810

Typical Entry-Level Education

Doctoral or professional degree

Primary Duties

•  Conduct complete skin examinations.

•  Diagnose and treat pigmented lesions, such as common acquired nevi, congenital nevi, dysplastic nevi, Spitz nevi, blue nevi, or melanoma.

•  Perform incisional biopsies to diagnose melanoma.

•  Perform skin surgery to improve appearance, make early diagnoses, or control diseases such as skin cancer.

•  Counsel patients on topics such as the need for annual dermatologic screenings, sun protection, skin cancer awareness, or skin and lymph node self-examinations.

Projected growth (2024-2034)

3% (as fast as average)

Top Industries

•  Offices of physicians

•  Outpatient care centers

•  Offices of other health practitioners

•  Medical and diagnostic laboratories

•  Personal care services

7. Anesthesiologist

Anesthesiologists administer anesthetics and analgesics for pain management prior to, during, or after surgery.

Average Salary

$336,640

Typical Entry-Level Education

Doctoral or professional degree

Primary Duties

•  Examine patients, obtain medical history, and use diagnostic tests to determine risk during surgical, obstetrical, and other medical procedures.

•  Administer anesthetic or sedation during medical procedures, using local, intravenous, spinal, or caudal methods.

•  Monitor patients before, during, and after anesthesia and counteract adverse reactions or complications.

•  Record type and amount of anesthesia and patient condition throughout procedures.

•  Provide and maintain life support and airway management and help prepare patients for emergency surgery.

Projected growth (2024-2034)

3% (as fast as average)

Top Industries

•  Offices of physicians

•  Hospitals

•  Outpatient care centers

•  Colleges, universities, and professional schools

•  Offices of other health practitioners

8. Oral and Maxillofacial Surgeons

Oral and maxillofacial surgeons perform surgery and related procedures on the hard and soft tissues of the oral and maxillofacial regions to treat diseases, injuries, or defects. They also diagnose problems of the oral and maxillofacial regions, and may perform surgery to improve function or appearance.

Average Salary

$334,310

Typical Entry-Level Education

Doctoral or professional degree

Primary Duties

•  Administer general and local anesthetics.

•  Collaborate with other professionals, such as restorative dentists and orthodontists, to plan treatment.

•  Evaluate the position of the wisdom teeth to determine whether problems exist currently or might occur in the future.

•  Perform surgery to prepare the mouth for dental implants and to aid in the regeneration of deficient bone and gum tissues.

•  Remove impacted, damaged, and non-restorable teeth.

Projected growth (2024-2034)

5% to 8% (faster than average)

Top Industries

•  Offices of dentists

•  General medical and surgical hospitals

•  Outpatient care centers

•  Offices of physicians

9. Athletes and Sports Competitors

Athletes and sports competitors compete in athletic events.

Average Salary

$328,830

Typical Entry-Level Education

No formal educational credential

Primary Duties

•  Participate in athletic events or competitive sports, according to established rules and regulations.

•  Assess performance following athletic competition, identifying strengths and weaknesses and making adjustments to improve future performance.

•  Attend scheduled practice or training sessions.

•  Maintain optimum physical fitness levels by training regularly, following nutrition plans, or consulting with health professionals.

Projected growth (2024-2034)

5% (faster than average)

Top Industries

•  Spectator sports

•  Other amusement and recreation industries

•  Promoters of performing arts, sports, and similar events

•  Colleges, universities, and professional schools

10. Emergency Medicine Physicians

Emergency medicine physicians make immediate medical decisions and act to prevent death or further disability. They provide immediate recognition, evaluation, care, stabilization, and disposition of patients. They may also direct emergency medical staff in an emergency department.

Average Salary

$320,700

Typical Entry-Level Education

Doctoral or professional degree

Primary Duties

•  Analyze records, examination information, or test results to diagnose medical conditions.

•  Assess patients’ pain levels or sedation requirements.

•  Collect and record patient information, such as medical history or examination results, in electronic or handwritten medical records.

•  Communicate likely outcomes of medical diseases or traumatic conditions to patients or their representatives.

•  Conduct primary patient assessments that include information from prior medical care.

Projected growth (2024-2034)

3% (as fast as average)

Top Industries

•  Offices of physicians

•  General medical and surgical hospitals

•  Outpatient care centers

•  Colleges, universities, and professional schools

11. Ophthalmologists

Ophthalmologists diagnose and perform surgery to treat and help prevent disorders and diseases of the eye. They may also provide vision services for treatment including glasses and contacts.

Average Salary

$301,500

Typical Entry-Level Education

Doctoral or professional degree

Primary Duties

•  Perform comprehensive examinations of the visual system to determine the nature or extent of ocular disorders.

•  Diagnose or treat injuries, disorders, or diseases of the eye and eye structures including the cornea, sclera, conjunctiva, or eyelids.

•  Provide or direct the provision of postoperative care.

•  Develop or implement plans and procedures for ophthalmologic services.

•  Prescribe or administer topical or systemic medications to treat ophthalmic conditions and to manage pain.

Projected growth (2024-2034)

2% to 4% (as fast as average)

Top Industries

•  Offices of physicians

•  Offices of other health practitioners

•  Outpatient care centers

•  Colleges, universities, and professional schools

12. Neurologists

Neurologists diagnose, manage, and treat disorders and diseases of the brain, spinal cord, and peripheral nerves, with a primarily nonsurgical focus.

Average Salary

$286,310

Typical Entry-Level Education

Doctoral or professional degree

Primary Duties

•  Interview patients to obtain information, such as complaints, symptoms, medical histories, and family histories.

•  Examine patients to obtain information about functional status of areas, such as vision, physical strength, coordination, reflexes, sensations, language skills, cognitive abilities, and mental status.

•  Perform or interpret the outcomes of procedures or diagnostic tests, such as lumbar punctures, electroencephalography, electromyography, and nerve conduction velocity tests.

•  Order or interpret results of laboratory analyses of patients’ blood or cerebrospinal fluid.

•  Diagnose neurological conditions based on interpretation of examination findings, histories, or test results.

Projected growth (2024-2034)

3% (as fast as average)

Top Industries

•  Offices of physicians

•  Hospitals

•  Outpatient care centers

•  Colleges, universities, and professional schools

13. Obstetricians and Gynecologists

Obstetricians and gynecologists provide medical care related to pregnancy or childbirth. They diagnose, treat, and help prevent diseases of women, particularly those affecting the reproductive system. They may also provide general care to women, and perform both medical and gynecological surgery functions.

Average Salary

$281,130

Typical Entry-Level Education

Doctoral or professional degree

Primary Duties

•  Treat diseases of female organs.

•  Care for and treat women during prenatal, natal, and postnatal periods.

•  Analyze records, reports, test results, or examination information to diagnose medical condition of patients.

•  Perform cesarean sections or other surgical procedures as needed to preserve patients’ health and deliver babies safely.

•  Collect, record, and maintain patient information, such as medical histories, reports, or examination results.

Projected growth (2024-2034)

3% (as fast as average)

Top Industries

•  Offices of physicians

•  Hospitals

•  Outpatient care centers

•  Colleges, universities, and professional schools

14. Psychiatrists

Psychiatrists diagnose, treat, and help prevent mental disorders.

Average Salary

$269,120

Typical Entry-Level Education

Doctoral or professional degree

Primary Duties

•  Prescribe, direct, or administer psychotherapeutic treatments or medications to treat mental, emotional, or behavioral disorders.

•  Gather and maintain patient information and records, including social or medical history obtained from patients, relatives, or other professionals.

•  Design individualized care plans, using a variety of treatments.

•  Collaborate with physicians, psychologists, social workers, psychiatric nurses, or other professionals to discuss treatment plans and progress.

•  Analyze and evaluate patient data or test findings to diagnose nature or extent of mental disorder.

Projected growth (2024-2034)

7% (faster than average)

Top Industries

•  Offices of physicians

•  Hospitals

•  Outpatient care centers

•  State government

15. Pathologists

Pathologists diagnose diseases and conduct lab tests using organs, body tissues, and fluids. Includes medical examiners.

Average Salary

$266,020

Typical Entry-Level Education

Doctoral or professional degree

Primary Duties

•  Examine microscopic samples to identify diseases or other abnormalities.

•  Diagnose diseases or study medical conditions, using techniques such as gross pathology, histology, cytology, cytopathology, clinical chemistry, immunology, flow cytometry, or molecular biology.

•  Write pathology reports summarizing analyses, results, and conclusions.

•  Communicate pathologic findings to surgeons or other physicians.

•  Identify the etiology, pathogenesis, morphological change, and clinical significance of diseases.

Projected growth (2024-2034)

5% to 8% (faster than average)

Top Industries

•  Offices of physicians

•  Medical and diagnostic laboratories

•  Colleges, universities, and professional schools

•  Local government, excluding schools and hospitals

•  Scientific research and development services

16. General Internal Medicine Physicians

General internal medicine physicians diagnose and provide nonsurgical treatment for a wide range of diseases and injuries of internal organ systems. They provide care mainly for adults and adolescents, and are based primarily in an outpatient care setting.

Average Salary

$262,710

Typical Entry-Level Education

Doctoral or professional degree

Primary Duties

•  Treat internal disorders, such as hypertension, heart disease, diabetes, or problems of the lung, brain, kidney, or gastrointestinal tract.

•  Analyze records, reports, test results, or examination information to diagnose medical condition of patients.

•  Prescribe or administer medication, therapy, and other specialized medical care to treat or prevent illness, disease, or injury.

•  Manage and treat common health problems, such as infections, influenza or pneumonia, as well as serious, chronic, and complex illnesses, in adolescents, adults, and the elderly.

•  Provide and manage long-term, comprehensive medical care, including diagnosis and nonsurgical treatment of diseases, for adult patients in an office or hospital.

Projected growth (2024-2034)

2% to 4% (average)

Top Industries

•  Offices of physicians

•  Hospitals

•  Colleges, universities, and professional schools

•  Outpatient care centers

17. Family Medicine Physicians

Family medicine physicians diagnose, treat, and provide preventive care to individuals and families across the lifespan. They may refer patients to specialists when needed for further diagnosis or treatment.

Average Salary

$256,830

Typical Entry-Level Education

Doctoral or professional degree

Primary Duties

•  Prescribe or administer treatment, therapy, medication, vaccination, and other specialized medical care to treat or prevent illness, disease, or injury.

•  Order, perform, and interpret tests and analyze records, reports, and examination information to diagnose patients’ condition.

•  Collect, record, and maintain patient information, such as medical history, reports, or examination results.

•  Monitor patients’ conditions and progress and reevaluate treatments as necessary.

•  Explain procedures and discuss test results or prescribed treatments with patients.

Projected growth (2024-2034)

2% to 4% (average)

Top Industries

•  Offices of physicians

•  Hospitals

•  Outpatient care centers

•  Colleges, universities, and professional schools

18. Orthodontists

Orthodontists examine, diagnose, and treat dental malocclusions and oral cavity anomalies. They design and fabricate appliances to realign teeth and jaws to produce and maintain normal function and to improve appearance.

Average Salary

$243,620

Typical Entry-Level Education

Doctoral or professional degree

Primary Duties

•  Examine patients to assess abnormalities of jaw development, tooth position, and other dental-facial structures.

•  Study diagnostic records, such as medical or dental histories, plaster models of the teeth, photos of a patient’s face and teeth, and X-rays, to develop patient treatment plans.

•  Fit dental appliances in patients’ mouths to alter the position and relationship of teeth and jaws or to realign teeth.

•  Adjust dental appliances to produce and maintain normal function.

Projected growth (2024-2034)

4% (as fast as average)

Top Industries

•  Offices of dentists

•  Hospitals

19. Airline Pilots, Copilots, and Flight Engineers

Airline pilots, copilots, and flight engineers pilot and navigate the flight of fixed-wing aircraft, usually on scheduled air carrier routes, for the transport of passengers and cargo. This job requires a Federal Air Transport certificate and rating for the specific aircraft type used.

Average Salary

$226,600

Typical Entry-Level Education

Bachelor’s degree

Primary Duties

•  Start engines, operate controls, and pilot airplanes to transport passengers, mail, or freight, adhering to flight plans, regulations, and procedures.

•  Work as part of a flight team with other crew members, especially during takeoffs and landings.

•  Respond to and report in-flight emergencies and malfunctions.

•  Inspect aircraft for defects and malfunctions, according to pre-flight checklists.

Projected growth (2024-2034)

4% (as fast as average)

Top Industries

•  Scheduled air transportation

•  Couriers and express delivery services

•  Federal executive branch

•  Support activities for air transportation

•  Management of companies and enterprises

20. Pediatricians

Pediatricians diagnose, treat, and help prevent diseases and injuries in children. They also refer patients to specialists for further diagnosis or treatment, as needed.

Average Salary

$222,340

Typical Entry-Level Education

Doctoral or professional degree

Primary Duties

•  Prescribe or administer treatment, therapy, medication, vaccination, and other specialized medical care to treat or prevent illness, disease, or injury in infants and children.

•  Examine children regularly to assess their growth and development.

•  Treat children who have minor illnesses, acute and chronic health problems, and growth and development concerns.

•  Examine patients or order, perform, and interpret diagnostic tests to obtain information on medical conditions and determine diagnosis.

Projected growth (2024-2034)

3% to 4% (as fast as average)

Top Industries

•  Offices of physicians

•  Hospitals

•  Outpatient care centers

•  Colleges, universities, and professional Schools

21. Nurse Anesthetists

Nurse anesthetists administer anesthesia, monitor patient’s vital signs, and oversee patient recovery from anesthesia. They assist anesthesiologists, surgeons, other physicians, or dentists. They must be registered nurses who have specialized graduate education.

Average Salary

$214,200

Typical Entry-Level Education

Master’s degree

Primary Duties

•  Manage patients’ airway or pulmonary status, using techniques such as endotracheal intubation, mechanical ventilation, pharmacological support, respiratory therapy, and extubation.

•  Respond to emergency situations by providing airway management, administering emergency fluids or drugs, or using basic or advanced cardiac life support techniques.

•  Monitor patients’ responses, including skin color, pupil dilation, pulse, heart rate, blood pressure, respiration, ventilation, or urine output, using invasive and noninvasive techniques.

•  Select, order, or administer anesthetics, adjuvant drugs, accessory drugs, fluids or blood products as necessary.

•  Select, prepare, or use equipment, monitors, supplies, or drugs for the administration of anesthetics.

Projected growth (2024-2034)

35% (much faster than average)

Top Industries

•  Offices of physicians

•  Hospitals

•  Outpatient care centers

•  Offices of other health practitioners

•  Colleges, universities, and professional schools

22. Chief Executives

Chief executives determine and formulate policies and provide overall direction of companies or private and public sector organizations within guidelines set up by a board of directors or similar governing body. They plan, direct, or coordinate operational activities at the highest level of management with the help of subordinate executives and staff managers.

Average Salary

$206,420

Typical Entry-Level Education

Bachelor’s degree

Primary Duties

•  Direct or coordinate an organization’s financial or budget activities to fund operations, maximize investments, or increase efficiency.

•  Confer with board members, organization officials, or staff members to discuss issues, coordinate activities, or resolve problems.

•  Direct, plan, or implement policies, objectives, or activities of organizations or businesses to ensure continuing operations, to maximize returns on investments, or to increase productivity.

•  Prepare or present reports concerning activities, expenses, budgets, government statutes or rulings, or other items affecting businesses or program services.

Projected growth (2024-2034)

4% (as fast as average)

Top Industries

•  Local and state government

•  Management of companies and enterprises

•  Elementary and secondary schools

•  Computer systems design and related services

23. Dentists

Dentists examine, diagnose, and treat diseases, injuries, and malformations of teeth and gums. They treat diseases of nerve, pulp, and other dental tissues affecting oral hygiene and retention of teeth. They may also fit dental appliances or provide preventive care.

Average Salary

$179,210

Typical Entry-Level Education

Doctoral or professional degree

Primary Duties

•  Examine teeth, gums, and related tissues, using dental instruments, x-rays, or other diagnostic equipment, to evaluate dental health, diagnose diseases or abnormalities, and plan appropriate treatments.

•  Administer anesthetics to limit the amount of pain experienced by patients during procedures.

•  Use dental air turbines, hand instruments, dental appliances, or surgical implements.

•  Formulate plan of treatment for patient’s teeth and mouth tissue.

Projected growth (2024-2034)

4% (as fast as average)

Top Industries

•  Offices of dentists

•  Hospitals

•  Outpatient care centers

•  General medical and surgical hospitals

24. Computer and Information Systems Managers

Computer and information systems managers plan, direct, or coordinate activities in such fields as electronic data processing, information systems, systems analysis, and computer programming

Average Salary

$171,200

Typical Entry-Level Education

Bachelor’s degree

Primary Duties

•  Direct daily operations of department, analyzing workflow, establishing priorities, developing standards and setting deadlines.

•  Meet with department heads, managers, supervisors, vendors, and others, to solicit cooperation and resolve problems.

•  Review project plans to plan and coordinate project activity.

•  Assign and review the work of systems analysts, programmers, and other computer-related workers.

•  Provide users with technical support for computer problems.

Projected growth (2024-2034)

15% (much faster than average)

Top Industries

•  Computer systems design and related services

•  Management of companies and enterprises

•  Software publishers

•  Management, scientific, and technical consulting services

•  Computing infrastructure providers, data processing, web hosting, and related services

25. Financial Managers

Financial managers plan, direct, or coordinate accounting, investing, banking, insurance, securities, and other financial activities of a branch, office, or department of an establishment.

Average Salary

$161,700

Typical Entry-Level Education

Bachelor’s degree

Primary Duties

•  Establish and maintain relationships with individual or business customers or provide assistance with problems these customers may encounter.

•  Oversee the flow of cash or financial instruments.

•  Plan, direct, or coordinate the activities of workers in branches, offices, or departments of establishments, such as branch banks, brokerage firms, risk and insurance departments, or credit departments.

•  Recruit staff members.

•  Evaluate data pertaining to costs to plan budgets.

Projected growth (2024-2034)

15% (much faster than average)

Top Industries

•  Credit intermediation and related activities

•  Management of companies and enterprises

•  Securities, commodity contracts, and other financial investments and related activities

•  Accounting, tax preparation, bookkeeping, and payroll services

•  Insurance carriers

💡 Quick Tip: Help your money earn more money! Opening a bank account online often gets you higher-than-average rates.

What Are The Highest Paying Jobs Without a Degree?

Jobs that make a lot of money don’t always require a college education. These are five top high-paying jobs that don’t require a degree.

•   Commercial Pilot: The average annual salary of a commercial pilot is $122,670, and the projected job growth is 4% (as fast as average), according to the BLS. Commercial pilots typically need flight training and they must meet federal regulations regarding certifications and ratings.

•   Elevator and Escalator Installer and Repairer: The annual average salary for this position is $106,580, and the job is expected to grow faster than average between 2024 and 2034, BLS data shows. Most elevator and escalator installers and repairers learn the job through an apprenticeship, and most states require them to be licensed.

•   Transportation, Storage and Distribution Manager: The average annual salary for this job is 102,010, and the job is growing faster than average (6%) from 2024 to 2034, according to BLS. Those interested in this field typically need work-related experience, such as warehousing.

•   Aircraft and Avionics Equipment Mechanic and Technician: The average annual pay for these trade jobs ranges from $78,680 for aircraft mechanics and service technicians to $81,390 for avionics technicians. The field is expected to grow 5% (faster than average) between 2024 and 2034, BLS data finds. A certificate from a program approved by the Federal Aviation Administration may be required, though it’s possible to train on the job or in the military.

•   Police and Detective:

The average annual salary for these jobs is $77,270, and the projected job growth is about 3%, or as fast as average, according to the BLS. Most police officers and detectives must graduate from their agency’s training academy.

Recommended: Common Signs That You Need to Make More Money

How to Choose a Job Based on Your Personality

Finding a job that not only pays well so you’ll have plenty of money in your checking and savings account, and is an enjoyable position that will help you grow and thrive, is the ultimate goal for job seekers. One way to do it is to assess your personality to see what jobs might be the best fit for you.

To choose a job based on your personality, first consider your interests, values, and strengths. What are you good at? What kinds of things do you like to do? What types of tasks give you a sense of purpose? Think about things you’ve done in the past that made you feel fulfilled, confident, and energized.

Next, take an online career assessment test. These tests can help you identify your core strengths and find career paths that align with those traits. For example, are you creative or more of the analytical type? The answer to that question could help direct you into a field like public relations or marketing if you’re creative, or computers of finance if you’re analytical.

Are you social and enjoy working as part of a team? If so, you might look into the best jobs for extroverts so that you can make the most of your traits and skills.

On the other hand, if you prefer a more self-directed role where you can work independently and focus closely on the task at hand, you can explore the best jobs for introverts.

Finally, research different career options that match your personality traits and choose the ones that are most appealing and strike you as rewarding jobs. Is there anyone in your network who works in one of those fields? If so, get their contact information and reach out to see if you can set up an informational interview with them. Ask lots of questions about what the job is like day-to-day. Can you see it being a good long-term fit for you? If so, go ahead and start your job search!

💡 Quick Tip: Most savings accounts only earn a fraction of a percentage in interest. Not at SoFi. Our high-yield savings account can help you make meaningful progress towards your financial goals.

What are the Highest Paying Jobs in Each State?

The best-paying careers and occupations in the U.S. vary by location. Here’s a look at the best-paid jobs by state based on the BLS’s State Occupational Employment and Wage Estimates for 2024. This listing goes in alphabetical order and includes all 50 states.

Alabama

Career: Cardiologist

Average Salary: $443,520

Alaska

Career: Surgeon

Average Salary: $407,300

Arizona

Career: Pediatric Surgeon

Average Salary: $533,740

Arkansas

Career: Orthopedic Surgeon

Average Salary: $346,680

California

Career: Anesthesiologists

Average Salary: $452,930

Learn more: 20 Highest-Paying Jobs in California

Colorado

Career: Neurologists

Average Salary: $409,690

Connecticut

Career: Cardiologists

Average Salary:$381,730

Delaware

Career: Obstetricians and Gynecologists

Average Salary: $309,490

District of Columbia

Career: Radiologists

Average Salary: $353,800

Florida

Career: Cardiologist

Average Salary: 494,690

Georgia

Career: Surgeons

Average Salary: $446,490

Hawaii

Career: Opthamologists

Average Salary:$343,320

Idaho

Career: Dermatologists

Average Salary: $525,040

Illinois

Career: Opthamologists

Average Salary: $375,370

Indiana

Career: Surgeons

Average Salary: $429,250

Iowa

Career: Opthamologists

Average Salary: $430,910

Kansas

Career: Surgeons

Average Salary: $365,230

Kentucky

Career: Pathologists

Average Salary: $376,940

Louisiana

Career: Cardiologists

Average Salary: $422,290

Maine

Career: Opthamologists

Average Salary: $355,640

Maryland

Career: Emergency Medicine Physicians

Average Salary: $358,680

Massachusetts

Career: Radiologists

Average Salary: $369,490

Michigan

Career: Orthopedic Surgeons

Average Salary: $426,300

Minnesota

Career: Dermatologists

Average Salary: $581,560

Mississippi

Career: Cardiologists

Average Salary: $418,290

Missouri

Career: Radiologists

Average Salary: $363,870

Montana

Career: Surgeons

Average Salary: $415,030

Nebraska

Career: Anesthesiologists

Average Salary: $455,850

Nevada

Career: Emergency Medicine Physicians

Average Salary: $361,510

New Hampshire

Career: Radiologists

Average Salary: $388,410

New Jersey

Career: Chief Executives

Average Salary: $449,370

New Mexico

Career: Neurologists

Average Salary: $383,340

New York

Career: Cardiologists

Average Salary: $402,840

North Carolina

Career: Cardiologists

Average Salary: $450,610

North Dakota

Career: Physicians

Average Salary: $351,270

Ohio

Career: Cardiologists

Average Salary: $500,440

Oklahoma

Career: Pathologists

Average Salary: $296,030

Oregon

Career: Dermatologists

Average Salary: $481,330

Pennsylvania

Career: Cardiologists

Average Salary: $408,950

Rhode Island

Career: Surgeons

Average Salary: $379,330

South Carolina

Career: Orthopedic Surgeons

Average Salary: $398,350

South Dakota

Career: Radiologists

Average Salary: $475,780

Tennessee

Career: Cardiologists

Average Salary: $472,670

Texas

Career: Radiologists

Average Salary: $327,850

Utah

Career: Surgeons

Average Salary: $515,130

Vermont

Career: Orthopedic Surgeon

Average Salary: $449,240

Virginia

Career: Cardiologists

Average Salary: $399,570

Washington State

Career: Orthopedic Surgeons

Average Salary: $396,590

West Virginia

Career: Surgeons

Average Salary: $344,770

Wisconsin

Career: Orthopedic Surgeons

Average Salary: $534,270

Wyoming

Career: Cardiologists

Average Salary: $498,630

The Takeaway

Whether you look at the highest-paying fields nationally or by state, health-care professions dominate the list. However, a few other careers also show up in the highest-paid job rankings, including professional athletes, chief executives, airline pilots, and computer/information systems managers. Plus, there are many jobs that don’t require a degree that also pay well — proving that it’s possible to find a job that fits your skills, core personality traits, and interests and also lets you earn a good income.

Whatever field you choose to go into, choosing the right bank account for your hard-earned cash can help you make the most of your money.

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FAQ

What job makes $500,000 a year?

Jobs that make $500,000 a year or more tend to be specialized medical professions, such as surgeons, dermatologists, and anesthesiologists. For example, in some states in the U.S., pediatric surgeons and dermatologists earn more than $500,000 a year.

What is the highest paying job in the world?

There is no one single highest-paying job in the world. However, the highest paying jobs across the globe include neurosurgeons, who can earn an average of $500,000 to $800,000 a year, chief executive officers, who can earn an average of $350,000 to $1.5 million, and Artificial Intelligence (AI) and Machine Learning (ML) Engineers, who can earn an average of $180,000 to $350,000.

What are the best paying careers in the medical field?

The best-paying careers in the medical field are typically surgical specialties, such as neurosurgeons and orthopedic surgeons who can earn more than $600,00 a year, and other medical specialists like cardiologists, anesthesiologists, and radiologists, who can earn around $500,000 a year or more.

What are some high-paying jobs that are in high demand?

High-paying jobs that are in high demand include those in the healthcare field like doctors and nurses; technology jobs, such as data scientists and information security analysts; and skilled trades like elevator and escalator installers and repairs, and transportation, storage, and distribution managers. Workers in all these jobs typically earn more than $100,000 a year.

Do you need an advanced degree to get a high-paying job?

No, you don’t need an advanced degree — or in some cases, even a Bachelor’s degree — to get a high-paying job. Commercial pilots, elevator and escalator installers and repairers, and transportation, storage, and distribution managers all make more than $100,000 without a college degree. Other high-paying jobs, such as software developers, computer hardware engineers, and human resource managers, typically don’t require an advanced degree.

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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.
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Paying off debt vs. saving money is a tough financial choice. Prioritizing debt repayment can help you repay what you owe faster, freeing up more money in your budget for saving. It can also help you spend less on interest charges.

But paying off debt and delaying saving might backfire. If you don’t have savings and you get hit with an unplanned expense, you could end up with even more high-interest debt.

Whether it makes sense to pay off debt or save depends largely on your financial situation. The right decision might be to try to do both.

The First Priority for Everyone: Build a Starter Emergency Fund

Without an emergency fund, an unplanned expense or loss of income could result in racking up even more debt, putting you further in the hole.

Financial professionals generally recommend building an emergency fund of three to six months’ worth of expenses. If you’re self-employed or work seasonally, you may want to aim closer to eight or even 12 months’ worth of expenses. An emergency fund calculator can help you figure out how much to save.

You could stash your emergency savings in a high-yield savings account. These accounts are designed to earn more interest than traditional savings accounts, which could potentially help your savings earn even more.

To figure out how quickly the balance in your savings account might grow, you can look at how frequently the interest compounds. (Compounding is when the interest is added to the principal in the account and then the total amount earns interest.) By plugging your information into an APY calculator, you can see the power of compound interest at work.

💡 Quick Tip: Are you paying pointless bank fees? Open a checking account with no account fees and avoid monthly charges (and likely earn a higher rate, too).

How to Decide What Comes Next: Compare Interest Rates

Once you’ve got your emergency fund in shape, you can focus on your debt. What’s important here is the kind of interest your debt has. Analyze all the debt you have — car loans, student loans, credit cards, and so on — and determine whether it’s high-interest debt or low-interest debt.

When to Aggressively Pay Down Debt (High-Interest Debt)

High-interest debt, such as credit card debt, can quickly accumulate and become overwhelming. The longer it takes to pay off, the more interest you’ll accrue, making it harder to escape the debt cycle. When you have high-interest debt, it makes sense to focus on paying off your debt first.

When to Prioritize Saving and Investing (Low-Interest Debt)

On the other hand, if you have debts with relatively low annual percentage rates (APRs) and you don’t feel unduly burdened by them, you could prioritize saving, while paying off your loans and other debts according to their payment schedules.

Recommended: Why Your Debt to Income Ratio Matters

The Best of Both Worlds: How to Pay Off Debt and Save Simultaneously

If you have high-interest debt under control and you also have an emergency fund, consider saving and paying down debt at the same time. Here are some tips to help you manage both.

•   Create a budget: A budget can help you track your income, expenses, and savings. The key is to allocate specific amounts for debt repayment and savings to ensure both are addressed every month.

•   Cut unnecessary expenses: Review your expenses and identify areas where you can cut back. Redirect these funds toward debt repayment and saving.

•   Automate saving: Once you have target monthly savings amounts, it’s a good idea to set up automatic transfers to your savings accounts. This ensures consistent saving without the temptation to spend the money.

While you’re at it, make sure you’re happy with your banking experience. You can compare bank accounts to get the best interest rates and customer service, for example.

•   Take advantage of your employer’s 401(k) match: If your employer offers a 401(k) plan with a company match, it’s a good idea to try to contribute at least enough to get the maximum employer match. This is essentially free money and it could help add to your retirement savings.

•   Increase income: You might also want to explore ways to boost your income, such as taking on a side gig, freelancing, or asking for a raise. You can then use the additional income to pay down debt faster and boost your savings.

•   Use windfalls wisely: If you receive a bonus, tax refund, or any unexpected sum of money, consider using it to pay down debt or boost your savings rather than going on a shopping spree.

Strategies to Pay Down Debt

Once you commit to paying down your debt, you’ll want to come up with a plan for how to do it. Here are some strategies to consider.

The Debt Snowball Method

With the snowball method, you list your debts in order of size. You then funnel extra money towards the smallest debt, while paying the minimum on the rest. When the smallest balance is paid off, you move on the next-smallest debt, and so on. This can provide psychological benefits by giving you quick wins and motivating you to continue.

As you’re paying down debt, be sure to monitor your checking account regularly to make sure you have enough money in it to cover your bill payments.

The Debt Avalanche Method

Another approach is the avalanche method. With this strategy, you list your debts in order of interest rate. You then direct any extra money toward the balance with the highest rate, while paying the minimums on the other debts. Once the highest-interest debt is paid off, you move to the next highest, and so on. The debt avalanche minimizes the amount of interest you pay over time.

Recommended: How to Set and Reach Your Savings Goals

The Takeaway

Saving and paying down debt is a balancing act. Which is more important? There’s no one-size-fits all answer. Generally speaking, you’ll want to fund your emergency savings account before you aggressively focus on debt payoff. After that, you can focus on saving and knocking down debt at the same time.

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.

Better banking is here with SoFi, NerdWallet’s 2024 winner for Best Checking Account Overall.* Enjoy 3.30% APY on SoFi Checking and Savings with eligible direct deposit.

FAQ

What is considered high-interest debt?

While there is no one definition of high-interest debt, it is typically considered to be debt with a high interest rate, often in the double digits. For example, the average credit card interest rate as of August 2025 was 24.35%. Credit cards are considered high-interest debt, as are certain types of loans (such as personal loans) for borrowers whose credit is poor.

How much should I have in my emergency fund before aggressively paying down debt?

Before aggressively paying down debt, it’s a good idea to save three to six months’ worth of living expenses in an emergency fund. Otherwise, if you don’t have any savings to draw on to cover an unexpected expense or event, you might have to use high-interest credit cards to get by, which would compound your debt.

Should I use my savings to pay off my car loan or student loans early?

Whether you should use your savings to pay off your car loan or student loans early depends on your specific financial situation. Generally speaking, if you have additional savings beyond the recommended three to six months’ worth of money in an emergency savings fund, you might consider using some of that extra savings to pay off your car loan or student loans early. But it’s best not to use the money in your emergency fund for this, so that you’ll be covered if a surprise expense pops up.

Should I stop contributing to my 401(k) to pay off debt?

If your employer offers a 401(k) plan with matching employer funds, it’s wise to contribute at least enough to get the full employer match, if possible. This is essentially free money you would otherwise miss out on. Once you’ve received the 401(k) employer match, you could work on paying off your high-interest debt.

Does paying off debt or saving have a bigger impact on my credit score?

Paying off debt generally has a bigger impact on your credit score than saving does.That’s because paying off debt can reduce your credit utilization, which is the amount of credit you’re using compared to the amount of credit you have available. The lower your credit utilization, the better. A low credit utilization can have a significant positive impact on your credit score. In fact, credit utilization accounts for 30% of your FICO® Score.

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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.
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/.
*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.

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.

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®

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Setting financial goals is one of the most important steps you can take toward building a secure and stress-free future. Without clear goals, it’s easy to spend impulsively, fall into debt, or miss out on opportunities to build wealth. Whether you’re saving for a vacation, trying to get ahead of debt, or preparing for retirement, a well-structured financial plan can help you stay focused and motivated.

What follows is an essential guide to financial goals — from understanding their importance to setting achievable milestones and adjusting your plan when life changes.

What Are Financial Goals and Why Are They Important?

Financial goals are specific money-related targets you set to guide your financial decisions. They give you direction and help you align your daily spending habits with long-term priorities. Instead of letting money just come and go from month to month, you create a roadmap that leads you toward stability, independence, and growth.

Goals are also important because they provide:

•   Clarity: They help you understand what you’re working toward.

•   Motivation: Defined goals encourage you to save instead of overspend.

•   Control: They prevent financial stress by giving you a sense of purpose.

•   A way to track progress: Goals let you measure how far you’ve come.

Without goals, money has a tendency to slip through the cracks. With them, you can make strategic decisions that improve your financial health step by step.

💡 Quick Tip: Want to save more, spend smarter? Let your bank manage the basics. It’s surprisingly easy, and secure, when you open an online bank account.

Types of Financial Goals: Short-, Mid-, and Long-Term

Financial goals depend on timeframes and priorities. Generally, they fall into three categories — short-, mid- and long-term goals.

Examples of Short-Term Financial Goals (1-3 Years)

Short-term goals are immediate priorities. They include the things you want to buy or do within the next few months or years, and help build momentum for bigger challenges. Examples include:

•   Building an emergency fund

•   Paying off a credit card balance

•   Saving for a vacation or holiday gifts

•   Creating a monthly budget and sticking to it

•   Setting aside money for a new laptop or phone

Examples of Mid-Term Financial Goals (3-10 Years)

Mid-term goals take more time and planning and act as a bridge between short-term wins and long-term security.

They often involve saving or investing for significant life milestones and might include:

•   Paying off significant debt (such as student loans)

•   Saving for a wedding or dream vacation

•   Saving for a down payment on a house

•   Funding a large-scale renovation

•   Growing an investment portfolio

Examples of Long-Term Financial Goals (10+ Years)

Long-term goals shape your financial future and often require consistent commitment. These goals can seem intimidating, but breaking them into smaller steps makes them achievable. Common long-term goals include:

•   Saving for retirement through 401(k)s, IRAs, or pensions

•   Paying off a mortgage completely

•   Funding your children’s college education

•   Achieving financial independence or early retirement

•   Building generational wealth through investments

Recommended: Savings Goals by Age

How to Set Financial Goals in 5 Steps

Now that you understand the different types of goals, here’s how to set them effectively:

Step 1: Understand Your Current Financial Health

Before setting goals, it’s important to have a clear picture of where you currently stand. You can do this by gathering the last several months of financial statements and then using them to determine:

•   Your average monthly income

•   Your average monthly spending

•   Current debt balances

•   Status of your emergency savings and retirement accounts

This assessment forms the foundation for realistic goal setting.

Step 2: Define What You Want to Achieve

Once you have a snapshot of your overall financial situation, it’s worth spending some time reflecting on your money goals: what is really important to you.

While there are many things people commonly save for, like a down payment on a house or retirement fund, your financial goals might not be the same as your sibling’s or your coworker’s.

Think about what you would like to accomplish in the next few years, in five or so years, as well as decades from now, and simply jot them down. Keep in mind that these goals aren’t set in stone — they can and likely will change over time.

Step 3: Make Your Goals S.M.A.R.T.

A vague goal like “save money” is hard to stick to. Instead, consider using the S.M.A.R.T. framework:

•   S for Specific: Be clear  about what you want to achieve, such as exactly what you want to save or how much you’ll need to pay off a debt.

•   M for Measurable: Assign real numbers to your goals. Measurable goals allow you to track your progress and monitor your success.

•   A for Achievable: Setting unrealistic expectations can lead to frustration and disappointment. Ensure your goals are realistic for your income and expenses.

•   R for Relevant: Make sure your goals align with your overall financial plan and your life priorities.

•   T for Time-based: Set a deadline (e.g., within 10 months) for each goal.

SMART goals help keep you accountable and focused.

Step 4: Create a Budget That Includes Your Goals

Your budget is the tool that makes your goals achievable. And thanks to Step 1, you already know your average monthly income and expenses. The next step is to decide if your current spending aligns with your goals, or if you need to rejigger your spending to free up more funds for saving.

There are many different types of budgets, but one popular framework is the 50/30/20 rule. This divides your take-home income into three categories:

•   50% for needs (housing, food, utilities)

•   30% for wants (entertainment, travel)

•   20% for savings and debt repayment

“Thinking about where to put your 20% savings each month can help you reach your goals,” says Brian Walsh, CFP® and Head of Advice & Planning at SoFi. “High-yield savings accounts, money market accounts, certificates of deposit, and cash management accounts are all vehicles that may pay more interest than a traditional savings account, helping your savings grow.”

Step 5: Track Your Progress and Stay Flexible

Once you’ve set some goals and established a budget, it’s a good idea to track your spending for a few months to make sure you are sticking to the plan.

You can track your spending with plain old pen and paper or a computer spreadsheet, but a simpler option is to put a budgeting app on your phone. Your bank may even offer a free tool that automatically tracks and categorizes your spending in real time.

If you find that your budget isn’t realistic, or your financial situation changes at some point, you may need to make some adjustments to your budget. That’s why it’s important to check in with your money regularly.

Common Financial Goal Examples

Here are some six popular financial goals you might include on your list:

1. Build an Emergency Fund

Whether you’re easily covering your monthly expenses or grabbing change from the bottom of your bag to buy a coffee, many people are living paycheck to paycheck. But what if that paycheck disappeared or if you had a large, unexpected expense? Enter the emergency fund.

Having an emergency fund can help you comfortably manage an unexpected medical bill, major car or home repair, or a sudden loss of income with having to run up high-interest debt.

A general rule of thumb is to have three to six months’ worth of living expenses set aside for emergencies. While that can be a sizable sum, keep in mind that you don’t have to build your back-up fund overnight. You might first set a short-term goal of saving a small cushion of $1,000, then build from there.

Recommended: Emergency Fund Calculator

2. Pay Down High-Interest Debt

High-interest credit card debt can feel like a treadmill: Despite constant effort, you never seem to get any closer to the finish line. By prioritizing repayment, however, you can make real progress. This will free up cash flow you can then redirect towards savings and investments.

Two popular payoff approaches are the debt avalanche (paying off the highest-interset debt first) and the debt snowball (paying off the smallest balance first to build momentum). Whichever you choose, the key is to consistently make extra payments and avoid new debt along the way.

3. Start Saving for Retirement

Most of us know we should be saving for retirement, but making it happen can be challenging when there are so many competing places to put our money. The good news is that even small contributions to a retirement account can grow to significant savings over time. This is largely due to the magic of compounding returns — when the returns you earn start earning returns on their own.

One rule of thumb is to save at least 15% of your pre-tax income each year, including any employer match. If that’s not feasible right now, try to contribute at least up to any employer match (otherwise you’re leaving free money on the table).

4. Save for a Down Payment on a House

For many people, owning a home is a major milestone and a symbol of financial stability. But buying a home often requires a significant down payment, typically ranging from 3% to 20% of the purchase price. Saving for this can feel overwhelming, but breaking it into smaller milestones makes the goal achievable.

Consider opening a dedicated high-yield savings account for your down payment fund so it remains separate from everyday spending. Or, if your bank offers savings vaults, you might create a sub-savings account within your main one earmarked for your down payment. Then automate contributions to this account or vault so it grows over time.

💡 Quick Tip: Most savings accounts only earn a fraction of a percentage in interest. Not at SoFi. Our high-yield savings account can help you make meaningful progress towards your financial goals.

5. Invest for the First Time

Investing allows your money to work for you, building wealth beyond what traditional savings accounts can provide. While investing might seem intimidating at first, starting small is often the best approach. Low-cost options like index funds, exchange-traded funds (EFTs), or robo-advisors make it easier than ever to get started without needing extensive financial knowledge. As your income grows, you can increase contributions and diversify your portfolio.

6. Pay Off Student Loans

Student loans are a reality for millions of people, and paying them off can take years. Carrying this debt affects your ability to save, invest, and even qualify for other financial opportunities like a mortgage. That’s why making a structured repayment plan is so important.

Start by reviewing your repayment options — federal loans may offer an income-driven repayment plan or refinancing opportunities. Making extra payments towards the principal when possible can reduce the overall interest you pay and shorten the repayment timeline.

Financial Goal Examples for Students

Students often juggle limited income with rising expenses, making financial goals essential. Here are some practical ones to consider:

•  Creating and sticking to a monthly budget

•  Building a small emergency fund (even $500 helps)

•  Paying off credit card balances in full each month

•  Saving for textbooks or tuition payments

•  Beginning to invest through a low-cost brokerage app

•  Applying for scholarships or part-time jobs to reduce student loan reliance

Setting goals early can help students avoid financial pitfalls and build healthy habits for adulthood.

How to Adjust Your Financial Goals if Your Circumstances Change

Life rarely goes exactly as planned. You might face job loss, medical expenses, or unexpected windfalls like a bonus or inheritance. When your circumstances shift, it’s important to:

•  Reevaluate your priorities: Decide which goals still matter most.

•  Adjust timelines: You may be able to shorten a deadline or you might need to extend one or more of your timelines.

•  Reallocate resources: If money is tight or your priorities change, you may want to shift money from one goal to another.

•  Stay flexible: Remember, goals are not fixed — they evolve with your life.

The Takeaway

Setting financial goals isn’t about perfection — it’s about progress. By understanding your current financial health, defining clear objectives, and using the SMART framework, you can create a roadmap toward stability and success.

Whether you’re saving for your first emergency fund, tackling debt, or planning for retirement, goals can give you the motivation and direction you need to take control of your financial future. The key is consistency. Start small, stay flexible, and remember that every step forward brings you closer to your near- and long-term aspirations.

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.

Better banking is here with SoFi, NerdWallet’s 2024 winner for Best Checking Account Overall.* Enjoy 3.30% APY on SoFi Checking and Savings with eligible direct deposit.

FAQ

Is it wise to invest your emergency fund?

Generally, it’s not wise to invest your emergency fund in risky assets like stocks or mutual funds. An emergency fund should remain easily accessible and safe, since its purpose is to cover unexpected expenses or a sudden loss of income. Keeping it in a high-yield savings account or money market account balances safety with some interest growth. Once your emergency fund is secure, you can focus on investing other money for long-term goals.

What is the most important financial goal?

For many people, the most important financial goal is to build a strong foundation of financial security. This typically means creating a healthy emergency fund and paying down high-interest debt. Without stability, it’s difficult to make progress toward other goals like saving for retirement, buying a home, or investing.

Once your essential safety net is in place, you can prioritize goals that align with your lifestyle and values, such as long-term wealth building, financial independence, or providing for your family’s future.

How many financial goals should you have at once?

It’s often best to focus on a manageable number of goals (such as two or three) at one time. Trying to juggle too many can spread your money and attention too thin, making it harder to make meaningful progress. A practical approach is to prioritize one short-term goal (like building an emergency fund), one medium-term goal (such as saving for a car or vacation), and one long-term goal (like retirement savings). This balance helps you stay focused while still moving forward in multiple areas.

What is a good financial goal for a beginner?

A great financial goal for beginners is starting an emergency fund. Even saving a small amount, such as $500, can provide a cushion against unexpected expenses and reduce the need to rely on credit cards or loans. Once that’s established, beginners can aim to save three to six months of living expenses. Other beginner-friendly goals include paying off small debts, creating a realistic budget, or setting up automatic savings. These goals build confidence and establish strong money habits for future success.

How can I set financial goals with a partner or family?

Setting financial goals with a partner or family starts with open communication about values, priorities, and long-term dreams. Begin by discussing shared goals, such as buying a home, paying off debt, or saving for children’s education. Next, agree on a budget and assign responsibilities for managing finances to ensure accountability. Regular check-ins help you stay on track, celebrate progress, and adjust goals as life circumstances change.

What tools can help me track my financial goals?

Several tools can make tracking financial goals easier and more organized. Budgeting apps like YNAB, GoodBudget, or PocketGuard allow you to set savings targets and monitor spending. Spreadsheets are another customizable option for tracking progress. Many banks also offer built-in goal-tracking features through their mobile apps.

For long-term goals, investment platforms often provide dashboards showing growth toward retirement or wealth-building objectives. The key is choosing a tool you’ll use consistently, helping you stay motivated and accountable.

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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.

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.

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

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.

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