Starting fresh at 23 is like being a contestant on a game show where the prize is financial freedom. You’ve got the world at your feet and the chance to set yourself up for success. Let’s dive into the key accounts you should consider opening and how to pick the right banks for your new financial journey.

First things first, you’ll want to open a checking account. Think of this as your financial sidekick, always there to help you manage your day-to-day expenses. Look for a bank that offers no monthly fees and easy access to ATMs. Many online banks are great for this—just like a streaming service that gives you access to all your favorite shows without the commercials. You want a checking account that’s easy to use and doesn’t come with hidden costs.

Next up is a savings account. This is where you can stash away your hard-earned cash and watch it grow, kind of like that plant you forgot about in the corner of your room that suddenly turned into a lush jungle. A high-yield savings account can offer better interest rates than traditional ones, so your money can work a little harder for you. Look for accounts with no minimum balance requirements, so you can start saving even if it’s just a few bucks a month.

Now, if you’re really serious about building a strong financial foundation, consider opening a retirement account. I know, I know, at 23 it feels like you’re signing up for a club that’s way too far in the future, but trust me—it’s never too early to start thinking about that golden years vacation! A Roth IRA is a great option, as it allows your money to grow tax-free. You can contribute even while you’re still figuring out your budget, and it’s a fabulous way to set yourself up for financial comfort later on.

When choosing a bank, think about your lifestyle and how you prefer to manage your money. If you love the idea of banking from your couch in your pajamas, an online bank might be your best bet. They often have lower fees and better interest rates because they save on overhead costs. However, if you’re more of a traditionalist who likes having a physical branch nearby for those rare occasions when you need to talk to a human, a local credit union or a big bank with a good reputation might be the way to go. Just make sure they have access to a solid ATM network so you’re not left hunting for a machine when cash is needed.

Also, don’t forget about mobile banking features! The best apps can make budgeting feel less like a chore and more like a fun game. Look for banks that offer budgeting tools, savings goals, and instant notifications for transactions. It’s like having a personal finance coach in your pocket, cheering you on every time you make a smart money move.

Finally, consider setting up a budget. It sounds daunting, but think of it as your financial GPS. It’ll help you navigate your spending, savings, and investments, steering you clear of the financial potholes that can derail your progress. Apps can help with this, too, making budgeting feel less like a task and more like a fun game of strategy.

Building your financial foundation at 23 is not just about the accounts you open; it’s about how you approach your money. Embrace the process, keep it light, and remember that every little step you take is part of your financial adventure. Soon, you’ll be the one giving advice to your friends on how to start their own money journeys.