Matthew Doffing

Matthew Doffing is a consumer banking columnist at Bankrate. He focuses on helping depositors determine how best to grow their savings amidst the everchanging landscape of interest rates and financial institution strategies.

Matt has worked in banking since 2009. His first job, after obtaining his Bachelor of Arts in history and philosophy from the University of Minnesota, was at Wells Fargo, where he learned firsthand how debt obligations helped or hindered commercial customers in navigating the aftermath of the financial crisis.

Resolved not to carry his $35,000 in student debt until near retirement, Matt decided to pay it off within five years. But the obvious questions were: How can someone on an entry-level salary find extra money after all their expenses? How could they come up with enough to significantly reduce their student debt?

When the approaches offered by budgeting gurus just didn’t work, he created his own approach and automation process within his online bank accounts which controlled expenses, grew card rewards, generated savings, and invested savings in CDs and savings accounts. The process worked so well that he made his final student debt payment in 2014, and now lives debt-free (aside from his mortgage) even though he has to pay for surprise expenses often.

Now, having joined Bankrate in 2024, Matt helps others understand how to get their budgets and savings working for them.

Matt is also the founder and CEO of FinProse, a content-as-a-product firm providing banks and credit unions with educational content for small businesses. He also is senior editor at The Financial Brand where his articles cover the most pressing challenges, changes and opportunities for financial institutions.