How many bank accounts should I have?

How many bank accounts should you have? As many as your bank will allow!

You need to have a purpose to save money. Why are you saving? What are you saving for? Ask yourself that question.Whether it’s for a car, furniture, down payment on a house, vacation, etc, it’s important to know why you are saving.

Find a bank with high yield savings  and open several bank accounts and give them different nicknames. For example:

-Checking account ( look for checking accounts with no fees). Credit unions typically offer no fees.



-Cushion money AKA emergency fund

-My fun money

-Wealth building account

-Baby # 1

-Baby # 2

-Down payment for house

How many bank accounts do you have? Leave me a comment below.

Disclaimer: The post is for informational and educational purposes only.  Please consult your financial adviser for appropriate financial advice. 


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