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How Many Bank Accounts?

Melos

Registered Member
I am just getting into the position of having enough money to start spreading it around a bit. I have a checking account and 2 savings account that are both joint - one with each of my two children.

Do you get seperate bank accounts for different purposes? Or seperate mutual funds (or whatever) to save for different things? New car fund, house fund, etc.
 

Bunny_roses

what? no pink?
having seperate accounts helps me keep it all straight hehe I have 5 right now, one checking account for bills and what not, I have my personal savings account, my daughters personal savings account, I have a vacation account, and a school account that pays for tuition and anything school related. I used to have it all together but it just seems so much easier to keep track of everything this way.
 

taiarain

Registered Member
Sometimes I feel like I have too many accounts. I have a personal account, a business account, a joint account with hubby, a joint account with one of my parents, a savings account, and an investment account.

I use a spreadsheet to allocate every penny in the savings account.
 

mamab

Registered Member
We have two business accounts (not much money in either of them) and one personal account. I would just caution you to make sure you don't get charged a fee for each of the accounts you have. Luckily, ours are all free accounts.
 

Melos

Registered Member
Oh, I definately agree that you should get free accounts always. I can't imagine paying for a bank account.
 

taiarain

Registered Member
Nods, nods. I refused to use the bank I use for my personal accounts for my business account because they didn't offer free small business checking.
 

rubybug

New Member
Maybe I should get another bank account, we only have one savings account. Seems like another account might make things easier.
 

Mirage

Secret Agent
Staff member
V.I.P.
Having multiple bank accounts can be confusing, especially if some are in business names. I have a few in another state that I am trying to get closed down but I can't until I open a new one where I live now.

It's harder than it sounds though, and is quite stressful.
 

Melos

Registered Member
I opened up my last 3 checking accounts online quite easily. I've been switching around bank accounts for a while since I had multiple joint ones with first ex-husband and then ex-fiance. Now I'm on my own and trying to get everything organized.
 

Penguin

Registered Member
I have 2 savings accounts, 1 joint checking with dh. I should probably think about savings with the kids. They're getting old enough now.
 
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