I personally have around 10 bank accounts!

Some of them are with traditional banks and others are with apps.

For me, I like having different accounts for different reasons, some I use for savings, one I use to separate my food delivery income and there are a couple I barely use.

A couple of them I opened simply because they were offering a bonus and others I opened because I like trying new financial apps out.

Do you use multiple bank accounts or do you prefer all your money in one spot?

Why or why not?

Hi, I'm Jon Moore!

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Original Post

I'm laughing at your headline because i was just discussing this with someone yesterday. I have about 10 as well, and with 3 different banks. Some of them have a single purpose (reduced car loan interest rate at a particular bank if I use direct debt, so there's account just for that), one for each child that I put $10 in each payday, and others that are more general. There's obviously one that I use for everyday stuff- general bills and debit card. I love the different accounts! I use direct deposit for a few of them, and others i have a 'bill pay' set to automatically transfer so I don't have to do it. Once its set up, I don't even think about having access to the money. I find it to be a GREAT way to save and manage my money. 

@KellyFromKeene I agree with you, it is a really great way to save money without really thinking about it. I have one app that pulls $5 from an account every week and I occasionally add some extra. Just doing that I built it up to over $300 pretty fast without really even missing the money.

@mintjulep It can definitely get a little hectic the more accounts you have, I am still trying to develop an effective way to organize mine.

MOORE INCOME I've 2 in the same bank 1 i pay bills out of
the other i use for credit cards and pay pal. I would like to
get one where i can put money in to save like your $5 one.
I think i've built up some good change saving I got a pringles
can filled with change and my purse is so heavy with change.

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