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!

My goal is to Impact others and Create A Better Financial Future for all!

Feel free to reach out to me at any time with any questions or just to say hey!

Also, if you are interested, check out my Youtube Channel

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.

Add Reply

Link copied to your clipboard.