DO you have checking and savings account, one, or both
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I have way too many bank accounts. I chase bank account bonuses and recently just went through a string of them. Currently have 7 checking accounts and 3 savings accounts - none of the savings are at banks that I have checking. It's a lot to manage but I'm super organized and don't pay fees on any of them.
But why? You might have a reason but I just can't imagine why 7 checking accounts so I'm curious.
But why? You might have a reason but I just can't imagine why 7 checking accounts so I'm curious.
For the sign-up bonuses. Ex. Open up a new savings account with $15k in new money, and if you maintain that balance for 3 months, the bank will give you $300.
I have either checking and saving.
You can set a % of your monthly income to save money.
I automatically have 5% of my income every month in the saving account.
All my "banking" is credit unions. Remotely. Haven't been in one in years.
Checking Accounts
Bills - Electric, cable, medicare, etc. Everything paid on a schedule
Real Estate - All transactions from 2 rental properties that pay for themselves and property tax/insurance/HOA on primary.
Other - Cash withdrawals, other odds and ends
Savings
Grandkid 1
Grandkid 2
Vacation/Entertainment Fund
Set aside for car payment
I have both. Actually I have two of each since I have a B&M bank and an online CU. In both cases it's free to have both so I didn't see why I shouldn't.
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