Archive for the ‘Monies’ Category

Confessions: I have 2 checking accounts and 9 savings accounts

This is getting serious.

I have 11(!) checking/savings accounts. More specifically, I have 2 checking accounts, and 9 savings accounts. Whoa.

I think I have a problem. But let me explain!

2 Checking Accounts

Each week money for bills is pulled from the main checking to the second checking. Everything is auto-deducted from there. Whats left is our spending and food money.

2 savings accounts with local banks.

I like knowing I can get some money immediately if needed. No two day wait like the internet banks.

5 online bank accounts, all with ING.

They are for separate things.  I don’t know about you but if I have a lump sum of $3,000, I am all like “lets throw a party!! I have plenty of money!! Whats 500 bucks?”. But what if that $3,000 is split across 3 accounts that are designated for certain things like: insurance deductibles, vet bills, auto repairs? It’s a lot harder to spend.

Also as I mentioned earlier, it takes 2 days to get the money transferred in, so it cuts down on impulse spending.

2 Health Savings Accounts

One for each of us. If you have high deductible insurance, than you should really have an HSA. I’m not going to go into the details, but it’s a really good idea for you to google it. Or go to your bank’s website.

In addition to these, I have my own separate online brokerage account.  Just to play around and learn though. I’m not quite ready to start investing heavily.

So thats the breakdown.  I like to call myself a financial wizard/dork.

❤ P.Magpie

Dorkiest Wizard EVAH!