Comments on: Quick Finances: Consolidate Your Bank Accounts

By: How Rich People Think-Interview with Steve Siebold | My Financial Reviews

How Rich People Think-Interview with Steve Siebold | My Financial Reviews — Mon, 16 Jan 2012 16:36:33 +0000

[...] few weeks ago. I think his new book is a great fit for those needing a starting point on how to tackle their finances. Intrigued by it, I sent some questions to the author to pick his brain on the [...]

By: Steve Siebold Interview – How Rich People Think

Steve Siebold Interview – How Rich People Think — Sat, 02 Oct 2010 03:48:47 +0000

[...] a few weeks ago.I think his new book is a great fit for those needing a starting point on how to tackle their finances. Intrigued by it, I sent some questions to the author to pick his brain on the [...]

By: Elle

Elle — Sun, 27 Jun 2010 17:18:02 +0000

@Financial Samurai: Thanks for sharing your system!
That’s why having hard and fast rule sin finance are rare – what’s deemed necessary for one person is a duplication for another.

I think key to determine how many accounts you should have is how many can you keep track of.

Being conscious of your money is vital. You shouldn’t have to track it every minute, but you should be able to get the balances easily.

@Little House: Yeah, having a business definitely requires keeping additional accounts. I have separate checking and savings for the business and with it being automated, it’s been a breeze so far.

By: Little House

Little House — Sun, 27 Jun 2010 01:10:48 +0000

I finally consolidated a couple of my checking accounts into one and am saving $20 a month in fees. However, because my husband and I have a business, we still are left with 4 accounts at a major branch (2 business and 2 personal) plus an online savings account. The total: 5 accounts.

By: Financial Samurai

Financial Samurai — Sat, 26 Jun 2010 12:45:32 +0000

I gotta admit, I do the exact opposite and create multiple accounts using my “going broke to win big strategy”. I’ve got a debt bank, several savings bank, and a cash flow bank so I can maximize my returns, lower my debt, and have nothing in my cash flow bank so I don’t tempt myself.

Seldom, if ever will one bank have it all! That is why some banks have such higher CD/savings rates.