In the same way I use a variety of Google accounts to carry out different kinds of work in dedicated browsers, I use a few different bank accounts to divide my money, though I use "bank account" to describe a few things that might not technically be bank accounts. Two are traditional ones, one through the bank I grew up with in my hometown and another through Chase. The other two are digital, my Venmo and Chime accounts. For all four, I have an app, a debit card, and, crucially, a plan.
Why this strategy works for me
"But Lindsey," you may say, "You have the same amount of money whether it's in four accounts or one. Why bother with all this?" Well, because I'm bad at budgeting, that's why. If I had one single account and opened my app on payday to see all my money in one place, I'd go a little hog wild without remembering to plan ahead for needs at different levels of severity. Opening four accounts, seeing four different amounts, and having a better idea of precisely how much I have available to spend for each category makes me think a little more and puts up a little buffer to stop me from waltzing into Sephora without a care in the world.
There have really been no downsides to this besides needing a wallet with a substantial number of pockets. All the cards except for the "serious" one are linked up to my Apple Pay, anyway, and the only issue there is I have to be more diligent about not letting myself use them for purposes other than the ones I've assigned to them just because it's convenient. For someone who's good at budgeting and managing their money, this probably isn't entirely necessary, but if you read even a word of this and related to me, consider it. The accounts were all easy to set up, the debit cards were all free with the accounts, and since I implemented this strategy, I have never found myself in a position where I don't have enough money to cover the things I need and the things I want just because I went a momentarily numb in the brain on payday.
Read More Details
Finally We wish PressBee provided you with enough information of ( How Opening Multiple Bank Accounts Helped Me Manage My Money Better )
Also on site :