Is it good to have multiple bank accounts?
By Abbypia
@Abbyey (760)
Philippines
May 9, 2007 5:55pm CST
I wanted to save so i opened an account at BPI. I also wanted to open an account in BANCO De ORO and METROBANK. My intention was to separate my savings for PERSONAL / BUSINESS / FUTURE. Is this wise or should i just open one account and put all of my savings there?
Some say one account is easier to manage than having multiple accounts. What do you think? Do you have many accounts or just one?
1 response
@kykidd (6812)
• United States
10 May 07
I believe you should have multiple accounts. It is easier to keep everything separated that way. You have a good idea...Personal/Business/Future. I keep mine separate too..future investments/car/emergency funds. This way, I will hopefully have enough to pay cash for a car when mine starts showing too much age. And I am sure not to dip into that account for emergencies, or whenever I find an investment.
