Thursday, March 9, 2017

Banking

                                   Hello My Cheap Cheetah Family, How Are you Today???

Bank accounts?!
So I was YouTube surfing and came across this couple who make financial videos. The wife apparently has a degree in finance according to their site. I located a video they had about why they use 13 bank accounts. I only watched 1/3 of the video but figured out pretty quick they are basically treating the bank accounts as categories. They have one account the direct deposits go into, and then they put money into other accounts such as eating out, non-monthly bills like taxes, etc. so do you think a person needs 13 bank accounts to separate their money or a simple spread sheet?

I personally have about 4 bank accounts, Not counting my investment accounts. I could see people using a lot of bank accounts for various reasons. I remember an old personal fiance books that I read that stated you must have 13 bank accounts that way you can separate your money.  My feeling is this yes as long as it's a free account and they are not charging  you interest. then by all means open as many as you like but make sure you really need them and at least get something out of the deal like a free gift or some money for opening the account.
Have a Great Cheap Cheetah Day!

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