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11 August 2010

How many bank accounts do you have?

I'm asking this question because I somehow got to thinking about how many bank accounts we still have despite my quest to streamline and simplify everything.

There's {between us} 3 checking accounts, 6 e-savers, 5 ING sub accounts, 3 credit cards, and 2 ISA's.  19 accounts, too many for our one income family.

We each have a checking account and then there's joint one; each checking account automatically has an e-saver attached to it. We both have an Amex card and my husband also has a visa card {Amex is not always taken}; one of the ISA's has an e-saver attached to it {condition of the account}. There are also two more e-savers attached to our joint account.

Now I'm not sure if I or my husband is ready to give up our personal checking accounts.  It's a difficult one, but this would sure reduce the amount of accounts we have.  We could also joint up the Amex cards.

I'm interested in your opinion on this, do you have your own accounts or do you and your husband/partner have joint everything?

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9 comments:

  1. I've always had my own account and always will. I know everyone has different ways of managing their money and it can be a potential minefield if you don't agree on what's best. Luckily we do!

    My husband earns a lot more than me and I wouldn't feel right spending what I see as his hard earned money on myself. I realise this might be controversial! If I was a homemaker and didn't earn my own money obviously it would be different. I sometimes do feel though that I would actually spend less if we shared everything because I would feel under scrutiny, so maybe that would be a good thing, lol!

    We have separate checking accounts but one joint savings account which we use for household spending and holidays etc. We then each have an ISA and also each have an ING savings account.

    I also have an extra checking account which I originally set up to separate my income from self-employment from my income from paid employment before I gave up my paid job and went self-employed full-time. We each have one credit card.

    So I suppose that's 10 accounts between the two of us!
    ReplyDelete
  2. I have an ING account, this is used purely for saving.

    I also have an account with a local bank which my wages are put into and all my bills are paid from this account.

    With the same bank my Husband and I have a joint account with a sub account attached to it, this is where we would save for the big ticket items like holidays or new furniture.

    Husband also has his own bank account which his salary is paid into, and then there is his credit card account.

    All up 6 accounts
    ReplyDelete
  3. When we first married, we each had our own checking accounts and a joint account. Things got confusing at that time, so we condensed everything down to one account.

    We once had three checking accounts, a couple of credit accounts, and a savings account. We now have one checking account and one savings account.
    ReplyDelete
  4. At bank A I have a chequing and a savings. The chequing is where my pay goes in and I pay my bills out of. I also take my weekly 'jar' money out of here. The savings is for planned savings like yearly expenses and my intermittant visits to get my hair done.

    At Bank B I have a chequing and a savings. The chequing is where I pay all the boys' expenses out of (sports, music, school etc). The savings is where I put my EF, summer, xmas, rrsp savings.
    ReplyDelete
  5. I have two. My main everything comes out of those account at WellsFargo and then my gas/ car maintence account at Chase. I opened my Chase account because I recieved a 100 dollar bonus though, to be honest.
    ReplyDelete
  6. Thank you for all your replies, which have convinced me that we do have too many accounts......off to simplify :-)
    ReplyDelete
  7. we have 1 checking & 3 savings (1 saving for property tax/insurance, 1 for fun things we aren't willing to give up & 1 for the christmas fund!)
    ReplyDelete
  8. We have 3 checking, and as many savings accts. We mostly use the joint, local, checking and savings, but we kept our initial ones (with minimal money in them) because they sometimes offer really good CD rates.
    ReplyDelete
  9. I myself have:
    1 chequing, 8 savings, 3 credit cards, 1 line of credit and one RRSP account.

    BF has:
    1 chequing, 1 savings, 1 line of credit

    Jointly, we have:
    1 savings account

    In the future when we're married, we will open up a joint savings and joint chequing account. But we will keep our own chequing and savings accounts as we see fit. BF will probably get a secondary card to all my credit cards and we'll make those joint as well.
    ReplyDelete

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