People eventually grow out of their piggy banks. Eventually, you grow out of your high school account. So how many accounts should you have?

Keep in mind; no one has to keep all accounts at the same bank. Shop around for the best account for your circumstances.

A college student

A typical college student needs just two accounts. One should be a checking account for spending and bills. This is where you paycheck or source of income lands. The other account should be a savings with three-to-six-months worth of necessary funds. It might not be possible for a college student to a mass that much savings immediately, but putting aside at least 10 percent of any income will but you closer to that goal. Try to have funds for $500 car repair or $1000 hospital visit. You can also use the savings account to save for goals and trips.

A single adult

In addition to a checking account where bills and spending are handled, a single young adult should try to operate two separate savings accounts. One account serves as emergency funds with three-to-six-months necessary expenses. This account you don’t touch unless it’s for an actual emergency. The second savings account is for goal-oriented saving. Save for a down payment toward real estate, graduate school, a car or other big-ticket items. As you get on your feet finically, investing or putting money a high-interest rate account like a CD or a money market deposit account can reward you for saving larger quantities of money. Open a retirement account.

A business owner

If you’re a business owner or contact worker, separating money for your business and personal life makes taxes less complicated. If you have a number of business transactions, opening a separate checking account for transactions will keep things neat. Another option is getting a business credit card where you charge all business expenditures on the card. Then pay off the card with money from a business checking account. Be sure to maintain your personal finances and investments. If you are a freelancer or receive a 1099, be sure to have a savings account dedicated for tax quarterlies. Tax season can be less painful when you’ve paid ahead.

A married couple

This is where it gets more complicated. A couple should have the same long-term financial goals. Have a joint-savings account for long-term goals but have separate checking accounts for day-to-day use. A checking account for joint bills like the mortgage, utilities, car payments can organize money flow. A high yield account like a CD or money market deposit account can reward you for saving larger quantities of money but also increase savings toward goals like purchasing a house. Individual 401ks or Roth IRAs should be contributed into monthly.

Older empty nesters

Simplification is key. The fewer accounts the better. A checking account for bills and expenses and savings accounts for emergencies is essential. Accounts with both names help make sure funds are easily accessible or immediately transferable in case of death.

string(3224) "
People eventually grow out of their piggy banks. Eventually, you grow out of your high school account. So how many accounts should you have?
Keep in mind; no one has to keep all accounts at the same bank. Shop around for the best account for your circumstances. 
A college student
A typical college student needs just two accounts. One should be a checking account for spending and bills. This is where you paycheck or source of income lands. The other account should be a savings with three-to-six-months worth of necessary funds. It might not be possible for a college student to a mass that much savings immediately, but putting aside at least 10 percent of any income will but you closer to that goal. Try to have funds for $500 car repair or $1000 hospital visit. You can also use the savings account to save for goals and trips.
A single adult
In addition to a checking account where bills and spending are handled, a single young adult should try to operate two separate savings accounts. One account serves as emergency funds with three-to-six-months necessary expenses. This account you don't touch unless it's for an actual emergency. The second savings account is for goal-oriented saving. Save for a down payment toward real estate, graduate school, a car or other big-ticket items. As you get on your feet finically, investing or putting money a high-interest rate account like a CD or a money market deposit account can reward you for saving larger quantities of money. Open a retirement account. 
A business owner
If you're a business owner or contact worker, separating money for your business and personal life makes taxes less complicated. If you have a number of business transactions, opening a separate checking account for transactions will keep things neat. Another option is getting a business credit card where you charge all business expenditures on the card. Then pay off the card with money from a business checking account. Be sure to maintain your personal finances and investments. If you are a freelancer or receive a 1099, be sure to have a savings account dedicated for tax quarterlies. Tax season can be less painful when you've paid ahead.
A married couple
This is where it gets more complicated. A couple should have the same long-term financial goals. Have a joint-savings account for long-term goals but have separate checking accounts for day-to-day use. A checking account for joint bills like the mortgage, utilities, car payments can organize money flow. A high yield account like a CD or money market deposit account can reward you for saving larger quantities of money but also increase savings toward goals like purchasing a house. Individual 401ks or Roth IRAs should be contributed into monthly. 
Older empty nesters
Simplification is key. The fewer accounts the better. A checking account for bills and expenses and savings accounts for emergencies is essential. Accounts with both names help make sure funds are easily accessible or immediately transferable in case of death. 
"

This article includes affiliate links. We may earn a commission if you make a purchase, with no extra cost to you. We all know the feeling. You’ve had a stressful day, the news is bleak, the cost of rent, utilities, groceries, gas—just about everything — and suddenly, you find yourself clicking “Buy Now” on something

By Massimo Tornambe Scott Disick, aka “Lord Disick” has gained fame and a devoted following since his appearances on the reality show, Keeping Up with the Kardashians. Disick is renowned for his expensive taste in clothes, cars, and women. The question that millions of fans are asking is: where did his fortune come from? Scott

Traditional weddings can be incredibly stressful, not to mention super pricey – many newlyweds couldn’t even buy a house with that money. What’s supposed to be the happiest day of your life can often feel like an endless quest for absolute perfection – almost as if the ceremony doesn’t come off flawlessly, the marriage itself

There’s a weird shift that happens when your kid turns 18. One minute, you’re mushing their vegetables and cutting their grapes in quarters, and the next, you’re side-eyeing the dinner check, wondering: Wait… are they going to offer to pay? Should I let them? Do they have enough in their checking account to cover an

Conversations about the Law of Attraction are super popular these days. Basically, it means: positive thoughts bring positive results into a person’s life. And negative thoughts or habits . . . Well. Let’s not bring negativity into this 🙃.  Many folks are eager to turn their lives around — seeking love, peace of mind, happiness,

As the old saying goes…the proof isn’t only in the pudding it’s in your closet, your cupboards, your back porch and – if you have one – your garage. You’ve got too much stuff. Everywhere. It’s not just a bunch of grandmas building enormous collections of margarine tubs or Uncle Bill’s believe it or not

Though the wave of tech layoffs and the threat of a recession has overshadowed yesteryear’s news of the great recession, everywhere you look, employees are asking for more — and getting it. Though this time of uncertainty could have given employers back the power, it’s still in the hands of the workforce. From Gen-Z’s boundary

It always starts the same way: I’m lying in bed, eyes wide open, doom-scrolling my way through the horrors of the world — climate change, inflation, AI replacing everyone, weird vibes from my boss. My heart races, my brain pings around like a pinball machine, and just when I think I might try deep breathing

The Momager May Be Worth More Than You Think… Kris Jenner is a pop culture icon for many reasons. While you may have watched her meteoric rise to fame on Keeping Up with the Kardashians — which originally debuted on E! — she’s actually been a fascinating figure in the public eye for ages.  As

Everyone says the economy’s healthier than ever, but some of us still find it necessary to make that paycheck stretch…and stretch…and stretch. The better we understand our spending habits, the better we can manage them. Living frugally can benefit you in many ways. You’ll grow more self-reliant, creative, and resourceful as you learn to make