Does anyone else have multiple savings accounts? I’ve found that having accounts for different purposes has been the best way for me to keep track of the money I’m saving. Plus, it keeps me a whole lot more motivated. Right now, I have one savings account that’s a Christmas fund, another one that’s a travel fund, and another one that’s currently being used to save for my maternity leave. I love being able to transfer money into each of these accounts at the end of the month, and watching each of those virtual piles of cash grow over time! I’d love to hear how you guys save for specific occasions and whether or not you’ve found multiple savings accounts to be helpful! Come on, I can’t be the only crazy one!
I have never done this – for me, it would just be too much to manage. Although, I have been tempted many times to set up a Christmas account. If I were to set up a separate savings account it would be for the holidays.