How Many Bank Accounts Do I Really Need?

Video quality	The size	Download

Information How Many Bank Accounts Do I Really Need?

Title	:	How Many Bank Accounts Do I Really Need?
Lasting	:	5.24
Date of publication	:
Views	:	199 rb

I’m not married nor have I ever been Basically I have the same setup being single except separate spouse spending allowance But if I were married I would run my banking accounts as so:brbr1 Main Checking all income deposited to pay all joint bills like rent, mortgage, utilities, food etcbr2 Husband checking allowance spending example $500/mbr3 Wife checking allowance spending example $500/mbr4 Emergency Savings account 3-6 month living expensesbr5 Escrow savings for quarterly, semi-annual, or annual bills such as auto insurance, home insurance, property taxes, HOA dues, annual subscriptions, etc
Comment from : @famousamos1

We have a lot for our savings, insurance, car, insurance etc
Comment from : @kckuc310

I just turned 50, and I'm honestly feeling overwhelmed about retirement I have a little over £300k saved, but with inflation and the rising cost of living, I’m starting to wonder what kind of retirement I can actually afford I don’t want to end up outliving my savings
Comment from : @Abdulkazeem177

Never ever combine, look at the Steve Harvey bank accounts idea for couples
Comment from : @Realswagoverlord

What’s a good joint checking account for my wife and I ?
Comment from : @zulu3779

Gaaaame
Comment from : @wayside1723

When he says create a sub account in the EveryDollar app what does he mean by a sub account Is he talking about the Funds tool on EveryDollar?
Comment from : @lilkieahmassaline721

This is NOT the Best advice 💯 first thing first multiple accounts can be a great game plan in saving & having Everything Joint is insane I believe in one joint account & the rest individual so everyone is safe at the end of the day 💯✔️
Comment from : @LORDRecords

Two separate banks for me I got my main account and I got my online account that I use for storing card information If there's ever a data leak there's never that much funds on it to do any real damage
Comment from : @portman8909

nice
Comment from : @BankBuddyIndia

Bank Account Bonuses are real,I'm looking to make 8k this year cause they pay you for signing up,not for being loyal
Comment from : @amercyreceived

I think there should be at least 3 accounts Mine, Hers, and Joint The two personal chequing accounts would have an agreed upon each month
Comment from : @BBC600

You need a bank account your wife doesn’t know about 😂
Comment from : @bradyhack2428

Why keep all eggs in one basket? I think it would be smarter to have multiple bank accounts at different banks and diversify the risk of bank failure Banks do fail and lose customer funds, it happened in the past and will happen in the future
Comment from : @andriusbagdonavicius4686

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money I started investing with $150k and in the first 2 months, my portfolio was reading $274,800 Crazy right!, I decided to reinvest my profit and get more interesting For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family
Comment from : @lennoxmutterick6434

Wish I could dump money, it's more of a trickle 😅
Comment from : @patresaplus3274

I personally have my checking in one bank and savings in another, that way I can’t electronically switch money over
Comment from : @sheldon7575

We have different bank accounts (at the same institution) for different things I have a house payment account, a utilities account, a spending account, a grocery account, etc but all at the same institution with the same web view
Comment from : @calebdoner

Thank you the Ramsey Show for your good advice
Comment from : @hsahil_10

So when the bank fails as banks sometimes do…all of your wealth is gone These guys don’t have a clue if this is the advice they’re giving Think ‘Simple’ 😢 Marriage is by no way simple especially if things go wrong…and that’s usually for the man My advice would be to plan for all outcomes, even the ones you can’t bare to think about
Comment from : @tyreeceuk

I have two, one I inherited bsigh/b
Comment from : @yxmichaelxyyxmichaelxy3074

Can u trust an online high yielding accoubt
Comment from : @jenniferevans5973

What is a sub account?
Comment from : @Patrick-uu5xg

Never put all of your eggs in one basket
Comment from : @ChaseDizzie

Shouldn't it be as many as it takes to not exceed the FDIC insured amount?
Comment from : @cl5193

One of my mother's coworkers got screwed by only having her money in one bank The bank was bought by a larger bank and somehow during the merger they lost all her money Took months to fix it
Comment from : @sprint7412

I think it’s a good idea to have a bank out with two different banks Especially if you travel internationally I was once traveling and only had my one debit card and the atm sucked it up into the machine I couldn’t get it back and had no money so I had to have a family member wire me money until I traveled back home It was a huge hassle and also dumb to have so much cash on me in Central America After that I got another bank account and have a credit card as back up just in case
Comment from : @taylorlangley900

What online savings account you recommend?
Comment from : @Force_Wielder

these 12 year old clowns give worse advice than ramsey does than again his audience wouldnt know the difference
Comment from : @The_Turd_Ferguson

Man i remebet when i married my wife My inlaws were PISSED that my wife and i joined bank accounts and phone plans
Comment from : @Self_sufficient_

Fake Caller!
Comment from : @ls8904

Sofi has nice virtual savings accounts (vault) which looks like separate account, but it is not I have it like just savings, car insurance vault, tires vaults etc
Comment from : @MariuszChr

Look into Sofi! Online banking checking & saving account br(Cool thing about it is under saving you can make up to “20 different buckets” to separate your savings for a “car” “emergency fund” “house” etc … and it’s high yield per year!
Comment from : @Aaron-o8i8y

How do you get paid at ramsey solutions
Comment from : @DuncanCalder

1 APY on a savings account is abysmal these days A money guy should not think that's "crushing the game" Yet more proof of Ramsey and his team being out of touch I've been making well over 4 since long before they posted this video
Comment from : @ccb6013

They never answered the question that the caller had asked They were looking for a number, not what the hosts did or did not do for themselves Tip #1: If people call for advice, answer the question, please Your local bank advisor can be a better to help you than this
Comment from : @mitchelljamison4779

OK is it OK to have multiple prepaid debit cards plus a bank debit card and for people with disabilities is it OK to invest😊
Comment from : @josiebreasbois2246

Excellent tips!!
Comment from : @amybouchard

Ally offers buckets within one savings account
Comment from : @ronnieadrian9843

A joint account comes in handy for gift/money transfers between spouses and for depositing a check written to both spouses
Comment from : @drmitofit2673

I have exactly the same with our account, John We have lots of sun accounts in our main account
Comment from : @angelwings1

how do I close all my bank accounts
Comment from : @jerrysu3466

Only reason I bank with multiple banks is they charge interest over savings above a certain amount By splitting it, I don’t have to pay interest for savings I know in the us you don’t pay interest yet but in Europe it’s real!!
Comment from : @markspark7347

Don't put all your eggs in one basket
Comment from : @lilbill4779

This was a really interesting video overall Not sure this had been addressed before!brbrWith all that said, I’m curious if different Ramsey personalities would have differing approaches, as I can see multiple ways to skin this cat
Comment from : @tomasmontilla

Ho! "A lagging fund because the way we get paid here at Ramsey's solution so I will dump💲into that one and hold it so I can continue to pay my house off" Whass up wit dat?😕
Comment from : @evalina98000

I have a savings account just for real estate payments, we have two That way I can set those dollars aside throughout the month and it is automatically deducted from that account every month It keeps me from needing to do much math
Comment from : @tmusa2002

I can relate I have 10 accounts and I closed six coz it’s hard to know how much is my money
Comment from : @rinaandalex10

My online bank has buckets for the savings account so I can sort out my stuff 👍
Comment from : @deepthinkerpoet

Not trying to be smarty pants, but just two accounts will do One is saving and one is checking DONE!
Comment from : @mlovespring7892

One checking account for day-to-day spending One saving account with a small, but better return, for emergency cash and renovation savings
Comment from : @paulkatz2483

My wife has a background in accounting We manage everything with a bookkeeping book brbrIt would stress me out to have bank accounts all over the place
Comment from : @J0hnR

The big reset is coming, beware of banks
Comment from : @mreightytwenty8709

For the financial planner pick the one that you understand and has the best advice
Comment from : @donnamoore4494

Never ever share bank accounts and tell the spouse how much money you have Everyone should have their own bank accounts even if married So many golddiggers nowadays that just want your money and will divorce you once it runs out
Comment from : @anthonyharris6881

So why have many different accounts vs keeping track of what goes for what in Every dollar?
Comment from : @mathmanell

Never even put all your eggs in one basketBANKdon't trust banks
Comment from : @mreightytwenty8709

🤓👍✌👌🖖😎
Comment from : @johnmirbach2338

Dude sounds like kermit the frog
Comment from : @ImOutaTime

You NEED one bank accountbrbrThere can be justification for over 100 accounts
Comment from : @fhuber7507

You need one bank One that you trust
Comment from : @righand

We have separate checking accounts and one shared savings We like it that way, because our individuel checking accounts are essentially drop boxes for our paychecks I think it's nice to keep individuel checkings, because you can still pull of a surprise for the other spouse without them knowing right away 😉
Comment from : @kara2162

Australia may do banking entirely different to America, but here some home loans offer multiple “offset” accounts with no fees with your home loan We have a few checking accounts (Bills, emergency fund, daily expenses, kids accounts, splurge etc) however every dollar in every account is linked to our Home Loan so we get a huge interest saving each month for the cash we keep Rather than earning 025 we instead can save 2-3 on the loan charge You’re mathematically about 10x better off and (in Australia at least), you pay tax on interest earned in a savings but don’t pay any tax from saving money on interest charges I’d only recommend this if it comes with no annual or monthly fees, but if it’s available to you it’s worth checking out ☺️
Comment from : @alisharogers2919

Well? U need a Christmas account; savings account; health savings account, to pay deductible or remaining balance left; grocery account; brWe all need to budgetbrIn a business? It needs it's own account Separated from your personal And possibly an expense only account
Comment from : @timothyleary6366

vacation
Comment from : @rebeccaramirez-

Get more money and assets than those in this comment section and understand everyone is wrong
Comment from : @d1ddyp0p

All you need: br1Checking account to pay billsbr2Savings account for emergency fundbr3Brokerage account for investments/retirementbr4Crypto exchange account or hard wallet for speculative assets
Comment from : @tangibletyler5401

Everyone’s device will be a bank in the future
Comment from : @coldflu

With online accounts today it really doesn't matter much if you have multiple accounts (no running around to multiple banks) Assuming none of them charges a fee
Comment from : @stevenporter863

Zerobr“Bail in laws”
Comment from : @fredsanford1437

Ok clark ken relax😂💪
Comment from : @SubToRandomVideos101

One checking account for all household income One checking account for each person in the household for their spending money One savings account for short term needs and emergency fund If you're saving for a down payment to be used in the next 12 months, you'd put it in the savings accountbrbrOne individual investment account for long term savings One investment account for each retirement account and health savings account provided by an employerbrbrWhen the kids are old enough, they need savings and an individual investment account as well to save for college or a house or a business when they're old enough
Comment from : @bkucenski

The caller should have at least three accounts One is the shared account with the wife One is her account And one for the mistress or to save up for the impending divorce lawyer 😉
Comment from : @tcgtpl

One checking, one savings, simple
Comment from : @zachdarr7605

My parents were Depression kids so they had their money in banks ball over town/b it was really fun trying to straighten all that out when one had passed and the other had dementia!
Comment from : @MariaInIowa

Don’t do this if you live in the UK if you have over £85k cash You are only covered up to £85k in each account Be careful though some banks are owned by other banks so make sure your bank accounts are rivals
Comment from : @myleshamilton6342