Daily Juice – How many accounts do I need

How many accounts do I need?

Daily Juice – How many accounts do I need

Welcome to the Daily Juice Show, where we discuss just one “ingredient” of the complex money topics you face.

Very frequently I get a question from my clients about how many accounts they need to have? Checking, Savings, Online Savings, Money Market, Credit cards, etc. There is no right or wrong answers, it’s really what works for you.

However, I like the idea of having a system of where each account I have serves a purpose and works for me. My husband likes simplicity. With that in mind I built a Money Flow System that works for us. Let me give you an idea of our Money Flow System:

  • 2 checking accounts, (one to pay Fixed expenses, another to pay Variable)
  • online savings account (for emergencies- Curveball account)
  • ”Family” credit card (which we can use for large purchases)


Our paychecks automatically split and get deposited into our two checking accounts. Fixed expenses are all on autopilot for payments and get paid by the 15th of the month. We only have to manage our Variable account and credit card.

Until next time, remember: It’s your money, and your future wealth, just one sip at a time.

Anna Sergunina
Anna Sergunina

I'm Anna Sergunina, CFP®, President & CEO at MainStreet Financial Planning, Inc. My passion lies in serving others through financial planning, helping clients achieve their dreams like buying a home, saving for education, or retiring early. With over two decades in the industry and a CFP designation since 2009, I'm dedicated to excellence and continuous growth. Beyond work, I cherish moments with my son Liam, prioritize self-care, and engage in content creation for my Money Boss Parent Podcast and Money Library blog.

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