All my Bank Accounts

Are you familiar with the envelope method?  If not, The envelope method is a budgeting method where you put all your cash in separate envelopes for each need.   

Well, I might do that with bank accounts. I have a bit of a collection.  

But the truth is I need them all! Here's why I have so many bank accounts and what I need them for!

I lost count at seven. And that doesn't include any investment account I own!

How many bank accounts do I have?

My main checking account is for monthly bills. That's where my paycheck gets deposited and where all my bills come out of.

Monthly Bills

I have a separate account for food and fun. I get a small allotment each paycheck that I use to pay for all my food and any extra activites (like eating out, etc.)

Groceries, Food, and Fun

My third checking account is a sinking fund. This is for big purchases I will be making down the line.

Sinking Fund