How Many Savings Accounts Do You Have?

How Many Savings Accounts Do You Have?

Emerging from the recession, it's clear that most of us have learned a valuable lesson — it pays big to save, and save big where you can. With tools like Mint.com it's easier than it used to be to save and manage our money, watching our paychecks grow into savings.

We're less prone to impulse purchases, which often means we've got more than just long-term savings goals. For a lot of us we're managing our savings to allocate to big purchases, like vacations and, for some, weddings. To help accommodate multiple savings plans, more banks and online services are rolling out management tools and features to manage multiple savings accounts. Are you already taking advantage of these kinds of services? Tell me, does having more than one savings goal mean you have multiple savings accounts?

I have two savings accounts. One is a tax-free savings account that the Canadian government allows us to put up to 10 000$ in without being taxed on the interest. Every year it goes up by 5 000$ so on January 1, 2011 I'll be able to contribute another 5 000$. My other savings account is just the rest of my savings. Both of these accounts are with ING Direct.

i have three regular savings accounts. one was opened with my dad when i was a kid and one is linked to my checking for overdraft (i had to get it even though i had an existing savings account with the bank). the other is for serious saving (so i can get the hell out of my parents' house) since ing direct offers a much higher interest rate (although it's been falling ever since i opened it). i also have a roth ira since i'm not eligible for a retirement account through my employer yet.