Thursday, September 4, 2008

Is Fourteen Bank Accounts Too Many?


Photo by thinkpanama

Today I sat and wondered where all my money is located. I knew that I had a few bank accounts, but I'd never sat down and figured it all out. The staggering answer was that I currently have 14 open accounts.

American Accounts

Bank of America - 4

Foreign Accounts

Barclays - 1
Abbey National - 1

Online Accounts

E-Trade - 1
ING - 6
Barclays Savings - 1

In fairness, the six ING accounts are targeted savings accounts, and the Bank of America accounts have justifiable reasons. But honestly, that is a lot of different accounts. Of these, I check the Bank of America and ING accounts regularly. The rest sit there. I have absolutely no idea what is in the Abbey National account and I think I have 21p in the Barclays Saving. 

The big question is, why haven't I closed these yet? I know that I could probably get rid of at least two without a problem. 

How many bank accounts do you have? What is an acceptable number? Does anyone have more than me?

As a minor side note, you can now get to my blog through the URL http://distilledrose.net. Much simpler, don't you think?

1 comment:

Scott @ The Passive Dad said...

14 does seem like a lot of accounts, especially if these are just savings accounts. I have 4 and I'd like to consolidate them down to two. It's on my long list of items to accomplish and will probably be something I put off and procrastinate doing.