Between my business and personal accounts, I have financial relationships with seven (7!) different financial institutions. That seems like an obscenely high number, but truthfully each one serves a purpose in my financial blueprint. Some people manage all their money out of one chequing account, but they miss out on rewards for their spending and returns on their savings. Others split their efforts over a dozen (or two) different accounts, but end up paying tons of fees and never earning enough rewards to do anything. Finding the right balance for you depends on what you’re trying to achieve with your money, but here’s my list of the five must-have bank accounts to manage all your daily expenses and long-term goals. 1. A no-fee chequing account for day-to-day banking If your bank is charging you any fees whatsoever to access your own money, ditch them and switch to someone who isn’t. […]
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