Where Should I Keep My Money?

Additional Bank

Using an additional bank is not a bad idea if you don’t want to keep your money all in one place. Some people believe they must stick with one bank to keep their money in savings, CDs, and other accounts if they use that bank for their checking account, but it’s simply not the case. It may take a little more effort, time, and energy to take your money elsewhere, but there is nothing wrong with using multiple banks to service your money. You can use checking with a bank online, savings with a CD in another bank, and even use cashback for your expenses through yet another bank. You get to make these choices to benefit you and your finances, and using only one bank is never a requirement. Use as many as you want, but be careful to keep track of your money so you’re aware of what it’s doing every day.