Chapter 46 ★44 Consolidate your bank accounts

Early on in our Simplify Life movement, I realized my current bank account was just too complicated.I have four or five different bank accounts that I gradually add to each year.One of the accounts is used to pay for family expenses; one is used for business; one is used as life accident reserve; the other is used for investment;A friend of mine who is a bank clerk told me that this kind of situation of opening multiple accounts is very common in today's society.Some are with one bank; others have bank accounts spread across the city.Like many people with multiple accounts, I'm starting to wonder if this is really a convenience?

Multiple accounts will inevitably generate more letters, and in this case, not only will each account have a fixed monthly bill, but each month there will be additional promotional slips, credit card statements and other general correspondence that can be confused of various letters. In terms of running a bank, not only have to deal with the bills of each bank every month, but also have to deal with four to five different check books, and also record the purpose of each account.It has happened several times that I have been overwhelmed by these ledgers and bills. Of course, every time I write a check, I have to make sure that there is enough money in the account to pay, and these things also make my life more complicated.

If, too, you find yourself constantly being plagued by multiple accounts, keeping only one account and canceling the others may make your life a lot easier.If you insist on keeping savings accounts and living reserve accounts, no matter how many different accounts you want to keep, you can refer to my method of simplifying the bill system in the next article.