How many accounts do you have? How many differenct banks do you bank at? What about credit cards, loans and investments? Spreading around your business is one thing but it can be tricky to manage. Fewer arrangements and relationships to manage will help to keep your money management simple. Here are some suggestions:

• 2 Major Credit Cards (different companies)
• 2 Bank Accounts: 1 chequing and 1 savings
• 1 ‘Hard to Access’ Savings Account: At a different bank or a money market account (low risk and accessible if you have to)
• Loans and Mortgages: At your main bank
• Investments: At your main bank (until the value warrants an advisor)

Choose your primary bank carefully because although the staff may turnover at an alarming rate, developing a relationship and maintaining a good history with a bank can work well in your favour later on. When it comes time to apply for your first loan or mortgage, they will be able to review your accounts and know how you have handled your affairs. It doesn’t mean you have to go into a branch anymore than you do now and can continue to bank on-line or through ABM’s. The majority of your financial stuff will be in one place and very easy to view on-line!