2335: How Many Savings Accounts Should I Have? by Christine Luken on Putting Your Money Away

Optimal Finance Daily - Financial Independence and Money Advice

Optimal Living Daily LLC

Investing, Business, Education, Self-improvement

4.4 • 1.3K Ratings

🗓️ 8 June 2023

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

Christine Luken talks about how many savings accounts you should have Episode 2335: How Many Savings Accounts Should I Have? by Christine Luken on Putting Your Money Away Ready to master your money and become a financial success? Then you need Christine Luken, the Financial Dignity® coach in your corner! As the Founder of the Financial Dignity® Movement & a Certified Financial Counselor, Christine has coached hundreds of high earning professionals to pay off staggering amounts of debt and massively increase their net worth over the past twelve years. Christine’s books, Money is Emotional: Prevent Your Heart from Hijacking Your Wallet & Manage Money Like a Boss: A Financial Guide for Creative Entrepreneurs, have landed her almost 100 podcast and TV interviews, establishing her as the authority on money and emotions. The original post is located here: https://www.christineluken.com/how-many-savings-accounts/ Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Optimal Finance Daily, Episode 2335.
0:04.7	How many savings accounts should I have?
0:07.0	By Christine Luchin of ChristineLuchin.com.
0:10.6	And I'm your host and personal finance enthusiast, Diana Mariam.
0:14.7	Thank you so much for joining today and every day, where I serenade you with the sweet
0:19.1	sounds of personal finance knowledge from the best money blogs on the planet, with the
0:23.9	author's permission of course.
0:26.1	So with that, let's jump into another post and start optimizing your life.
0:34.7	How many savings accounts should I have?
0:37.0	By ChristineLuchin of ChristineLuchin.com.
0:41.6	How many savings accounts should I have?
0:44.0	It's a question I get asked quite frequently.
0:47.1	Some money gurus advocate for just one account, and others say you should have an account
0:51.2	for every savings goal.
0:53.3	I feel somewhere in the middle of these extremes.
0:56.2	Here's my short answer.
0:57.8	You should have at least two, and if you're self-employed, you should have at least three.
1:02.5	How many savings accounts should I have if I work a traditional job?
1:06.8	I advise my traditionally employed and retired clients to have at least two savings accounts,
1:12.6	one for emergencies and one for purchases.
1:15.5	Your emergency savings account needs to be separate.
1:18.6	Why?
	...

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