How Many Bank Accounts Do You Have?

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What’s Your Take?  How Many Financial Accounts Do You Have?

This week I had a couple of posts on other sites that I wanted to open up for feedback.  You can either send an email (mhforc at gmail dot com) or leave a comment below.  At Bible Money Matters I asked about How Many Financial Accounts Should You Have? In the post I encouraged readers to simplify their finances.

So how many bank and credit card accounts do you have?

Here are my stats (yes, you’ll think I’m a hypocrite, but I do have multiple extenuating circumstances, like living overseas):

Bank Accounts = I have four bank accounts (three different countries).  One account (ING Direct) has four subaccounts.

Credit Cards = I have 3 credit card accounts.  One card gives me 0% foreign exchange fee on my purchases, another offers hotel points, and the third is just part of the family.  Before you think I’m a BIG FAT hypocrite (I don’t mind you thinking I’m a little one) I should let you know that I have made less than five credit card transactions over the last month.  I am a cash guy.

What’s Your Take? Should Parents Have a Financial Double Standard for Sons and Daughters?

Over at Moolanomy I wrote and asked Should Parents Have a Financial Double Standard for Sons and Daughters? What do you think?  Should parents save more for boys or girls?  Interestingly, several people said the bride’s family paying is no longer the norm – is that true in your experiences?

Here is my answer – right now my family is doing the exact same thing for each of our three kids (two girls and a boy).  In the future, I have no problem saving more for one or the other if there is a legitimate need.

I am Now Writing at ChristianPF:

For at least the next couple of months you will be able to read one of my articles that will be published at Christianpf.  This is in addition to my ongoing work at both Moolanomy and Bible Money Matters.

Check out my post from this week: 4 Steps to Help you Spend Your Money Wisely

Five Great Articles From the Week

Bargaineering had an interesting post that shared some stats on the average American household credit card debt.  As you are introduced to the Joneses in this post, ask yourself if you really want to be like them or if you would rather fall behind.

Have you made some extra money in 2009?  Moolanomy has a post that details what income is taxable and how you need to file.  Just remember if you have earned extra money you do need to be prepared to pay taxes (is that a surprise to anyone?).

The Oblivious Investor introduces some of the best low cost ETF’s.  In the post there is also a link to the best low cost index funds.  If you are an index fund or ETF investor, make sure you are not paying too much for fees.

Debt Free Adventure discusses Discretionary Spending and the Spending Journal. Keeping track of everything you spend is definitely a must.

The Simple Dollar discussed a lot of issues related to ethics and frugality.

More of MH4C Around the Web:

This week I wrote an article for Adam Faughn to include on his blog.  The article focuses on The Church and Money.

Carnivals:

Once again I am happy to announce that I had an article selected for the Best of Money Carnival.  My article  How to Avoid the Restaurant to Save Money was included.  I have added a list in of my winning articles in the footer (below) in case you are interested in reading my previous winning articles.

Festival of Frugality

Carnival of Pecuniary Delights

Comments

  1. Amy says

    In answer to the daughters/sons question, my parents began tracking the amount of money they have given each of us since we left for university. They have given generously but according to our needs. They paid for my wedding and one of my brothers’ weddings, but my other sister-in-law’s family paid for the third. They have bailed us out on various dept situations, helped with tuition, put money toward cars, ect. The point in tracking it is to make it all come out even in the end. When we bought our house we had received less than either of my brothers. My parents levelled the playing field by making a contribution toward our down payment. Knowing that they are being even handed with us helps me to not harbour any bitterness when my brothers are helped and I am not. It also removes guilt when I am being helped.

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