Banks

I will have 4 bank accounts. This is to divide my resources to important needs. The first is a checking account. This is where all of my spending money will sit. All of my bills, and expenses will draw from this account. Since I will no longer be renting, I won’t be writing checks for rent. I will still use my carry credit card to pay for things, then pay the card off every 1st day of the month. I will have a Money Market account. This account will have checks like a checking account, but limited to 6 withdrawals per month like what you would expect from a savings account. This account will be for my taxes. I will pay my capital gains tax, and property tax with this account. Since I will likely pay my taxes immediately, I will be able to pay off everyone on time even with the 6 check limit. The third account is a savings account for an emergency fund. An emergency fund is just that – emergencies. Since emergencies are unexpected, they will need to be account for immediately. The last will be a Swiss account. This account is where my investment fund will deposit into. This will assure that my checking account will never have more than $250,000 in it.