Wednesday, 25 Nov 2009
K.I.S.S. Keep it simple, silly. I decided that our finances have gotten much too complicated as of late. Three checking accounts and five savings accounts are just too much. As as of December 1, it will be bye-bye ING. Though I love them and have been happy with them, there’s no longer the need for them. The joint checking account will be closed and those bills will be paid from one of our credit union accounts. The two savings accounts have already been closed and the money put into the credit union account. So we’ll be down to two checking accounts and three savings accounts – maybe still a bit much, but better.
Next up on the chopping block will be ShareBuilder. As of today, I’ve sold the stock from my brokerage account and the proceeds will be put into my traditional IRA. So that account should be closed by December 1 as well. I’m also strongly considering moving my ShareBuilder Roth IRA to the brokerage where I have my traditional IRA. That will mean one less account to track and easier asset allocation.
How many accounts do you have? Do you think it’s too many? What are you doing to simplify your finances this year?
November 30th, 2009 at 5:03 PM
Noooooooo!!! Why are you getting rid of your ING account. Noooooo!!! I love ING and they are my main bank. (hearts).
I have a Woodforest account since it is in Walmart around the country and I need to get quarters for laundry and have a physical bank to deposit checks so they can get to ING.
I also have Chase (so I am thinking about closing Woodforest since Chase is almost everywhere).
December 4th, 2009 at 1:44 PM
While you are closing an accounts, I’ve been meaning to open and ING. Glad to know that you were happy with them though. I think I will manage my finances better next year by really sticking to a budget!
PJD
I really did love ING, especially the ability to have sub-accounts. I’m somewhat sad to get rid of them but I was getting tired of tracking so many accounts. I’m just going to use my credit union savings account but know that the amount up to $X is for emergency use only, $Y above that is for the car fund, etc. If you’re going to open the Electric Orange checking, let me know because I have referrals to give out (I think you would get $25 and I would get $10).
-MMS