At the moment I have five accounts:
1. My main current account into which my salary is paid and bills are paid out of.
2. A second current account for tiny sums I get occasionally for freelance art/design work.
3. A holiday savings account (B of I SuperSaver).
4. A credit union account—rainy day funds.
5. An instalment savings account with An Post. This holds my potential mortgage deposit.
I find this one really confusing as the money is first paid into Savings Certificates, which are paid into the savings account every six months and then transferred to an interest-bearing account. Plus, they don't issue statements very often.
Would I be better off just putting this money into the bank?
I'm wondering if it would be a better idea to consolidate the first three into one current account. My fear is that I'll spend the holiday and 'business' funds if I have ready access to them. Then again, I've started doing serious budgeting every month, so I'm less likely to misbehave.
What do you think?
1. My main current account into which my salary is paid and bills are paid out of.
2. A second current account for tiny sums I get occasionally for freelance art/design work.
3. A holiday savings account (B of I SuperSaver).
4. A credit union account—rainy day funds.
5. An instalment savings account with An Post. This holds my potential mortgage deposit.
I find this one really confusing as the money is first paid into Savings Certificates, which are paid into the savings account every six months and then transferred to an interest-bearing account. Plus, they don't issue statements very often.
Would I be better off just putting this money into the bank?
I'm wondering if it would be a better idea to consolidate the first three into one current account. My fear is that I'll spend the holiday and 'business' funds if I have ready access to them. Then again, I've started doing serious budgeting every month, so I'm less likely to misbehave.
What do you think?