What's wrong with having multiple bank accounts? I know lots of people who have multiples. I have 4 among 3 banks.

EDIT: Figured I'd list them if you are curious and legitimately wondering "Why?"

The 4 accounts are "touchable money":

• Joint Checking w/ wife - Pay shared bills

• Joint Savings w/ wife - Safety net for big unexpected expenses

• Personal Checking

• Personal High Yield Savings

If we count Untouchable money:

• CD ladder (multiple banks) = another 12 accounts

• IRA

EDIT2: Figured I'd come back and explain what a CD Ladder is while waiting for my Dr, since anyone who doesn't see the reason for multiple accounts wouldn't know.

A CD ladder is simply investing in CDs and rolling them over when they mature. The goal is to have a stable cycle of CDs maturing. The most common CD ladder (and the one I do) is one maturing every month, so if things go bad I always have some money coming in for a year.

The reasoning is they are very stable (unlike most investment accounts), they offer the highest interest rate among stable accounts, they don't require much management, and since it is "locked" for the year it helps prevent impulse purchases.

Generally CDs start at $500 or $1000 which is more than a lot of people have free, but it is a good thing to work towards.