Sunday, June 26, 2011

Too many accounts

Over the years, I've opened various accounts for different reasons and now it seems like I have too many to keep track of. Just the shear number of statements a month is overwhelming. A majority of the time, I don't even open the statements until months later. I usually just accumulate a pile of envelopes and then go through everything at once. All my bills are paid automatically, so it's not pressing to open the statements. The only reason to check the statements are for errors.

Here's what I have:
  • 1 mortgage account
  • 1 heloc account
  • 7 credit cards
  • 5 bank accounts (includes savings and checking)
  • 2 stock trading accounts
  • 1 employee stock purchase plan account
  • 1 roth ira
  • 1 rollover ira
  • 2 401k accounts
  • 2 HSA
  • 1 Cellphone
  • 1 Cable
  • 1 Water
  • 1 Electricity
I think I'm going to try to reduce the number of redundant accounts. I don't think I need so many bank accounts and I think I can cut down the number of credit cards (Each credit card has a different rewards program, which is why I have so many. I actually do use most (5 or 6) of them each month).

I currently use yodlee.com which gives me a snapshot of everything, but it's all the physical mail that's a pain to deal with.

How many accounts do you have and how do you deal with them all.

3 Comments:

Blogger Ali said...

these cards are burden, they just suck blood from us. get rid ASAP of plastic money..........


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1:16 AM  
Anonymous taxi gatwick said...

these accounts are huge, I just signed off my previous bank account as I got another one which was more feasible to me........!!




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1:20 AM  
Blogger Michelle said...

Sometimes you're better off concentrating all of your spending on one or two credit cards if you're accumulating rewards points.

As far as your frustrations with all the mail statements, you should check with your providers, often you can opt to recieve your statements electronically.

Good luck!

11:33 AM  

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