Asking this because of course it is easier to segregate finances by putting your savings and expenses into different account so that you can keep track better. But let's say if I can get 2% with DBS multiplier, doesnt it make more sense to put all my money there so that I can get the best returns?
Yup, I put all my money in my DBS multiplier account like you said! I have a spreadsheet which tracks how much emergency funds and savings i have, so i don't accidentally spend anything.
Yes but it's best to split into :
1) Expenses / Petty cash accounts - For monthly expenses - If you use DBS / POSB then use their normal savings/current account.
2) Savings / Investment acounts - Use DBS Multiplier to get max interest and all your other $ should be here!
The benefits is also fast and easy transfer and easier to keep track all within 1 app and you can sync with Seedly app easily to track expenses by category.
#1 can also be any other banks.
I'd say split if you can, for instance, into a main account, emergency funds and investibles, as there is usally a cap on the max amount eg 50k, 70k that can earn the high interest rates.