How do you manage your bank accounts? Do you keep your money in one or two accounts or segregate them based on different goals?

• 10K in Singlife account 2.5%
• Rest of my savings in Standard Chartered JumpStart 1%
• DBS for expenses, salary crediting & online purchases

So every month, I will put in the amount of money I can spend into my DBS MasterCard, I use it for meals/grocery/online shopping! :)

While the other 2 cards are just to save $!!

It depends on whether you can manage your expenses. If you can't, it would be better to have a seperate account for expenses.

For me, I can manage my expenses very well since I'm a low spender. So my expenses and savings are put together in one account.

1. DBS Multiplier - Salary crediting + Expenses + Savings

2. SCB JumpStart - Emergency funds

3. OCBC 360 - Kinda not in use now (Opened as a FRANK account during poly days. After I started working, OCBC converted my account to 360, providing an option to opt out as well.)

I have separate accounts to segregate them so I won’t mix my spending and savings account and I won’t have the urge to spend more than what’s in my spending account.

When my income comes in, I like to pay myself first and I find it very useful. So after I pay all my bills, I will set aside around 40-50% to savings (some % goes to DCA in ETFs) and the remaining are left to spend.

1) POSB savings account (Expenses)
2) Standard Chartered JumpStart 1% (Savings)
3) SingLife 2.5% (Savings)

Since I'm still a full-time student and not working part-time unless its school holidays, I have 2 accounts for now.

1. Standard Chartered Jumpstart (1%, was 2% before covid-19) for savings

2. OCBC Frank Account for expenses

Since its still HBL now, I don't spend much since I'm mostly at home so i capped my spendings account to $100+ and transferred the excess to Standard Chartered account. If there's any part-time job payments, it'll be deposited to OCBC account then I'll transfer the necessary amount to SC Jumpstart to avoid confusion. I restricted SC Jumpstart with a "money in only, no money out" policy unless there is a fixed deposit with a higher interest rate than the 1% Jumpstart is giving.​​​