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Control your finances like a Pro with multiple accounts.
It pays off to get three bank accounts to manage your personal finances. Get inside tips from a real pro - Lunar’s head of credit - and the neatest way to organize your accounts right here
Step 3: Savings account.
The third 'must haveø is your savings account. Set a monthly transfer from your salary account to your savings account, but it can be quite boring - and too tempting - if your money is just sitting there.
Mette Ahlén Meldgaard has 10 accounts or goals on her savings (!), but fewer will also do the trick. With Lunar, it's fun and motivating to save up because you can create a Goal, choose an image, and create a rule for when money should be transferred to the account.
You can almost get addicted to saving up, when you see the visualization of your goal and see it coming closer and closer to being realized.
Mette Ahlén Meldgaard is doing it very systematically has smaller goals herself for:
- Unforeseen expenses (dentists, something breaks, etc.)
- Vacations (She has for sommer, winter, and fall breaks
- Surprises for her children
- Surprises for her husband
All in all, it's good to have a buffer on your savings account so you can survive if you lose your job, take fewer hours at work, become pregnant, or make a large purchase that wasn't planned.
Question: Besides getting an overview, what are the other benefits of controlling my finances on multiple accounts?
Answer: "If you have everything under control it will give you better opportunities for reaching your goals. Even if you have a great savings account, most people will need to loan money at some point in their lives: for a car, a house, or for spending. Here, an overdraft is one of the things that could stop you from getting a good loan. Bad financial management will hurt your credit score. When Lunar needs to evaluate whether or not we can loan you money, we evaluate all of your finances which we use a credit score for. You will get a full insight in that - and how to improve it."
Do you want to control your finances with multiple accounts, and get an app with smart features, and a card filled with benefits? Download the Lunar app here and choose Lunar Premium - or try Lunar for free and get an account and our black Visa card.
Do like 750,000 others, get Lunar now.
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