And the major pain in the butt it takes to get there.
In my life before being a personal finance blogger, I had one brick and mortar bank account that I opened when I started college, an online bank that held 99% of my money, a single savings account and two credit cards – the first card I ever opened and a rewards card. I also had an IRA.
This was pretty easy to keep track of.
These days I have a dozen credit cards, half a dozen bank accounts and 4 different investment firm accounts.
It’s a bit much. And by a bit much I mean completely overwhelming at times. Many of those things were conscious choices to churn the heck out of some rewards, but I’ve been more and more interested in cutting back to a more tolerable quantity of things to keep track of.
So today I’m crowd sourcing a little – what are your favorite banks? I’m currently torn between keeping TD Bank as a backup, just in case I need to be able to walk into a building and get something bank, and then either Ally or Barclays as my main bank. Ally has been my bank for about 7 years and I really love them, but I’ve got most of my savings accounts over at Barclays and they make it extremely easy to split my savings into different goals and keep track that way. I’m not sure I can give that up.
As for investments, my IRA is over at Fidelity, so I think I’m going to transfer all of my stocks over to them – anyone have any bad experiences with this before that I should be aware of? I also bulk buy stocks only when I have more than $1,000 to invest, so if their trading fee is slightly higher than ShareBuilder, I can still live with it.
Has anyone else really pared down their accounts before? Is there a great bank I’m overlooking that I should consider instead?