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Is it bad to open multiple savings accounts?

April 26, 2017bad Banking Finance savings accounts

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Is it bad to open multiple savings accounts?

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The FDIC only covers up to $100,000 so many people open multiple savings to make sure they are fully covered. I have multiple savings accounts because I put my money where it will earn the most interest, and also to keep different savings separate. I have a car saving account to buy a new car next year, a Christmas savings account to keep the money I will be giving out for presents, and a house repair account.