Using Multiple Bank Accounts: Do they help you get DF?

bitter-roses

My bank (Lloyds TSB) is giving me the option to open a second current account; I went into Internet Banking to see how much money I have to last until payday and there was a link there saying “set up another current account to help manage your money.”

Has anybody else done this? And, if you have, does it make things any easier?

The thing that attracts me about it is the idea that I can keep my direct debits, etc., on my main account and then use the new account to pay for everything else (e.g. grocery shopping, etc.), but I’m not 100% convinced.

What do you guys think?

mummytofour

Its easier to budget that way. As each month you can put aside your bill money and not have to worry that you wont have enough to pay them. Now I just use one main account but my dd are spread out and I check my account at least once a day so I know where things stand! But I did like having a bill account when I needed it, it was useful.

andyd55

I do this, have all my direct debits, morg, bills out of another current account and then everything left in other account is my spending money! I didnt do it clear debts or anything just opened 2 accounts cause they gave me different benefits, free travel insurance etc etc

bitter-roses

I’ve decided to apply for it.

The worst that can happen is the bank won’t let me have it, so I’m not losing anything by trying.

I’ll see what happens.