6 thoughts on “How I’m Using 5 Bank Accounts to Save More Money in 2020”

  1. Hey there! Thank you for sharing your strategies. My credit is frozen. Will I have to thaw it to open an account with CIT or other online bank?

  2. I don’t understand the credit card rewards system you are using? I don’t know how that really helps. I pay my credit card off every month and spend the reward points on a once or twice a year vacation to pay for the hotel. I have never been disappointed with my stays. Is this just another way to save money? I already save $850 a month and can’t afford to save anymore. And I also have two savings accounts traditional and on-line. Love the higher rate the on-line is paying and that is my long term savings. So what else can I do to increase rewards or money. Thanks

  3. Hi Michael – I really like your blog and youtube videos. I found the Mortgage, Southwest tips and Xfinity mobile really helpful.

    FYI – I have a couple of tips that have worked for me that you may want to check out. For savings I use a High Yield Muncipal Mutual Fund. Although it says high yield, muncipal high yield and corporate high yield are two different things. Municipal high yield isn’t junk bonds, it is toll roads bridges, water utilities etc. so not very risky and it has a stable NAV price and pays ~36 to 45 dollars a month. You can have the money ACH’d to your checking account at any time. There is an initial sales load for A shares, and none for C shares. The fund that I use is currently on limited offering, but, when it opens back up you may want to check it out. Once you are in the fund you can add at any time even if it is on limited offering. Also, if you live in a zero income tax state, there are no taxes other than capital gains.

    Disclaimer: I do work for them in operations, not sales, but I think this is a great deal and would do this even if I didn’t work for them. I stumbled on this by accident.
    https://www.invesco.com/us/financial-products/mutual-funds/product-detail?fundId=30547

  4. FYI – the 36 to 45 dollars a month is based on a 10,000 deposit or investment. if more or less is put in the figure would go up or done

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top