Mark Kocher argues that multiple bank accounts work like drawers in a bedroom: separate accounts for savings, bills, and spending make your money easier to find and control, giving you more financial freedom than keeping everything in one place.
I don't want you to have one bank account in your life. Wouldn't it seem easy if in my bedroom I didn't have chest of drawers or cabinets or any sort of armoire? I just could walk into my room and just throw my clothes on the floor. Wouldn't that sound great? But guess what? Those drawers, those cabinets, that armoire set you free because when you need to find your socks, you go to your sock drawer. When you need underwear, you go to your underwear drawer. When you need a T shirt, you go to your T shirt drawer. By having more drawers and cabinets, you make your life easier. And we grow up realizing that furniture in a bedroom is a good idea. Be bank accounts are the same way.
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