One of the things that each and every person should know is how to manage finances. Admittedly, i have failed in this, but learning how to be well.  With the help of financial advisors, i have become aware that it is very important to have some kind of financial literacy exposure.   As one successful businessman told me, it’s not how much you make, it’s how much you save.

 There are a lot of ways to save money and one good way is to track spending. For example, maintaining several checking accounts can make one lose track of expenses, same goes when you have multiple credit cards where spending limits are not controlled.  That’s why it is good to converge accounts into just one for bank and credit cards, this way, you can closely monitor what goes in and out. 

 I am not saying that one should have only one bank account, it is better to have several accounts where you have one allocated for different purposes, like you have a savings account where you put only your spending money good for three months like an ATM account, then another for checking-to be able to issue checks and the rest for long term savings.

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