Simplify

How many bank accounts and credit cards do you have?

This is a massive topic, but let's try and simplify it all.

If you're married, then you need one joint checking account and one, non rrsp, savings account.

You need one, yes just one, credit card. No Sears card, No Canadian Tire card, just one.

On the bandwagon again, Presidents Choice offer a no fee checking account, that's absolutely no fee (at the moment) for transactions, withdrawals, deposits, atm (at CIBC machines), interac payments and transfers. In addition, printed checks are always free.

They also offer a high interest (currently 4%) savings account, with access to your money within 24 hours via transfer to your checking account on the internet.

It may sound as though the club is affiliated with PC in some way but that's just not true, they just happen to be one retailer who are offering good deals to consumers at the moment, try ING for your banking or mortgage needs and surprise, surprise we've recently heard that even Canadian Tire are stepping into the banking business.

Oh, and back to that single credit card.

Don't use it.