Savings accounts for different purposes

A bank can attached more than one savings account to one current account and open more than one standing order. 

Thus, why not have one savings account as a reserve for more short term plans and expenditures like holidays, dental costs, Christmas gifts or other yearly recurring expenses and different savings account to accumulate wealth for those medium to long run goals, like renovations on the house, a dream car, once pension, the education of the children. 

Tip

Generally, your online banking service allows you to label your different accounts. These account names make it even easier for you to distinguish between your different savings accounts.

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