The number of bank accounts an individual should open depends on their financial goals, income sources, and spending habits. Here’s a practical approach:

1️⃣ Primary Savings Account (Must-Have)

• Used for salary credits, savings, and daily transactions.
• Choose a bank with good digital banking services and low fees.

2️⃣ Secondary Savings Accounts (For Budgeting & Goals)

• Helps separate funds for specific purposes (e.g., travel, emergency fund, investments).
• Can be in a different bank to avoid overspending.

3️⃣ Investment accounts (For Wealth Growth)

• Linked to mutual funds, stock market, or fixed deposits.
• Recommended if you actively invest.

4️⃣ Business or Freelance Accounts (If Self-Employed)

• Keeps personal and business expenses separate.
• Required for tax filing and accounting.

5️⃣ Joint Account (If Needed)

• Useful for couples, aging parents, or dependents.
• Ensures easy fund access for shared expenses.

💡 Best Practice:
✅ 2-3 accounts are sufficient for most individuals.
✅ Avoid multiple accounts unless necessary (to prevent maintenance fees and complexity).