Here are some examples of accounts you could have tied to your savings goals:
- Emergency fund savings account
- Giving fund savings account
- Sinking fund savings account
- House down payment savings account
- Savings account for short term goals e.g. vacation, wedding, etc
Assigning a savings account for each goal helps you easily track your progress and to keep the lines clear on what the funds are for.
Additionally, savings accounts come with the added benefit of earning interest. Even though it may just be a small amount, you don’t want to miss out on that perk!
Osterland McCarthy began his own real estate development company Osterland with his friend. In this capacity, he bought and rehabbed investment properties for their own portfolio. Over the last few years, Osterland has developed hundreds of properties in the two cities. He started to help investors who want to own investment properties but want to rely on our experience to execute successful projects.