Homeowners, Better Manage Your Money With These Bank Accounts

The Thought Card

Jul 7 2022 • 17 mins


Are you ready to buy a house? I’ve teamed up with Citizens Bank for a two-part homeownership series. In Episode 103, we discussed the pros and cons of the most common types of mortgages and how your mortgage can have long-term effects on your finances. In this episode, I unpack why having multiple bank accounts as a homeowner is crucial for better money management and the three bank accounts I recommend.

Disclaimer: This episode is part of a paid partnership between Citizens and The Thought Card Podcast. Any views expressed are not necessarily those of Citizens, and any other products mentioned are not endorsed or sponsored by Citizens. Mortgages are offered and originated by Citizens Bank NA NMLSID #433960. All accounts, loans, and services are subject to individual approval. Equal housing lender.

In this episode, we cover:

  • [2:34] Benefits of having multiple bank accounts as homeowners
  • [5:56] What is a mortgage fund?
  • [9:41] What is a home emergency fund or home maintenance fund?
    • Types of home maintenance repairs
  • [8:04] What is a home renovation fund?
  • [10:47] How we plan for home renovations

About Citizen Bank

Check out Citizens Ready to Buy a Home Hub, where you can access helpful articles and checklists, explore mortgage options and learn strategies for funding home repairs or home improvement projects. Such as 21 Unexpected or Hidden Costs of Buying a Home which details the common expenses homeowners forget about.

Citizens Ready to Buy a Home Hub also has informative videos that highlight mortgage myths and what comes next in the process after you’ve been pre-approved for a mortgage.

To ease your homeownership experience, Citizens offers resources and tools to help you feel more confident from application to move-in and beyond. Citizens has a 4.96 rating on Zillow and over 2,000 reviews you can browse through.

If you enjoy this show, please consider leaving me a tip by buying me a coffee. With your support, I look forward to continuing to bring you informative personal finance and travel content every other week.

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