Envelope system for savings?
Wondering if anyone uses an envelope system for savings, but with actual savings accounts? There are tons of things I want to save for (kids college x3, next car, car repairs, home repairs, land up north, health fund, etc) but I don't that amount of cash sitting in a safe. I want to do it by savings accounts, but I would prefer all individual accounts like an envelope system.
Can you even open this many accounts? I would like to have them all hooked up to my checking for easy cash flow dividing. Right now we have one hooked up to our checking that is our EF and home down payment nest egg. We also have another at a credit union for Christmas, and another at another credit union for 3-6 months our income.
Let me know what works for you. I would feel kinda embarrassed I feel wanting to open a bunch more savings accounts. Does anyone else do this and how does it work for you?