As a mortgage broker, I see a lot of self-employed clients who are looking to manage their finances effectively. One question that often comes up is how many bank accounts a business owner really needs.

In my experience, I've found that three bank accounts are generally all you need as a business owner: a checking account, a savings account, and a business credit card. Here's why:

1. A checking account is essential for managing your everyday expenses. This is where you'll deposit your income and pay your bills, such as rent, utilities, and employee salaries. A checking account is also a great place to keep your business' operating capital, so you have access to the funds you need to run your business smoothly.

2. A savings account is a must for any business owner, as it allows you to set aside money for unexpected expenses, such as equipment repairs or legal fees. It's also a good idea to have a savings account specifically for paying your taxes. This way, you'll have the funds available when it's time to pay your quarterly estimated taxes or your annual tax bill.

3. A business credit card is another important financial tool for any business owner. Not only can it help you manage your expenses and keep track of your spending, but it can also help you earn rewards on your business purchases. Just be sure to pay off your balance in full each month to avoid accumulating high-interest debt.

In summary, a checking account, a savings account, and a business credit card are all you need as a business owner to manage your finances effectively. By using these three accounts, you can ensure that you have access to the funds you need to run your business, save for unexpected expenses, and earn rewards on your business purchases.