03. april 2020

Bank like a pro with multiple accounts

It pays off to get three bank accounts to manage your personal finances. Get inside tips from a real pro - Lunar’s head of credit - and the neatest way to organise your accounts.

We all know the type: That person who’s just always on top of spending and who can always afford bigger purchases and impulsive getaways.

With both envy and insight enough to know you’ll never (want to) be that person, we’ve found a real pro to share the best tips for organising one's personal finances.

Lunar’s head of credit, Mette Ahlén Meldgaard, says three accounts is the magic number for being on top. She’s been both a financial advisor and heading a brick and mortar bank branch before going digital and joining Lunar. So she has seen thousands of budgets, overdrafts, fails and best-in-class examples. 

If you want three bank accounts to manage your personal finances you can upgrade to Lunar Premium. You’ll also save money on fees and spending abroad, get virtual cards and a first class travel insurance. Get the app here

First step: Current account 

Your first account should be a current account/checking account/salary account. That basically means: The account to which your salary gets credited.


It’s a good idea to connect your public Nemkonto to make sure all public payments get transferred to your current account. A lot of companies also pay salary to your Nemkonto.


From your current account you can control your spending - all those things that are not fixed expenses (we’ll tell more about those under budget account!).

You will need a full overview of your spend. If you tap “Spend” in the Lunar app you can see it all divided into categories. Like groceries, entertainment, personal care and more. 

The really clever thing is that you can do an interactive budget directly in the app and set a limit to your spending. Like “food and drinks” at max DKK 2000 a month. 


A smart choice is to allow Lunar to send notifications. That way you’ll a message every time you use the card. In you have a dinner out and pay DKK 1000 you’ll get a notification that you’ve spend half your budget for the month and avoid all unpleasant surprises. 


If you’re a real pro you save all your receipts from your purchases in the app. You just click on the logo from the transaction and attach a picture of your receipt. That way you’ll never lose it if you need to return it.

You get all the interactive spend and budget features in the Lunar app for free. You can also pay a bill just by taking a photo. Try it out! Get the app here.

Your second move: A Budget account

Setting up your budget account you might want to get a spreadsheet in action. It’s crucial that you get a complete overview of your fixed expenses. That can be:

  • Rent
  • Electricity
  • Insurances
  • Union
  • Instalments on loans
  • Transportation

Question: Where do you put subscriptions like streaming services, fitness etc.? Fixed expenses or spend on your current account?

Answer: Personally I have those types of expenses on my current account because they are connected to my card. Hvis you want them as a fixed expense make sure to create a virtual card on the budget account. That way you reduce risk of card fraud which can be really frustrating on your budget account”.

When you have an overview of all your expenses you add them up - some you pay monthly, others quarterly - and divide by 12. If the full amount is DKK 71,600 you have monthly expenses of DKK 5,966 and need to set up a monthly transfer of that amount from your current account. 

That way you can avoid some months being very expensive. But hands off the budget account the months you have a plus!

Final step: Savings account

The third must-have account is the savings account. Set up a recurring transfer from your salary account and make sure it’s not dull so save. In Lunar we love to make it motivational to save and you can create your own personal Goals, choose a picture of what you dream of and save for and make saving rules. That way it’s almost addictive to save up.

Mette Ahlén Meldgaard has 10 (!) separate savings on her account, but less will do. Some inspiration for a more systematic approach:

  • Incidental expenses (Like bills from the dentist, the fridge stops working and other unforeseen things)
  • Holidays (Both travelling and staying home)
  • Gifts! Birthday and Holidays
  • Surprises for the kids
  • Some extra just for you

It’s always top advice to have a buffer on your savings account if you should lose your job, want to take a leave or need to do a bigger, unplanned purchase. 

Question: Besides from the great overview. Why should I use three accounts for my personal finances?

Answer: If your are on top of your finances you’ll get much better opportunities to reach your goals. Almost everyone need to lend money at some point in time. Maybe for a car, an apartment or something else. If you have overdrafts it can get in the way of getting the best opportunities”.

If you want to bank like a pro and get three account you can upgrade to Lunar Premium. You will also get an exclusive card crammed with features. Get the app here.

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