New Delhi, Aug. 28 -- It is that time of the month for many, especially salaried people, where looking at your wallets and bank accounts will make you cry. Jokes and memes apart, it shows how many people, including those earning well, are broke by the end of the month because they are unable to plan their spendings, often leaving them will little to save. While financial discipline is not something that is achieved overnight, there is always a first step.

Many financial coaches and finfluencers on social media have suggested taking this small step, particularly for those with fixed income, to have multiple bank accounts.

The idea is to split the income, aka salary, as soon as it is credited to multiple accounts. While there is no hard a...