Comments on: Using Multiple Bank Accounts to Control Your Spending http://www.moneyunder30.com/multiple-bank-accounts-to-control-spending Simple, Honest Financial Advice Thu, 09 Feb 2012 22:53:06 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Lianne @ The Wise Living http://www.moneyunder30.com/multiple-bank-accounts-to-control-spending/comment-page-1#comment-14320 Lianne @ The Wise Living Wed, 23 Nov 2011 23:53:06 +0000 http://www.moneyunder30.com/multiple-bank-accounts-to-control-spending#comment-14320 Wow. Thanks for sharing. Mine is this: 1. Checking account: where my salary is deposited. I use it to pay my bills and such. 2. Online savings account: for my emergency fund. 3. Savings account at another bank: for my nest egg (investments) Maybe I'll open another online savings account for my short-term savings like a vacation. Wow. Thanks for sharing. Mine is this:
1. Checking account: where my salary is deposited. I use it to pay my bills and such.
2. Online savings account: for my emergency fund.
3. Savings account at another bank: for my nest egg (investments)
Maybe I’ll open another online savings account for my short-term savings like a vacation.

]]> By: Update: I did what Dick Durbin told me… now I’m a credit union member | kdsanders.com http://www.moneyunder30.com/multiple-bank-accounts-to-control-spending/comment-page-1#comment-12484 Update: I did what Dick Durbin told me… now I’m a credit union member | kdsanders.com Sun, 09 Oct 2011 14:02:52 +0000 http://www.moneyunder30.com/multiple-bank-accounts-to-control-spending#comment-12484 [...] on a transaction. This meant with my three debit cards, each linked to a separate checking account (a variation of the envelope system), it was going to cost me $15 a month, or $180 a [...] [...] on a transaction. This meant with my three debit cards, each linked to a separate checking account (a variation of the envelope system), it was going to cost me $15 a month, or $180 a [...]

]]> By: Out of the frying pan, into the fire: Bank of America’s debit card fee $5 fee | kdsanders.com http://www.moneyunder30.com/multiple-bank-accounts-to-control-spending/comment-page-1#comment-12262 Out of the frying pan, into the fire: Bank of America’s debit card fee $5 fee | kdsanders.com Sat, 01 Oct 2011 14:03:32 +0000 http://www.moneyunder30.com/multiple-bank-accounts-to-control-spending#comment-12262 [...] Not just one, but four. Three checking accounts and one savings account. I decided to try the envelope system — a decidedly dorky system, but one that would keep me from spending money intended for rent [...] [...] Not just one, but four. Three checking accounts and one savings account. I decided to try the envelope system — a decidedly dorky system, but one that would keep me from spending money intended for rent [...]

]]> By: JNANA http://www.moneyunder30.com/multiple-bank-accounts-to-control-spending/comment-page-1#comment-9376 JNANA Sun, 06 Feb 2011 11:50:28 +0000 http://www.moneyunder30.com/multiple-bank-accounts-to-control-spending#comment-9376 I manage all complications related to money in a simple way with three accounts: 1.For future saving purposes 2.For donation and other timely requirements of friends and family 3.Day to day needs of mine When money comes to me I decide what part of money should go to which accont Its so simple.. I manage all complications related to money in a simple way with three accounts:

1.For future saving purposes

2.For donation and other timely requirements of friends and family

3.Day to day needs of mine

When money comes to me I decide what part of money should go to which accont

Its so simple..

]]> By: Jesse http://www.moneyunder30.com/multiple-bank-accounts-to-control-spending/comment-page-1#comment-8459 Jesse Fri, 10 Dec 2010 15:48:23 +0000 http://www.moneyunder30.com/multiple-bank-accounts-to-control-spending#comment-8459 I have two checking accounts and one savings account. I do basically the same thing everyone else does. The ony way I differ is that in my savings account I keep a spread sheet of different "buckets" One for house,truck, and emergency fund ect. That way I only have a few accounts but can earmark stuff for different purposes. Simple and streamlined. I have two checking accounts and one savings account. I do basically the same thing everyone else does. The ony way I differ is that in my savings account I keep a spread sheet of different “buckets” One for house,truck, and emergency fund ect. That way I only have a few accounts but can earmark stuff for different purposes. Simple and streamlined.

]]> By: Megan http://www.moneyunder30.com/multiple-bank-accounts-to-control-spending/comment-page-1#comment-7971 Megan Tue, 09 Nov 2010 20:31:43 +0000 http://www.moneyunder30.com/multiple-bank-accounts-to-control-spending#comment-7971 @Carlos, Absolutely - many online banks allow this and I think brick-and-mortar and CU do too. I use Ally personally and I have my name and under my name I have 8 accounts (called "sub-accounts" by some people). I can name them whatever I want and I can transfer money in and out of them (up to 6 withdrawals per month) between those accounts and between the Ally and my USAA accounts... It's really great for separating out House costs from Vacation costs from Emergency Fund, etc... @Carlos,

Absolutely – many online banks allow this and I think brick-and-mortar and CU do too.

I use Ally personally and I have my name and under my name I have 8 accounts (called “sub-accounts” by some people). I can name them whatever I want and I can transfer money in and out of them (up to 6 withdrawals per month) between those accounts and between the Ally and my USAA accounts…

It’s really great for separating out House costs from Vacation costs from Emergency Fund, etc…

]]> By: Carlos http://www.moneyunder30.com/multiple-bank-accounts-to-control-spending/comment-page-1#comment-7479 Carlos Wed, 13 Oct 2010 07:07:30 +0000 http://www.moneyunder30.com/multiple-bank-accounts-to-control-spending#comment-7479 Nice article, then i'mn not so crazy as i thought ^_^. I do it too...but so far only enveloples ha ha and one 2 bank accounts for checks Hmmm I'm curious, can a person have multiple savings accounts in one bank? let's say I want to save money for traveling and to keep it separated from my "regular" savings...is it possible? :p Nice article, then i’mn not so crazy as i thought ^_^. I do it too…but so far only enveloples ha ha and one 2 bank accounts for checks

Hmmm I’m curious, can a person have multiple savings accounts in one bank? let’s say I want to save money for traveling and to keep it separated from my “regular” savings…is it possible? :p

]]> By: James http://www.moneyunder30.com/multiple-bank-accounts-to-control-spending/comment-page-1#comment-7424 James Fri, 08 Oct 2010 23:33:47 +0000 http://www.moneyunder30.com/multiple-bank-accounts-to-control-spending#comment-7424 David, is this still the way you control your spending? if not could you update it. I'm curious to know how you go about your spending now. Thank you, David, is this still the way you control your spending? if not could you update it. I’m curious to know how you go about your spending now.

Thank you,

]]> By: Alex http://www.moneyunder30.com/multiple-bank-accounts-to-control-spending/comment-page-1#comment-6719 Alex Sat, 21 Aug 2010 02:53:53 +0000 http://www.moneyunder30.com/multiple-bank-accounts-to-control-spending#comment-6719 I haven't got any accounts yet. But when I start managing my own money, I will have five accounts, a transaction account, where most of my spending goes, a savings account were I save up for luxury items, and another savings account for my bills. Also I will have a investment account set up when I have enough money, for when I want to do something special. I haven’t got any accounts yet. But when I start managing my own money, I will have five accounts, a transaction account, where most of my spending goes, a savings account were I save up for luxury items, and another savings account for my bills.

Also I will have a investment account set up when I have enough money, for when I want to do something special.

]]> By: Coty http://www.moneyunder30.com/multiple-bank-accounts-to-control-spending/comment-page-1#comment-5313 Coty Sat, 08 May 2010 05:57:49 +0000 http://www.moneyunder30.com/multiple-bank-accounts-to-control-spending#comment-5313 My fiance and I each have a checking and savings, and a joint account. We're going to start two IRA accounts, I just opened a checking at Suntrust as an emergency bill account. Im going to start an account for emergency health care, another for emergency rent, an account for emergency food. We are basically going to have emergency accounts that we dont touch. We're going to keep emergency cash at home also. We use our joint for clothes and as a backup, an my checking pays half hers pays half, which leaves the savings accounts for long term. My fiance and I each have a checking and savings, and a joint account. We’re going to start two IRA accounts, I just opened a checking at Suntrust as an emergency bill account. Im going to start an account for emergency health care, another for emergency rent, an account for emergency food. We are basically going to have emergency accounts that we dont touch. We’re going to keep emergency cash at home also. We use our joint for clothes and as a backup, an my checking pays half hers pays half, which leaves the savings accounts for long term.

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