Finance trick

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12 Comments

I have a total of 5 checking accounts on my bank that I can access online. I have figured out my weekly expenses from bills and gas ($550) and every week we get paid I leave that amount in a "bills" account and take whats left over from the paycheck into the "spending" account. And out of spending account I take $30 out of that and put it in "car fund" account. $15 of that goes to "gun fund" for new gun stuff. Then I like to put about $120 in savings every week, and also I like to take $40 dollars in cash out, where half and half is saving up for a trailer and dirtbike.

My finances automatically seperate every week on Friday and it helps me tremendously to save money. When all your money is just in one accounts its impossible to keep track of it. When its automatically moving around you know exactly how much you have to spend for the week.

Every week

Bills: $550
Car fund: $30
Gun fund: $15
Savings: $120
Cash: $40
Spending: whatever is left for the week

You can also set up on cashapp or robinhood for it to automatically take out some every week so you dont have to fuck with bank shit. Even a small amount like $10 a week adds up over time. The trick is dont touch or look at the money.

Voting Results
25% Normal
Based on 4 votes (1 yes)
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Comments ( 12 )
  • Meowypowers
    2 years ago

    That seems needlessly complicated to me, I dont understand the sense in having so many checking accounts, but if you don't pay fees for them than go for it. Most people allocate their budgets with just one or two.

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    • Anonymous Post Author
      2 years ago

      I did until a week ago. The way it helps is because when $20 dollars a week automatically goes into another account every payday its easier to forget about it and let it build. If all your money is in one account its easier to think you have more money than you do.

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  • wigz
    2 years ago

    If it works for you, then keep it up. It wouldn't work for me. I keep 2 accounts, only 1 has a debit card and checks but I can move money between the 2. I build the 1 account up constantly and only spend out of the other, but I'm more spontaneous and flexible so I don't put money into "specific funds".

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  • [Old Memory]
    2 years ago

    I'm trying to set up something similar, but my freaking bank demands an appointment to be made :/

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  • olderdude-xx
    2 years ago

    While I have multiple bank accounts - they are in different banks so that if there is a problem with one account I can use another account until the problem is sorted out.

    However, Each bank account has a separate spreadsheet, and I track in columns where the various money goes. I don't need separate bank accounts to be able to track that.

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  • megadriver
    2 years ago

    I just have a set target of money I want to save each month and that goes into my savings account (The move back home to Bulgaria account). I do this manually. The rest remains on my main account and is used to pay the bills and cover all of my and my fiancee's expenses and whatever is left over - spending money.

    My online banking offers a free service that keeps track of your expenses. You can go all out and customize it like crazy, but I have a more basic setup that works just fine.

    Rent and bills go into the "Living" section.
    Phone and Internet bills go into "Network", I keep a close eye on that one... damn POS always trying to get you to pay more...
    Anything bought from a supermarket goes into "Groceries".
    Car payments, car insurance and fuel go into "Car".
    Any cash I get from an ATM goes into "Cash" and if I pay with my debit card at a restaurant, buy something online, or at a store that isn't one of the large supermarkets - it's automatically shown in the "Leisure" category.
    Since it's probably non-essential.

    The system also gives me notices if I spend more than last month and shows me the category where I spent more money.
    If I'm in the green, it shows the category where I've saved money too.

    It's not perfect, but I can manage my money and try to keep pointless spending at a minimum.

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    • Anonymous Post Author
      2 years ago

      Mine also does that but I feel that splitting the money helps me better keep track of it. But your way sounds somewhat similar. It helps alot doesnt it?

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      • megadriver
        2 years ago

        I wouldn't say it helps too much as I normally hate wasting money, but it's nice to know precisely how much you spend on different things.

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  • donteatstuffoffthesidewalk
    2 years ago

    try this one weird trick

    atms hate him!

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    • Anonymous Post Author
      2 years ago

      Cash back at walmart!

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  • Cuntsiclestick
    2 years ago

    Where the hell are you living that your bills are so low? XD

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    • Anonymous Post Author
      2 years ago

      That is $550 a week not a month. So thats $2200 a month. Which is not that cheap. I live in the southern part of the USA and I have a mortgage but I do not have car payments. I buy cheap used cars with cash which helps my bills stay low.

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