Hello, in this post I will be going over our accounts to help save. Having multiple accounts will help in saving. This will help with vacation and trips but also for emergencies.
Our first account we have is a checking account. Our main checking account is for the necessities. Our bills come out of our main checking account, which all have a certain time frame spread throughout the month that comes out of this account. Examples of bills for this account are rent, insurance, electric, phone and such. We also take the money from this account to pay for our daily/weekly needs. Things such as household items, pet items, food and more.
Our second account is also a checking account. This checking account is also linked to our debit cards besides our regular account. The second checking account is called rainy day. This account is where we save money for our vacations, small trips and last minute getaways. We add to this account when ever we can with extra money and so much out of each pay check. You can do 5% , 10% or higher out of each paycheck , depending on what works best for your budget. This does add up quicker then you think.
Our third and final account is a savings account. This account is for emergencies. We have used this for car repairs, medical issues, job loss and more. Don’t touch this account unless its for an emergency. Deposit a percentage of each check in this account also. We also put extra money here and there in this account. This is nice to have incase something happens. Especially helps if you run into car issues on a trip, so that way you don’t have to take from the trip money.
Having multiple accounts does help you save. Just remember to deposit some of each check into all three accounts. What you deposit into your vacation and emergency account is up to you and your budget.
Menk's Large Family Travels 