MBA

LIFE & WORK SKILLS

Why I Have 4 Bank Accounts

 

Saying "I love to shop" would be an understatement. We've all been there. Picture sitting in your cozy bed watching Netflix and suddenly you get the urge to shop. You don't feel like leaving the cocoon that you're now buried in so you grab your laptop and head over to Pinterest. You find THE most gorgeous dress that you've ever seen, and lucky for you the image is linked to the actual online store!

and then this happens... you realize that you're broke because you spend too much on pizza, hair appointments, and bills. Having 4 bank accounts can save you in times like these and has really helped me to budget my money instead of swiping my card like I have an endless flow of cash. As soon as I found this idea on The Every Girl I knew that I had to start using 4 bank accounts, and I am so glad that I did!

 

A IS FOR ACTIVITIES

A romantic night out, a lunch date with a girlfriend, or a zip lining weekend trip. This account is for all of those little activities that you love! I have dedicated this account for my fun activities and shopping trips. It has allowed me to budget in a certain amount each month so that I never over spend.

 

B IS FOR BILLS

This one is self-explanatory, but this one is for your bills. I put enough money in this account to cover my insurance, rent, utilities, food and other small expenses related to my living costs. I never have to worry if I have enough to pay my bills, because I can always see the exact amount that I have dedicated to them.

 

C IS FOR CRISIS

Having an emergency account is more important than any of these other accounts. This can cover a flat tire, hospital bills, home repairs and other major expenses. Having at least $1,000 in this account at all times will be beneficial if you're ever faced with a crisis.

 

D IS FOR DREAMS

This account is probably my favorite out of these 4. I used my dreams account to travel to Greece, but you can use yours for any dream you may have. You can save money in this account for your business, for a weekend trip with your family or to purchase your first puppy!

 

Do you use multiple accounts to budget, or have any tips that you'd like to share? If so leave a comment below!