The 8 bank accounts that every family should have, (yes, for real 8)
So finally the chaos of the year is over with, well kind of. Now let us take a moment to reflect on the new year, new beginnings and new resolutions. When most can easily get ourselves in debt or our checkbook out the balance due to splurging. Yes, because well from time to time we get so caught up trying to keep up with the Jones. You have to admit we are lucky if we were able to accomplish all or most of what we wanted.
Now with thoughts of regret of possible overspending, take this opportunity to think of the financial situation you might be in. As a single mother, I know this feeling a little too well. But even families with the economy nowadays, holidays are still a daunting and stressful time of the year. So this would be a good time to reflect on how to get your finances in tack or better if you did well in the past.
So I discovered this financial budget idea to be fascinating when I started to apply it myself and this year my goal is to do all of eight accounts as well.
This method that I implemented was from one of my favorite you tuber that is a financial expert. Which made a huge impact on how I budget my money and helps me get closer to my own personal goals. Now just like everything, you should look into all the incentives your banking with currently and compare to other financial institutions. Me working for one definitely gives me a good well-known perspective on how it works, and surprisingly there are some that are built for consumers more for themselves. With so many competing with each other, you may run into some deals open up a new account, which is a great way to start by cashing in.
So the following is an awesome way to separate your money and organize every dollar you earn to help balance everything out. This will help you get on top of your bills, get out of debt and meet some financial goals. Trust me, a little work in the beginning but you will be glad you did it in the long run, especially next year when you realize how things will run much smoother financially.
Traditionally most families have two bank accounts a savings and a checking account. But soon you will see why breaking them down will make it easier to manage.
So here are 7 or 8 bank accounts if you have a partner that every family should have, for real.
1. Account 1 "family Savings" called the holding tank; a purpose for short term emergency this account is for pre-planned expenses such as a car, vacations, Christmas shopping as well as unexpected and expected expenses such as new tires and/or home repairs. And if possible don't link it to your online and no card for easy access. That way you will think twice before you try to use it for something else, especially at the beginning when you trying to b