I BUDGET USING 7 ACCOUNTS! Budgeting tips for beginners 2020 | Multiple bank accounts

*Watch in 1080p*

Creating a budget is one of the best ways to take control of your finances! My budget has allowed me to save money, invest, and pay off debt on my debt free journey all as a single mom! Yet, it can be hard to stay on budget sometimes. This is why I budget using multiple bank accounts. Separating my budget categories makes it a lot easier to track my spending and keep my money organized versus using just one account for everything. Check out how I budget using 7 bank accounts with the cash envelope system.
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Disclaimer: I’m not a financial expert, accountant, or anything related. I am not qualified or certified to give financial advice. This channel’s content is not to be construed as personalized advice. However, I am sharing my personal experience and individual opinions. If you are looking for financial advice, please seek the services of professional advisers.

[DyanaMariie]

😩Sorry for the random 2 lags but they do clear themselves up pretty quickly! Do you budget using multiple bank accounts?!👇

[missboo]

I’ve been using the Ally Bank Savings for my Sinking Funds. They allow you to separate savings into buckets, you can also set goals for individual buckets. The bonus no charge and you can earn a small percentage on your money. For anyone researching options. Thanks for an informative video.

[alondraorozco]

I used to do budgeting with cash but now I have multiple debit cards. I currently have 5 accounts. I don't consider it overwhelming, its actually kind of fun for me tbh 😅

[vizeath]

This month is the first time that I have 7 bank accounts and the first time I can fund them all,

And it feels sooo great to be able to fund all of your bank accounts.

Everyone has different purposes and different amounts of accounts and they're all good if they work.

Usually, when I received my monthly bonuses & incentives,

I would spend them all in a day or two,

And mostly on useless stuff, like clothing, bags, etc.

But now that I have 7 bank accounts to take care of, I can see how much money left that I got to be spent on crazy shopping, and there's none.

[sgenetinp]

Finally! One of the most helpful budgeting videos I’ve ever heard! Thank you!!

[RoadtoFIRE]

I do the same thing. We use several accounts especially for our sinking funds!

[christabellecarpenter]

This is my favorite backdrop in your videos. I like the board that shows where you are goal wise.

[L.O.R.DRecords]

Great concept I’ve been using multiple accounts for years ( Not 7 ) but I have 4 accounts & it’s very helpful 💯✔️

[davisdenniswms]

Great and informative information! I will be using some of these strategies!

[ciannacoleman]

I’m sitting at 4 about to have 5. I love having my savings categories separated with anything having to do with my vehicle in its own account. I do my best to keep a good buffer in my checking account so if I over spend in a category I’m not in trouble.

[meyasanyang]

I have 2 checking accounts and a savings account I use willy nilly lol. I plan on restructuring the way that I use the accounts and opening 1 or 2 more. Thanks for the advice.

[daniellejones]

I have several bank accounts as well. Two at my credit union. One for my 4 Walls (housing, transportation, utilities and food), the other for fun. My savings are at Ally, an on-line bank account (Sinking funds, long term savings and short term savings). One business account Capitol One (checking and savings).

[sammyabbas]

I love your YouTube ! I am going to start using multiple bank accounts. I have two savings with no arm cards. Then my bank has 3 accounts. Just opened a BOA i think I’ll use it as a gas account

[JazzyMB]

Me too to use multiple accounts for savings I am so grateful God put this on my heart just started the envelope stuffing method thank You so much 💜

[Eliz-fsvs]

I use several accounts as well but I've since simplief them with Sofi because you can have multiple vaults within one account each vault can be named so you can categorize your spending

[aridelisbido]

This is super valuable info. Having multiple accounts helps SO much!!! Everyone should do this

[mercibeau]

im currently at 2, one for saving and one for my weekly spending. im currently trying to find ways to budget for rent, this is v helpful

[evenatandnico]

This is one of your best vidoes... I will definitely use these tips

[lindseym]

Thank you! Amazing advice and realistic.

[TheComplexitiesofKiKi]

Such a gamechanger! So glad I found your channel! New subscriber