You read that right, I have six bank accounts that I use on a monthly basis. I have had more in the past and the number of accounts fluctuates depending on what is going on in my life.
If you move your money at the beginning, it makes it much more difficult to overspend if you don’t have the money in checking to begin with. This is where strict discipline on credit card usage is a must.
After the money is deposited into checking, we move a portion into a vehicle fund. This fund is only for vehicle maintenance and for future vehicle purchases.
This is obviously our favorite fund and one we make sure we put money into each and every month! By having a set amount of money deposited into this savings account, we pay for our vacations with cash.
Our fourth savings account is our emergency savings and six months of expenses fund. Luckily this savings account is fully funded so we no longer contribute to it.
Emergency Savings And 6 Months Of Expenses Account