"If the rich could hire others to die for them, the poor could make a nice living." - Yiddish Proverb
logo

Go Back   Saving Advice > Budgeting Resources > Personal Finance Articles > Banking, Insurance, Investing

Banking, Insurance, Investing Investment banking, Savings accounts, online checking, real estate investing, stocks, invest online, health insurance...

Reply
 
LinkBack Thread Tools
  #41 (permalink)  
Old 03-02-2007, 03:29 PM
tinapbeana's Avatar
tinapbeana tinapbeana is offline
$ Saving College Senior
 
Join Date: Oct 2006
Location: Upstate SC
Posts: 1,496
Last Blog Entry: My Life is Officially Surreal
Points: 12666.33
Donate
Default

jim, congrats on finding a system that works for you.

with that said, i just prefer not to have that many accounts that i am regularly accessing. don't know if it's a security preference or laziness, maybe a little bit of both. i have a main checking, secondary checking, local and online savings. yes, the same number of accounts, but it's the frequent access that doesn't work for me.

all pay goes into main checking, and my allowance and grocery money is taken out in cash. cash works for me. roth and savings are taken out of main checking the 3rd of the month and sent to the online account. all bills are paid via the main checking account.

any extra from my allowance is put into 2ndary checking b/c i use that money for extras and/or side businesses, so there's no co-mingling of funds. any money left from main checking at the end of the month goes into the local savings account as a slush fund (aka EF).
Reply With Quote
  #42 (permalink)  
Old 03-02-2007, 03:35 PM
jIM_Ohio's Avatar
jIM_Ohio jIM_Ohio is offline
$ Saving Professor
 
Join Date: Feb 2007
Location: Milford, OH
Posts: 5,376
Last Blog Entry: Career change
Points: 27853.63
Donate
Default

for us, I send my paycheck to two accounts and the wife to three accounts. Our "old" bank charges for electronic bill pay, and we have about 500 checks left... so we are keeping that checking account for cash purposes. The corresponding savings account has some loans which are about the paid off.

It is a system, and I like many small piles as opposed to 1 or 2 big ones when it comes to money.
__________________
  • General questions get general responses. Specific questions get better responses. Want a better answer? Re-read my signature LOL
Reply With Quote
  #43 (permalink)  
Old 03-02-2007, 03:48 PM
tinapbeana's Avatar
tinapbeana tinapbeana is offline
$ Saving College Senior
 
Join Date: Oct 2006
Location: Upstate SC
Posts: 1,496
Last Blog Entry: My Life is Officially Surreal
Points: 12666.33
Donate
Default

Quote:
Originally Posted by jIM_Ohio View Post
It is a system, and I like many small piles as opposed to 1 or 2 big ones when it comes to money.
heheheh! maybe that's my preference: a few bigger piles to make me feel like i'm getting ahead

whichever way, i agree with you jim: find a system that works for you.
Reply With Quote
  #44 (permalink)  
Old 08-12-2010, 12:53 AM
Stuartthomas Stuartthomas is offline
$ Saving Third Grader
 
Join Date: Jul 2010
Posts: 14
Points: 60.00
Donate
Default

Great Post, I really appreciate your issues in this perspective...Lot’s of resources in this thread; I’ve got lots of reading and research ahead of me but I tip my hat to you guys!!
Reply With Quote
  #45 (permalink)  
Old 09-27-2010, 09:59 AM
av2000's Avatar
av2000 av2000 is offline
$ Saving First Grader
 
Join Date: Sep 2010
Posts: 5
Points: 55.00
Donate
Default

Agree. Saving money on savings account is a dead investment. Taking the risk and putting your money into something that is profitable is a great venture.
Reply With Quote
  #46 (permalink)  
Old 03-25-2011, 03:38 AM
canada94's Avatar
canada94 canada94 is offline
$ Saving Sixth Grader
 
Join Date: Mar 2011
Location: Newton le Willows (UK)
Posts: 60
Points: 405.00
Donate
Default

Good advice, you are emuch better off making your money work for you, by investing it wiseley, you get such low return rates from banks these days, so are better looking around at ways that gives you a better return of investment
Reply With Quote
Reply



Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Gas - Saving Money Tips jeffrey Money Saving Tips 49 03-23-2011 09:48 AM
Money Myths - Saving Money jeffrey Budgeting & Saving Money 12 02-15-2011 07:39 PM
Saving Money Games: Save Money jeffrey Budgeting & Saving Money 7 06-24-2009 07:10 AM
Need Help with Saving Money wenpeek General Discussion 9 11-10-2005 01:13 PM
250+ Money Saving Tips jeffrey Personal Finance News, Articles & Blog Posts 0 04-11-2004 09:19 AM



Powered by vBulletin®
Copyright ©2000 - 2012, Jelsoft Enterprises Ltd.
SEO by vBSEO 3.0.0 RC6 © 2006, Crawlability, Inc.

Copyright © 2012 SavingAdvice.com. All Rights Reserved.