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I have four bank accounts personally.
One is an emergency fund and is away from everything else.
One is a bill pay account for all of my routine expenses such as rent, student loans, utilities, etc.
One is a regular checking account for daily living stuff like gas, food, cash, etc.
One is a short-term savings account that is connected to my two checking accounts. I generally keep at least $1,000 in my short-term savings, however that is earmarked for things like vacation, car maintenance, holidays, and any large expenses that I forsee. The nice thing about this money is that it is flexible and I can repurpose it if necessary.
I run the two checking accounts done to $0. The night before a paycheck, I balance everything and if there is some leftover money in my regular checking account, I usually transfer that to savings and keep it as a "buffer." The buffer is basically just a "blow" category and can be used in the event that I need extra cash.
One is an emergency fund and is away from everything else.
One is a bill pay account for all of my routine expenses such as rent, student loans, utilities, etc.
One is a regular checking account for daily living stuff like gas, food, cash, etc.
One is a short-term savings account that is connected to my two checking accounts. I generally keep at least $1,000 in my short-term savings, however that is earmarked for things like vacation, car maintenance, holidays, and any large expenses that I forsee. The nice thing about this money is that it is flexible and I can repurpose it if necessary.
I run the two checking accounts done to $0. The night before a paycheck, I balance everything and if there is some leftover money in my regular checking account, I usually transfer that to savings and keep it as a "buffer." The buffer is basically just a "blow" category and can be used in the event that I need extra cash.
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