Organising finances: is this right?

npsmama

Sorry to ask daft questions but I'd rather double check.

I'm going through Martin's articles and implementing the advice.

To summarise:
- do the Budget Planner
- assign expenses to categories and open one bank account per category as well as your main account (piggybanking)
- set up standing orders so that after you have been paid the relevant amounts are paid into your piggybanks
- apply for high cashback credit card(s) and assign each credit card (if you have several) to a piggybank account. Set up direct debit from relevant piggybank account to relevant credit card account so as to pay it off in full each month. Use a credit card until the high cashback expires. Then cancel the credit card.

is this right?

many thanks

Lokolo

I have 2 current accounts and 2 types of savings;

1st Current account is for general useage, shopping, spending etc.
2nd is for bills; phone, net, investing etc.

1st savings is for rainy day
2nd savings is for long term (ISAs and such)

And I budget for this, quite happily.