money managment

Cumbrian_Male

I use 4 a main current account and 3 savings accounts. I have s/o's set up to transfer money for the none monthly bills. 1. for car expenses like tax insurance maintenance and breakdown cover. 2. for glasses eye tests prescriptions and dental costs. 3. for birthdays and xmas funds.

This way money is swept over to cover these bills and I can budget the rest from the current account. All are managed online and transfers are instant, so when the car tax is due I just transfer the money back and pay it.

chunkytfg

cady wrote: »

I think i might give it a go ...... what do you use them for and how do you organise money i was thinking

*petrol
*wages/bills
*savings

what od you think???

If those were the 4 things i had i would split them into 4 accounts so wages and bills are seperate accounts

painted_lady

I get my wage paid into one current account and all the bills go out of that, just covers it. My other current account receives other money, such as child benefit, tax credits etc and is money for other things, days out, clothes etc.
Its whatever works for you that matters.

cady

cheers guys i have two accounts at the moment so im going to give it a go my wage is going in account 1 and i have 3 bills that come out of that and a standing order to the joint account ..... then account 2 will be used for petrol and me money will give this a try then see how i get on