Divide your cash into envelopes

Learning2Budget

Bump for KirstyO

sysadmin

Can anyone tell me how to setup the "pots" with a halifax account?

Are they a type of savings account? If so which one?

I currently have 2 banks account (1 ultimate)

1 savings account

2 savings accounts for my daughters (in their name but on my online banking)

I really like the idea of having different accounts for different things and think It will actually help me save!

Help appreciated

Skint_Catt

PLEASE be careful doing this - I used to do it for my bills when I was younger - then I got burgled when out one night and lost the lot. Ok, so it's unfortunate, but could you afford to lose all your money if someone managed to get into your property or you lost your handbag?
C xx

Learning2Budget

Now on week 2 and loving this!!

Good point Skint_catt will be very careful!!

I have joint account for all dd's and savings account for emergent fund. So all i have in my tin is food money for the month, clothing budget (for kids) and a little tin for any saves. All stashed outta the way.

Did food shop this week armed with calculator and shopping.list!! Restoring the empty larder but still came in under budget!!

Happy times. L2B.x

missladyannie

I get paid on Friday, but it will be a 5 week month, so smaller envelopes which will make things harder for me!

I also need to get into the habit of putting some money away for 6 monthly car tax and 6 monthly road permit, which would be £11 each per month (£22) as they are around £66 each per 6 month.

Its hard work being a grown up!!! God if only i'd known then what I know now! Silly silly mistakes!! lol!

Learning2Budget

Missladyanne you can put car tax on a postoffice budget card. its what i do on payday. Used to be the savings stamps but they upgraded to a card now. Means i can't 'nip' into it if Im short of cash!!
L2B.x

joedenise

missladyannie wrote: »

I get paid on Friday, but it will be a 5 week month, so smaller envelopes which will make things harder for me!

I haven't been doing this recently but used to do it when the children were young but I used to divide every month into 5 weekly amounts and at the next pay day whatever was left went into a savings account for holidays.

It makes it much easier to manage the 5 week months if you're used to having only 1/5 of the months money each week anyway.

HTH

Denise

missladyannie

joedenise wrote: »

I haven't been doing this recently but used to do it when the children were young but I used to divide every month into 5 weekly amounts and at the next pay day whatever was left went into a savings account for holidays.

It makes it much easier to manage the 5 week months if you're used to having only 1/5 of the months money each week anyway.

HTH

Denise

Thanks thats a really good idea, I didnt think of that!

missladyannie

Learning2Budget wrote: »

Missladyanne you can put car tax on a postoffice budget card. its what i do on payday. Used to be the savings stamps but they upgraded to a card now. Means i can't 'nip' into it if Im short of cash!!
L2B.x

Thank you I didnt know this either!

Everhopeful09

Going to try this for April once I get paid, will make me think twice if I have to hand over hard cash! Will hunt around for some purses or something to split the money up into.