bank accounts

irishwexford

I have trimmed my spending and got to grips with shopping challange and personal spending. I used to go overdrawn every month with impulse shopping but now under control. Reading in Martins book he suggested have different bank accounts for such things as Christmas, Clothes and Holidays. I have a current and savings account also cash Isa with the same bank and a small savings account with Tesco where we put in £40 each month for Christmas pressies. I would like to make myself a clothing allowance and also save for holidays but is it worth the trouble of opening so many accounts. I did think of opening a Post Office account for holidays and save my clothes money in piggy bank. Any ideas please.

anniecave

you could use the same savings account for all three. Just keep a record of the running total of each separately on a spreadsheet.

Alternatively, you could have several acccounts with some providers. I have a halifax websaver, and I think you can have more than one of them, so you could have one for holidays, one for xmas etc.

immoral_angeluk

Try getting an account with online banking. Barclays for example let you set up a number of 'e-savings' accounts which you can instantly transfer money to and from online and it shows you everything on one page.

Penny2myName

I now have 6 bank accounts, and it does make things easier in the long run. 2 are current (one household bills, one debts), one is easy cash(weekly budget), 1 isa and 2 e-savings, one with Halifax and one with Bradford & Bingley. Non of my money can get mixed up then, and the savings ones are set for manual transfer so if i cant afford to save one week i dont.