Money anxiety

AmityNeon

Budgeting without relying on seeing money in specific accounts is better financially, as you can park your money in the accounts with the best returns whilst still being certain about the funds you have allocated towards specific savings/expense categories (including emergencies).

Accounts Total £30,300 Current Account A £100 Current Account B £100 Current Account C £100 Instant Access Saver £1,000 Easy Access Saver £2,000 Notice Saver £3,000 Fixed Saver A £5,000 Fixed Saver B £12,000 Regular Saver A £250 Regular Saver B £500 Regular Saver C £750 Regular Saver D £1,000 Regular Saver E £1,250 Regular Saver F £1,500 Regular Saver G £1,750

Budget Total £30,300 Mortgage/Rent £1,000 Bills £250 Travel £200 M Insurance £50 O Fees £30 N Groceries £300 T Household £200 H Eating Out £100 L Entertainment £100 Y Subscriptions £50 Retirement £500 Guilt-free Treats! £720 Vacation £2,500 Home Maintenance £6,300 Emergency £18,000

Borrowing from overdraft and paying interest on the amount borrowed is effectively an expense; it is not saving, despite the act of transferring money to a savings account, as no savings strategy can outpace overdraft fees.