I have 6 for personal use, which makes accounting so much easier. I assign a budget at the beginning of the month and at any time I have a good overview of how much I spent for that duration.
To illustrate, this is how I split my accounts:
personal expenses
household budget / groceries. This one’s a shared account with my GF
savings
credit card
rent / utilities. Pay in a fixed amount each month, slightly higher than average spending and then not get shafted when insurance or a high electricity bill is due.
work travel. This one is the exception. It’s empty unless I travel somewhere for work, then I top it up and at the end I copy and paste all my expenses from this account for travel reimbursement
I spend less than 15 minutes each month on accounting and the only downside is that I have to set up several budgets and carry a round several cards to pay with. Once a year I go through the accounts and adjust budgets if necessary.
I have 6 for personal use, which makes accounting so much easier. I assign a budget at the beginning of the month and at any time I have a good overview of how much I spent for that duration.
To illustrate, this is how I split my accounts:
I spend less than 15 minutes each month on accounting and the only downside is that I have to set up several budgets and carry a round several cards to pay with. Once a year I go through the accounts and adjust budgets if necessary.
Ah so this is what responsible organized budgeting looks like.
I have the all mighty checking account and savings account I never transfer anything into.
This is the Way
The American™ Way
Ew I’m not American