Banking Account

[TalonErickson7]

Does anybody do any weird tricks with there checking accounts? A co-worker of mine has his direct deposit going into 3 different bank accounts. 1st account is for bills, mortgage etc living off of.
2nd account is for play money
3rd account is for saving.. Which he does not have a debt card for and doesn’t get money out of unless he absolutely has to.. Ive never heard of someone doing this I found it strange but also interesting


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[sir shovelhands]

Yep: I have my pay split into two accounts, 30% straight into savings which I rarely touch unless it's for a huge purchase, and 70% into checking which is for everything else. And if I get over a certain amount in the checking, I put the overage into my savings.

I do like the idea of splitting bills money and play money, heck, if you know your monthly's real well, it's a great idea.

[Merc]

I do almost the same thing.

Checking account gets a % for bills and play money, savings account gets the rest and doesn't get touched.

I've got a 3rd account at another bank that whatever is leftover from the previous paycheck in the checking account when the next paycheck hits, gets rolled into. That's my big toy account.

All of that is after my 401k and company stock plan is already taken out.

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[topshot]

pay is split between two banks.
Bank A 75% - two checking accounts - One for DD, one for daily spending/bills
Bank B 25% - one checking account - DD - no spendy unless emergency

[rjet]

Yes, I have mine going to 3 different banks.
One where truck loan is, one for bills and last for savings.
Didnt really plan doing it this way but it just happened for various reasons.

[Charles]

I've done that in the past. Now my check is DD into my checking, than I transfer to other accounts. My check amounts have huge spreads though.

[Bisch]

I do the splitting myself, but I have separate accts for hunting, vacation, taxes and ins, and paying the bills!

Bisch


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[TexasArchery_27]

My employer offered access to make these changes with a few quick clicks in our portal. I've done this for years, and found it very useful for management.

Account #1 - Checking, Fixed distribution amount, Tied to Paypal, for online spending purchases (No debit card associated)

Account #2- Checking, percentage distribution amount, used for bills and everyday expenses.

Account #3 - Savings, percentage distribution amount, no debit card tied to this account. and also not visible on mobile device.

[ultralite09]

Yup I do the same
After taxes, 401k, and insurance, I have 3 accounts for direct deposit.

#1 checking is for fixed monthly bills, #2 checking is for play money, groceries/gas ($100 weekly) and then my savings account.

Anything left over in my play money checking account by the time my next check comes in gets put into my savings and I start from scratch every 2 weeks.

[EastTexasMan]

I've got 3 accounts

1) Checking, bills, day to Day
2) Savings
3) Investment account to loan money out

[Buck Slayer]

I understand 3 different accounts, but I don't understand some of you who have 3 different banks (unless you have loans from different ones i.e house, truck, etc.)

[glen]

I do 4 accounts-

[Dirtymike]

i have DD into my USAA account then send it to Kubota account, Amazon account, Wells Fargo account and many others. Once they go into those other accounts i never see it again.

[tommy1005]

I have 5 accounts at 3 banks.

1. gets the money to pay the bills
2. gets the money to pay for my sons after school care/wife’s spending money
3. Gets my commission money to pay for hunts
4. One savings account is an emergency fund with 6 months of expenses
5. Savings account to pay our property taxes and insurance

We probably would’ve had them at 1 or 2 banks, but when we got married 11 years ago out of college, my wife had a credit union account for most of her money and a Wells Fargo account that she could access more easily in Waco, and I had my bank account.

We just kept all 3 banks and have a system where we know what we’re budgeting each month and where the money needs to be and we make changes as needed once the money hits the accounts. For instance I’m going to Africa next year, so some monthly expense money is budgeted to go into my hunting account along with my commissions to save up for that trip.

[CSanders]

I just move as much as I can handle comfortably into savings every two weeks after the bills are paid.