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Re: Savings Account?
We have different accounts for different things, some we use, some we don't. We do have kids.
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Posted 10/11/12 2:30 PM  |
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MrsSx2
Finally a MOM!
Member since 11/10 2222 total posts
Name:
Valerie
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Re: Savings Account?
Posted by moonmist09
we basically never touch our savings account, we pretend it doesn't exist
Same here.
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| Posted 10/11/12 2:57 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Savings Account?
Posted by Blazesyth
Posted by Beth
I have multiple savings accounts and still need to open one more
this is how I do things
checking- pays bills
operation account- overflow for a 3 months worth of bills
house savings account- right now for a purchase- in the future for projects
taxes - I have to pay estimate quarterly
fun savings- for things like shopping and not fun things like brakes
emergency fund- 1 years worth of expenses never to be touched- this is a work in progress
I am self employed, single with no kids
this is how my finacial planner wanted to see it set up and I think it makes the most sense
once my emergency fund is complete- then I invest-
Are those all separate accounts? If so, how do you not go crazy!
I have 1 savings, 1 checking and 1 MMA - and it's annoying to play the digital penny shuffle. 
yes I do
they are called buckets
I run my business and have a lot going on I need to save for
if I saw my tax account mixed with another account I would feel rich- when really I need a boatload of money for the IRS- so I am doing it this way
they are all labled and linked- I love it
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| Posted 10/11/12 3:13 PM |
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petunias
LIF Infant
Member since 4/12 295 total posts
Name:
Petunia
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Re: Savings Account?
Posted by Blazesyth
Posted by Beth
I have multiple savings accounts and still need to open one more
this is how I do things
checking- pays bills
operation account- overflow for a 3 months worth of bills
house savings account- right now for a purchase- in the future for projects
taxes - I have to pay estimate quarterly
fun savings- for things like shopping and not fun things like brakes
emergency fund- 1 years worth of expenses never to be touched- this is a work in progress
I am self employed, single with no kids
this is how my finacial planner wanted to see it set up and I think it makes the most sense
once my emergency fund is complete- then I invest-
Are those all separate accounts? If so, how do you not go crazy!
I have 1 savings, 1 checking and 1 MMA - and it's annoying to play the digital penny shuffle.
Us too.
1 checking
Kids Savings (2 accounts)
1 savings (don't touch)
1 online savings (for bills that get paid a few times a year)
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| Posted 10/11/12 4:07 PM |
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JDubs
different, not less
Member since 7/09 13160 total posts
Name:
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Re: Savings Account?
we try not to touch it if we can... this month though we may need to since i am on maternity leave and i'm not getting paid until i go back to work
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| Posted 10/11/12 4:07 PM |
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petunias
LIF Infant
Member since 4/12 295 total posts
Name:
Petunia
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Re: Savings Account?
Posted by JDubs
we try not to touch it if we can... this month though we may need to since i am on maternity leave and i'm not getting paid until i go back to work
When I was on maternity leave twice, we would have a savings account on the side that we saved money in before I was even pregnant and while I was pregnant to equal the 12 weeks of checks I was not getting while being home.
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| Posted 10/11/12 4:10 PM |
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ElizaRags35
My 2 Girls
Member since 2/09 20494 total posts
Name:
Me
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Savings Account?
DH and I have separate checking accounts. We have a joint Savings which has almost nothing in it since we used what was in it for the DP on our house. I also have accounts with stocks, a trust.. stuff like that. I do not touch those accounts at all. I forget they are there so I am not tempted to use that money. That is strictly for mega emergencies (god forbid).
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| Posted 10/11/12 4:29 PM |
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Smileyd17
kids
Member since 5/05 20997 total posts
Name:
Mommy
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Re: Savings Account?
Posted by moonmist09
we basically never touch our savings account, we pretend it doesn't exist
SAME
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| Posted 10/11/12 4:43 PM |
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muffaboo
LIF Adult
Member since 12/10 3797 total posts
Name:
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Re: Savings Account?
We have a joint savings account and separate checking accounts (but DH doesn't really use his). DH puts almost his entire paycheck into our joint acct (he might take a couple hundred out just to have cash on him) and we basically live off just my salary. My paycheck gets directly deposited into my checking acct and all bills and $$ for fun stuff comes out of there. I then put leftover money into our joint acct. So no, we don't touch that money in our savings. We're able to save a lot this way.
eta: And we don't have any kids...yet.
Message edited 10/11/2012 7:01:18 PM.
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| Posted 10/11/12 7:00 PM |
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CAMCaps
Live Laugh Love Run
Member since 6/07 4922 total posts
Name:
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Re: Savings Account?
We have multiple sub accounts. We have an emergency savings account, which we do not touch. We then have a vacation savings account, car savings account, etc.
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| Posted 10/11/12 7:28 PM |
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gdubs
This baby is awesome!
Member since 11/10 2467 total posts
Name:
Gina
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Re: Savings Account?
We'll take money out of savings for home improvements and travel. Other than that we don't take anything out of it, never for monthly bills or regular spending.
ETA: We have a separate account for bills and then we each have our own accounts for spending. This doesn't include our 401k or other investments.
Message edited 10/11/2012 9:09:27 PM.
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| Posted 10/11/12 9:08 PM |
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LotsaLuv
Us
Member since 6/10 4094 total posts
Name:
F
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Savings Account?
We have a do not touch savings, and a house savings. We use thehouse savings for fixing up buying things etc...
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| Posted 10/11/12 9:13 PM |
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stinger
LIF Adult
Member since 11/11 4971 total posts
Name:
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Re: Savings Account?
Single with 2 kids:
403B (automatically taken out from paycheck)
Online savings account $xxx amount taken out biweekly (every time I get paid). I havent touched this in a long while thank God, it's for emergencies.
Both DDs have college funds that are taken out 1x a month automatically.
If I had more money, or could find another way to save more, I have a vacation fund, or a fund for home renovations, etc. Or I'd just save more for kids college.
Anyone have suggestions for that last one?? 
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| Posted 10/11/12 10:24 PM |
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petunias
LIF Infant
Member since 4/12 295 total posts
Name:
Petunia
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Re: Savings Account?
Posted by stinger
Single with 2 kids:
403B (automatically taken out from paycheck)
Online savings account $xxx amount taken out biweekly (every time I get paid). I havent touched this in a long while thank God, it's for emergencies.
Both DDs have college funds that are taken out 1x a month automatically.
If I had more money, or could find another way to save more, I have a vacation fund, or a fund for home renovations, etc. Or I'd just save more for kids college.
Anyone have suggestions for that last one??
I wish I did. We have retirement savings, some college for the kids that we can't add to, some savings that we can not add to also.
The older the kids get, the harder it is to save money. Almost everyday there is something they need. Not joking either. A shirt for this, snacks for some club or team, cash.
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| Posted 10/11/12 10:55 PM |
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marieSand
Hello LIF!!!
Member since 8/10 1224 total posts
Name:
marie
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Re: Savings Account?
Posted by moonmist09
we basically never touch our savings account, we pretend it doesn't exist
Same!
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| Posted 10/11/12 10:58 PM |
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DiamondGirl
You are my I love you
Member since 7/09 18802 total posts
Name:
DiamondMama
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Re: Savings Account?
I like to keep a minimum amount in there, meaning if it dips below I am not comfortable bc I like knowing I can withdraw, pay bills etc. from there but my true savings are in things earning interest.
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| Posted 10/11/12 10:59 PM |
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Mrs213
????????
Member since 2/09 18986 total posts
Name:
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Re: Savings Account?
Posted by HoneyBadger
For me, it's like a cushion, a safety net of sorts so if an unexpected expense comes up there's money there to pay for it if the checking account falls short.
Basically this, we use money from savings from time to time, but generally try not too.
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| Posted 10/11/12 11:01 PM |
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LittleBlueBug
Happy Mommy
Member since 9/06 4074 total posts
Name:
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Re: Savings Account?
It's kinda both. For the most part I dont touch it unless its an emergency. Sometimes things come up and I go over and need to borrow, but I try not to do it often. I also put my daycare money in there every pay period so that I dont spend it and then transfer.
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| Posted 10/11/12 11:09 PM |
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Hofstra26
Love to Bake!
Member since 7/06 27915 total posts
Name:
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Re: Savings Account?
It would be nice in theory if I could put money into savings and never touch it again however, with so many bills, a house that always needs something, paying our way out of debt, and having kids it doesn't always work out that way. We do the best we can but realistically, we rarely just leave our savings alone.
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| Posted 10/12/12 8:19 AM |
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petunias
LIF Infant
Member since 4/12 295 total posts
Name:
Petunia
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Re: Savings Account?
Posted by Hofstra26
It would be nice in theory if I could put money into savings and never touch it again however, with so many bills, a house that always needs something, paying our way out of debt, and having kids it doesn't always work out that way. We do the best we can but realistically, we rarely just leave our savings alone.
I am glad to hear we are not the only ones. As kids get older it is much harder to save, in my opinion. My teenager has something every single week she needs money for. Literally. Last week was a t-shirt for a club and a snack for a party. This week was a snack for a party. Next week is club pictures. My youngest had to take 2 snacks this week for sports. School pictures in 2 weeks. Religion fee 2 weeks ago.
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| Posted 10/12/12 11:23 AM |
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caps612
In love with my little guys!!
Member since 8/10 5108 total posts
Name:
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Re: Savings Account?
Posted by missfabulous
We don't really use the money in our savings account. It's really for emergencies, big purchases, etc. We have had to dip into at times, but for the most part try not.
this!
once exception is that we put money for the mortgage in there every month plus additional for actual savings. the mortgage is automatically paid from there each month, so I never have to worry if there is enough $$ in the checking for it, I always know there is enough in there.
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| Posted 10/12/12 11:50 AM |
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