Extra Change in Seperate Bank Account
By zeloguy
@zeloguy (4911)
United States
April 23, 2011 1:18am CST
I regularly move money from one bank account to another. I also move money from PayPal and the sort to bank accounts. A few years ago someone told me to take the non-rounded balance of my account and put it in a separate account.
For example.
Say I have a paycheck of $1,562.42. I will take 12.42 and move it to a 'vacation fund' bank account. These little amounts of money have really added up. I checked the balance for the first time the other day and found that I had over $1000 sitting in my account that I didn't have before.
Just one way that I 'save' money.
Zelo
Zelo 2 responses
@dreamy1 (3811)
• United States
23 Apr 11
I recently started breaking my checks into percentages for each saving goal. I have ING and it's easy to have sub accounts for each goal. I have X percent going towards debt, savings, car, vacation, charity and misc. I don't go this with every single check. I have another account that's my primary account and that has enough to cover rent and other bills like cell phone and food.
Math was not my best subject in school but how do you get 12.42 from 1562.42? I understand .42.
1 person likes this
@zeloguy (4911)
• United States
23 Apr 11
The $12.42 takes me to a "round" $1550. I try to put somewhere between $5 and $20 for each transaction. It's an arbitrary number. It could have been $2.42 or $.42 or whatever I wanted it to be.
Breaking down how much money goes towards what is not only a great way to save money but also a great way to budget it.
Great job
Zelo
Zelo 
@stephcjh (38473)
• United States
23 Apr 11
That is what we do also plus we take the extra money saved and pay some debts off. I figure things up and buy what we want and need and the rest gets saved or pays extra on some debts.
