4 different bank accounts / money saving hacks!

*The four bank accounts*

Your own personal bank account- we both have our own bank account for gym membership, phone bill, clothes shopping, coffee dates, fitness classes and general pocket money.

The utilities bank account- This is where your main  bills come out of; The mortgage, gas, electric, water, t.v licence, insuranc, etc it all comes out of that here. This way it is the only account that money comes out. Some banks give rewards for each direct debit that comes out so you could move your gym and phones bills to this one if it benefits you. 

Saving bank account- This card should not be a debit card and set lower amount you can withdraw from ATM. Put money in straight away when you get paid or have come in from another account automatically before you even touch it.

Children's saving account/trust fund- Each month put a little away that goes into their accounts whether it be so they have their own money for holidays or saving for a car when they turn 17.

Food money- Not an account but you could set it up as one if you prefer not to carry cash. Now some people may find this odd, Michael certainly did to begin with but we keep a certain amount of food money in a jar. We budget each week some more then others due to baby formula (at the time), cleaning products, toiletries, etc it works pretty well. Keeping it separate also helps keep and eye on the bank flow and less spending and more saving!

*money saving hacks* 

No credit cards 

Keep an overdraft to a minimum or don't have one 

Put money aside from the savings account to do family activities etc 

The coin jar- Put all your spare change into a jar and keep it there till the end of the year (you can save
hundreds of pounds depending on what you put in). 

Buy in the sales- I've mentioned this before, buy items in the boxing day sales; wrapping paper, gifts, tags, products, world book day, Easter, Halloween ,etc

I hope these work for you, let me know how you get on!?

Mrs N.Duke