Tuesday, December 29, 2009

Tuesday Tip: Budget

One thing I do to ring in the new year is re-evaluate our family budget.  You want to account for every penny- know where it's going.

One tool I use is ING direct bank accounts.  I have a Orange Checking account to do my payments from (free bill pay- save stamps!), which is also an interest-bearing account.  The interest is 3x as much as our brick-and-mortar bank which I mostly use for ATM withdrawals and writing checks when I have to.  Our direct deposit goes to ING and then disperses among the savings accounts.  The Savings accounts are labeled with each category our family uses (mortgage+insurance, car+insurance, groceries, etc) .  It's my digital version of the "envelope system" so I can see what our balance is and see how we're doing on our spending.  There is no limit or minimum balance for the savings accounts.  And you can instantly transfer to the checking account when it's time to pay bills.  Be sure to only make a few transfers out each month

It also allows you to set up ROTH IRAs and ROTH IRA CDs and see everything on one page!

Email me if you would like a referral- only with a referral you'll get a $25 opening bonus when you start an account with a $250 balance!

No comments: