I put it all in a high-yield savings account (Wealthfront, for example)

Nov 19, 2019
12:50:32pm

inertiaman All-American

and then I use excel to break the balance into different categories. When I get interest, I allocate it as I see fit. If I make a deposit or withdrawal, I pull it from whatever category makes the most sense.

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inertiaman

Bio page: inertiaman
Joined: Dec 2, 2002
Last login: May 5, 2024
Total posts: 7,841 (1,246 FO)

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Messages

Author

Time

How do you bank when it comes to saving up for specific goals?

Cougarrr

11/19/19 12:16pm

Disneyland visit fund. Excellent idea

Mayor of Cougartown

11/19/19 12:16pm

Chase-Disney. Then you just use the rewards as cash when you are ready to go.

Bert609

11/19/19 12:19pm

to clarify, you can use the points obtained to buy park tickets?

Mayor of Cougartown

11/19/19 12:32pm

I just googled. YES!! but unclear why wouldn't just get a 2% back card and use

Mayor of Cougartown

11/19/19 12:36pm

Nothing. Absolutely nothing. That's why we have the $50 card now. The difference is this: If you occasionally

Bert609

11/19/19 12:46pm

It's worth it when they are offering a nice bonus. Otherwise it's not the best

Cougarrr

11/19/19 12:46pm

ok thanks. I'll keep an eye out for a good promo otherwise probably pass.

Mayor of Cougartown

11/19/19 12:48pm

Yes the Disney Card is very niche, if you aren't into Disney parks it's almost not worth it at all.

Bert609

11/19/19 12:48pm

Yessir. We have both cards, we got the free one to try it out and it worked for us, so we went for the $50/annual

Bert609

11/19/19 12:43pm

haha.. strong endorsement.

Mayor of Cougartown

11/19/19 12:46pm

I wish banks had a folder like system where I can move money around into

mudpupper

11/19/19 12:17pm

Exactly!

Cougarrr

11/19/19 12:18pm

Nothing is stopping you from doing it yourself

BigTex

11/19/19 12:19pm

I like actual separation of the funds. But you are right.

mudpupper

11/19/19 12:20pm

That's the workaround - but it's not as "official"...can't think of the word.

Cougarrr

11/19/19 12:21pm

It takes more discipline

BigTex

11/19/19 12:21pm

Ally just announced this yesterday

molodyets

11/19/19 12:24pm

Cool

mudpupper

11/19/19 12:26pm

I use CapitalOne 360 because of the sub folders you can create

DC12

11/19/19 12:26pm

I have multiple savings accounts with different goal oriented names

LiveCoug

11/19/19 12:18pm

Same here and it works well for us

Mexicougazul

11/19/19 12:19pm

I fake it.

Eddie

11/19/19 12:19pm

My income is A. My investing B. My expenses C.

Pimpin4Paradise

11/19/19 12:22pm

RE: My income is A. My investing B. My expenses C.

tjngirlz

11/19/19 5:42pm

EXACTLY what came to mind to me too. Ha!

Eddie

11/20/19 10:22am

I have close to 20 savings accounts, each earmarked for specific things like

molodyets

11/19/19 12:24pm

I started using Acorns a little over a year ago. It rounds up charges on your

Tonto

11/19/19 12:26pm

Ally bank has a system

Envisionman

11/19/19 12:26pm

This is exactly what I'm looking for. Hopefully it's soon.

Cougarrr

11/19/19 12:31pm

You need a budget (YNAB) app is pretty good for this. It takes commitment from

Nuke

11/19/19 12:31pm

First get an emergency fund. Once you have that, just put everything into a

Baron

11/19/19 12:31pm

I put it all in a high-yield savings account (Wealthfront, for example)

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