Why have separate accounts for your finances?

Stacked Intent

Today we are going to talk about why separate accounts can help with your finances and spending plans if you are in your budgeting alone or have a partner this will help you to find ways for your money to work for you instead of always working for your money.

Brief Summary of objectives:

• Learn all about what a checking account is, types of checking accounts and how you can go open one!
• Learn all about what a savings account is, types of savings accounts and how you can go open one!
• Learn all about how different accounts can help your overall budget.

As you are setting up your spending plan / budget, the recommendations can look like you have 50% of your money that is going toward your needs, 30% that is going toward your wants, and 20% that is going toward your savings. This will help you with the categories to include as you are working toward your future goals. This is why we are going to talk about different accounts and then I am going to share the method I’ve used solo in a budget and then how we combined in our marriage for making sure our money is present in the places we need it to work best.

Challenge: Now that you understand the benefits of having separate accounts for managing your finances, it's time to take action. Start by evaluating your current financial situation and identify areas where separate accounts can help you organize and optimize your budget. Challenge yourself to take control of your finances today by setting up separate accounts for bills, spending, and savings, and watch how quickly you can achieve financial clarity!

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Chapter

1. Why have separate accounts for your finances? (00:00:00)

2. Topic 1: Checking Accounts (00:03:12)

3. Topic 2: Savings Accounts (00:08:06)

4. Topic 3: Why do you have different accounts set-up (00:09:58)

5. Call to action (00:17:44)