Current Fav: Banking Edition

Since on of my major goals is to get my finances in order, I have been reading a lot of finance based books. I loved “I Will Teach You to Be Rich” by Ramit Sethi. One of the things he stressed that people need is a system.

I have been rather stubborn with a spreadsheet and a Qapital account. I always say that I want the hands on to keep track of my finances every month. And then at the end of the month, I am overwhelmed by the transactions and dont want to figure out where all of the transactions went.

So I simplified! I already had a Ally savings and spending account open. The really nice thing about Ally is they allow you to create buckets. So instead of the buckets being in an account outside of my checking account, now the buckets are right there in my spending account.

This has already simplified my life so much. I created buckets for every one of my budget items and then when the transactions go through I can bucket them (over time you can specify that you want a specific vendor to automatically go to that bucket as well).

I am really excited to see how this system works for me. Keep it simple and keep achieving your goals.

Ally.com if you’re interested in getting an account of your own!

Let me know if there are other budget tips you have or if you like the finance talk @mypersistenceproject or email me at mypersistenceproject@gmail.com

xoxo,

Lexi