Skip to main content

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 

Comments

Popular posts from this blog

How to Declutter your Home and Keep it that Way

Time to declutter What helps me destress, be productive and keep myself organised is getting rid of all the bits and bobs i keep laying around the house. Yes, that drawer full of crap and all the kids toys that keep mounting up after Christmas and birthdays. I start with 4 bags; charity, selling, friends/family and bin. You don't have to do all of these in one day, pick a room or an area for one afternoon while the baby sleeps and the toddler is settled with snacks and a colouring book and get busy. *Rooms* Bathroom- the cabinets, products you dont use or are out of date, bath toys, etc... Kitchen- food packaging, out of date products, pots and pans you don't use or need to replace Living room- the mounting of paper work hidden in drawers, kids toys, shoes, etc... Dining room- ( same as above) Bedroom- clothes you don't wear, brought but never used, old bed, bedroom drawers and tables, worn out shoes (good quality shoes can be repaired fairly cheaply s

Money saving Hacks | Christmas | 2020 edition |

It's that time of the year...   Remembering all the kids Christmas activities, nursery and school nativity plays, Christmas gift shopping, scheduling friends and family to come over during the holidays, teacher gifts, phonics, cooking the Turkey....   1- Plan Christmas a year to 6 months in advance  I know this sounds nuts but honestly knowing what is happening and who you're visiting makes it a lot easier and less stressful.  2- Buy gifts in the boxing day and January sales. Buy and stock up throughout the year on all the sales. It's amazing how much money you can save by doing this. I manage to save up to £200/£300 by doing this each year.  3- The things you don't think of buying in those sales. Wrapping paper, christmas cards, tape, gift tags, gift bags, Christmas arts and crafts for the kids, stickers, advent calendars (the non-chocolate ones) I brought the Harry Potter charms bracelet advent calendar and frozen 2 advent calendar in Sainsburys

5 creative ways to make extra money

1- sell unwanted items Is it time to do a clear out? Need a little extra money? Sell those trousers you've not worn in 3 months and sell the dress you've only worn twice.  Make sure all items are washed, no marks and no rips etc... these are all things that will help you in the selling process. Take lots of photos of the items, compare on other selling sites to make sure you check out your competitors. Good places to sell are facebook pages, Ebay, depop, Amazon, car boot sale and friends or family  2- creative skills  Are you creative with woodwork, clay, jewellery making, etc... if so put these hobbies into a place online and sell them! Don't forget to charge for materials, hours per day, time to take photos and uploading,etc. 3- teach another language  If you have a second language then good on you, another skill to write down on your cv! Launch a new website of what you can provide, zoom language classes, work sheets, online courses, etc. Make it clear on what you can pr