So yesterday I wrote about saving on groceries. Today’s post is all about budgeting. Reserving your money for specific goals before you spend it will help keep track of your money and stay within your means. My bank offers an online program which is able to keep track of all my expenses. Everything I’ve payed with my bank card and every bill that has been payed online is categorized. I can then set up a budget for each category. I log in weekly and see how much of my budget is left or which budget is already overspend.
In this bank program I also have the choice to budget my savings.
I have a savings account which is divided in several little piggybanks. I have one to pay of my student loan. At the end of the month, if there’s any money left in my account it automatically is transferred to my student loan piggy bank. It’s a huge amount of money so I’ve chosen to save the most here. I also have an online piggybank for unforeseen expenses, like when our washer stopped working after 8 years. I also had a piggybank for an enjoyable budget: vacation. We booked a week in Greece last week so it’s empty now. But I really want to fill that piggy again for next year. So these are some of my budgeting goals.
It helps me to keep hold of my money and it gives a secure feeling that I have some emergency money on hand when things get tight.
Do you have a piggy bank for specific budgeting goals?