Budgeting and growing your money safely!

Living in Boston is not cheap! $5 for Cheerios! Yup, I have not eaten those in a year! However, I can happily say that I’m employed and financially stable with a great credit score! It’s not easy though, especially with my shopping habit, however I would like to share how I manage to make it work!

I have accounts at 3 different banks:

1. Bank A- 1 checking account & 1 savings account 
2. Bank B- 2 checking accounts, 1 savings account, 1 rewards credit card
3. ING- Orange savings accounts

So why so many accounts!?!?! Like I mentioned early, the shopping habit (problem?)- I needed a way to control my spending! I have direct deposit that deposits enough money in my Bank A account for the following:

1. Checking Account: Money dedicate to all bills that must be paid.  For me this means rent,     electricity, heat, internet, student loan payment, and gym membership. I also transfer a little money into my savings account as well!
2. Savings Account: This is savings, this is not to be touched, and I keep enough money here for emergencies.  Providing easy access to transfer the money to my checking account.

Next, I also have my paycheck direct deposit into Bank B:

1. Checking Account- Groceries/Food: I never know how much money I’m going to spend on    groceries or food so I have a dedicated account for it. By putting a certain amount of money here, I limit the amount of money I can spend on food.  However, if I don’t spend it all, I can easily transfer the money into my fun checking account! I never let this account get lower than $100, In my mind, $100=$0 (This is for security of course!)  
2. Check Account- Fun: Here is where the fun happens! I can do all the shopping, decorating,      wine tasting, racing, and adventure seeking I want……until there is no more money here of      course! Again, I try not to let this account dip under $100!
3. Savings Account: I keep money here to save up for vacations or big purchases! 
4. Credit Card: 1% cash back on purchases, 2% on groceries and 3% on gas! And it makes           banking fee-free!

Lastly, I have an ING Orange savings account! My favorite because I earn .8% Annually!  I also, make sure that I’m always transferring money automatically from Bank A & Bank B into this account in order to continue to grow my money! Do you, want to earn $25 and start earning money through ING, leave me a comment and let me know so I can send you a referral to ING Bank!!!

And that folks, it how you safely budget and grow your money!