Whenever we talk about budgeting, we usually discuss separating out your expenses into different categories. However, this is usually a mental exercise. Physically separating that money into separate accounts, though, might make budgeting easier.
Photo by David Goehring.
As personal finance blog Three Thrifty Guys explains in their 8-minute video course, using a two transaction account system allows you to keep one account constantly fed with the money you budget for fixed expenses. You can then use a second account for variable expenses and extra spending. The course has more details on how to set up a system like this at the source link below. The course is free, but the site will simply ask for an email address to share the video to.
7 Steps to Automate Your Finances and Gain Freedom — 2 Checking Account System Course Launch [Three Thrifty Guys]
Comments
One response to “Use The Two Transaction Account System To Automate Your Budget”
Yep I’ve been doing this for years, automatically transfer a set amount from my main account to my debit card spending account each week. It’s the equivalent of meal portion control.