Comments on: Why Every Account You Have Needs a Name http://www.automaticfinances.com/saving-for-goals/ Money management for the 21st century Tue, 07 Feb 2012 06:31:05 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Ken http://www.automaticfinances.com/saving-for-goals/comment-page-1/#comment-40 Ken Fri, 24 Apr 2009 17:04:47 +0000 http://www.automaticfinances.com/?p=292#comment-40 I already have an ING account...I'm going to check on this multiple accounts thing. Keeping it all in one place makes sense. I already have an ING account…I'm going to check on this multiple accounts thing. Keeping it all in one place makes sense.

]]> By: Jennifer @ Money Saver 101 http://www.automaticfinances.com/saving-for-goals/comment-page-1/#comment-34 Jennifer @ Money Saver 101 Wed, 22 Apr 2009 14:22:30 +0000 http://www.automaticfinances.com/?p=292#comment-34 I don't think having multiple accounts is necessary. If having them in separate accounts helps you, by all means do it. But it's also possible to just keep excellent records of what the money is meant for, like a spreadsheet tracking the funds. Say you have $3000 in a savings account, you can have a spreadsheet detailing how $1000 is for emergencies, $500 for car insurance, etc... I don't think having multiple accounts is necessary. If having them in separate accounts helps you, by all means do it. But it's also possible to just keep excellent records of what the money is meant for, like a spreadsheet tracking the funds. Say you have $3000 in a savings account, you can have a spreadsheet detailing how $1000 is for emergencies, $500 for car insurance, etc…

]]> By: thomas http://www.automaticfinances.com/saving-for-goals/comment-page-1/#comment-30 thomas Tue, 21 Apr 2009 20:54:27 +0000 http://www.automaticfinances.com/?p=292#comment-30 Multiple ING accounts is a really great way to break out saving plans. Using spreadsheets to help "project" savings goals is also good. Sites like Smartypig allow you to save for a specific goal. Multiple ING accounts is a really great way to break out saving plans. Using spreadsheets to help "project" savings goals is also good. Sites like Smartypig allow you to save for a specific goal.

]]> By: lulugal11 http://www.automaticfinances.com/saving-for-goals/comment-page-1/#comment-28 lulugal11 Mon, 20 Apr 2009 16:50:39 +0000 http://www.automaticfinances.com/?p=292#comment-28 I love this idea and the fact that ING makes it simple. I was guilty of having one savings account and then when I found out that ING lets you easily make multiple sub accounts (with FREE transfers) I was hooked. I now have multiple accounts and like you said, the separation makes it work so that one account does not have to pay for the others. I love this idea and the fact that ING makes it simple. I was guilty of having one savings account and then when I found out that ING lets you easily make multiple sub accounts (with FREE transfers) I was hooked.

I now have multiple accounts and like you said, the separation makes it work so that one account does not have to pay for the others.

]]> By: Wojciech @ Fiscal Fizzle http://www.automaticfinances.com/saving-for-goals/comment-page-1/#comment-27 Wojciech @ Fiscal Fizzle Mon, 20 Apr 2009 12:47:09 +0000 http://www.automaticfinances.com/?p=292#comment-27 Very good advice. I have also heard of many people using a simple spreadsheet that totals each of their goal amounts within a single savings account. A little more work, but if you don't have ING at the moment - a viable alternative. I had this problem last year where I was dumping all of my cash into one account, and thought I could manage tracking everything. Unfortunately, I didn't use a good method and soon lost count of what was for what. Very good advice. I have also heard of many people using a simple spreadsheet that totals each of their goal amounts within a single savings account. A little more work, but if you don't have ING at the moment – a viable alternative.

I had this problem last year where I was dumping all of my cash into one account, and thought I could manage tracking everything. Unfortunately, I didn't use a good method and soon lost count of what was for what.

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