EP. 03 how to organize your bank accounts

 
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In this episode I'm sharing how I organize my bank accounts, what has worked best for my family as we paid off our debt, + give you some real-life examples to help you get started organizing your own bank accounts. 

 
 


In this episode, Sami talks about:

  • The Cash System vs. the Debit Card System (My organization system can work for both!)
  • My accounts
    • Bills Account (w/ debit card + checks)
    • Spending Account (w/ debit card + checks)
    • Savings Account
    • Cash Savings (Just a little bit of cash stored at home for convenience.)
  • The flow of money
    • Paycheck is deposited straight into our Bills Account
    • Leave just enough to pay that pay period's bills + $10 buffer
    • Transfer over only our spending allowance to our Spending Account
    • Whatever is leftover goes straight into our Savings Account
    • Then our Savings Account is broken down into our Emergency Fund, Sinking Fund, + our Next Goal Fund
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  • Bills Account
    • Examples of what goes into the Bills Account
    • Why I include a $10 buffer
    • Why I love this setup
  • Spending Account
    • Examples of what goes into the Spending Account
    • How to divide up your spending money
    • Why you should be realistic, but also challenge yourself
    • Why I love this setup
  • Savings Accounts
    • Examples of what goes into the Savings Accounts
    • Why you should put money into savings on payday
    • Break down of different types of Savings Accounts
      • Emergency Fund
      • Sinking Fund
      • Next Goal Fund

Memorable Quotes:

"This has been a total game changer for our family."

"There's really not much difference between the cash system or the debit card system, it's basically about the organization of your money."

"This is how real people save up + pay cash for large ticket items...they write it on their goals sheet + have a place for it in their Savings Account."

Resources Mentioned:

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READY TO GAIN FINANCIAL FREEDOM
+ BREAK FREE FROM SURVIVAL MODE?

I'VE GOT EVERYTHING YOU NEED!

  Your Sunny Money Method   Full Budgeting Course

Your Sunny Money Method
Full Budgeting Course

  Budgeting Starter Pack   Set of 14 Budgeting Worksheets

Budgeting Starter Pack
Set of 14 Budgeting Worksheets

  Take Control of Your Spending   FREE 5-Day Email Course

Take Control of Your Spending
FREE 5-Day Email Course

  Things I Love   All of my favorite resources

Things I Love
All of my favorite resources

HEY I'M SAMI WOMACK

I'm the wife to my high school sweetheart, Daniel, + homeschooling momma to our 3 girls. I'm the Budgeting Coach + Motivational Speaker behind 
A Sunny Side Up Life
.

My family used to be in $490k of debt + living paycheck-to-paycheck, but after we hit rock bottom everything changed for us!

Now that my family has become debt free + gained financial freedom, I want to help your family do the same! My passion is inspiring women to live abundant lives through budgeting, intentional living, and positive thinking.

I offer a jump start into budgeting with my free 5-day email course + full budgeting experience with my course, Your Sunny Money Method.

GET TO KNOW ME BETTER

Come follow my day-to-day life over on my Instagram Story