accounts and envelopes and wallets OH MY

I love pay day. It's my chance to move the cash around into each lil spot I put it. Perhaps in a subconscious way it makes me feel wealthy for a moment.

I have four accounts at two banks. There is a primary chequing and savings at one bank and another chequing and savings and bank 2. Bank 1 is the main account. That's where the money comes in, the bills get paid, groceries are bought etc. There is precious little in the savings at that account. I pay for gas on CC to get the airmiles so I temporarily 'store' the gas portion of my budget there so it is intact when it comes to pay the CC. I do this with a couple other categories as well.

The second bank accounts I started about three years ago. I was having great trouble saving and when big bills would come in for the boys school fees, their sports fees, music fees etc, that money was never there and I'd go in the hole. I started this chequing account and made it a point to deposit a set amount into this accout the day after payday, each month. Then the money is there and kept quite separate from the others. The savings account at Bank 2 I just opened. I needed an account I don't regularily access so I could begin this much needed Emergency Savings Fund. My initial goal for that fund is $1000. I currently have $400 in it thanks to a bit of frugality last month. I don't anticipate things growing too quickly here as I am focusing on debt repayment.

All of these accounts are in my name only. I appreciate knowing that there won't be any surprises when I go to pay for something and find myself short of funds, as I was before when we shared an account. He has no objection to these accounts. We have had separate ones since Day 1.

I have a fifth account which is joint, but really his. I have access to it, I can go to the bank and deposit or withdraw, I can write cheques on it, but not a debit card. Since I don't contribute to it, I never use it.

Sometimes I wonder if my many accounts helps or hinders. I sure appreciate the 'hockey account' as I call it, though the boys are in more than that LOL

I have also taken out my own 'allowance' and have 4 weeks of envelopes ready to go for that.

It' s complicated but it seems to work for the most part.