Anything you need to save for can go in here, things like:-

Again as with bills, you know that Christmas happens every year, so it makes sense to save 1/12 of what you approximately spend at Christmas each month so when it comes round you have enough money. Same goes for holidays etc…

This sort of planning can also really help you to see whether you can actually afford to spend as much on things, giving you more control back over your finances which can only be a good thing.

Day to Day

Basically everything else that you need to spend on:-

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Set a minimum of 3 accounts in the above categories to start

Setting up a minimum of 3 accounts for these 3 categories can help by keeping you more in control of your budget and so that you are more aware of what you have available to spend.

Basically have your incomings set up to go into one of these accounts (I use BILLS as this is the most important of the 3 and your bills need to get paid first)

Then set up monthly direct debits into the other 2 accounts for the amounts you need to have in them (based on your own budget). These then become bills for yourself, and then you can forget about your savings until they are needed and just concentrate on your day to day account – where you only have access to what you need (and hopefully this coincides with what you can afford, but that’s a post for another day….).

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Do you need more accounts?

You may prefer to take this concept a step further and create extra accounts to further divide up your money, and this would be dependent on your own circumstances of course.

Some ideas would be:-

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Is it really worth it?

Yes, it will take a little time sorting this out, but I truly think that it  IS worth doing – for so many reasons:-

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Try it out!

Are you trying to organise your household budget? 2 or more accounts could make life so much easier - here's how...Why not try this system and see how it works for you, especially if you are living on a budget and want a little more control over your money.

Set up the 3 accounts BILLS / SAVINGS and DAY TO DAY first, and then add extra accounts as you see fit.


I would love to know if you do something like this already, so please leave a comment below – thanks in advance!



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  1. Great post! I started doing his last year so that my self assessment tax bill wasn’t going to be as painful to pay on January 31st! Each month I put a set amount in to a “tax account”. It’s kind of like my own personal PAYE account for my self employed tax and national insurance.
    I’m now sure they’ll be enough to settle the bill. As a bonus the account it’s in has a good interest rate too so I benefit from that too.

  2. I’m too scared to go near a credit card, but I have 5 bank accounts, one for every day and weekly direct debits, one for bills like rego and phone bill, one for holidays, one for my future plans (2-5 years), and one retirement account. Its brilliant makes it so much easier, if it was all in one I would have spent everything I can guarantee (I’m a shopaholic)

    • Hi Nicole – really glad that you use this method to such great advantage – thanks for sharing x

  3. You only mention bank accounts – could you do the same approach, but using Credit Cards for different purposes – then pay off the monthly balance to avoid getting into any financial trouble?

    • You absolutely could – just have to be very careful with credit cards as you said though as you wouldn’t want to suffer charges that would outweigh the advantages…

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