For example, I'm currently saving my money up for college, it's community so 2000 can get me 1/2 years needed. (I'm 19 btw, took a gap year and am currently with parents so living expenses arent an issue)
I have 2000 in savings, will make a around 240 a month with a 9/hr job. I deal with depression so this is the most im trusting myself to.
Anyways, I'm giving myself a max of $50 per week for gas, food, and entertainment (This means anything from video games and movies to desk organizers and planners, currently my Spotify subscription is set up to this too, so if it fails I don't have Spotify premium for a little bit, sort of a punishment system I guess, it may change if it's too much of a hindrance) if I want a game that's $60 I utilize the wallet of whatever game store im using to purchase the game by putting in like $15 on a week im not doing anything.
So what I'm doing is taking my weekly paycheck of (on average) $120 and splitting it 50/50 with my savings and checking. Then taking that $60 from the checking and using it to refill my cash account back up to $50.
I'm trying it out but I want to know if anyone here thinks it's a good idea too? Or is it too much?
Edit: Forgot to add, once I get my checking up to 1500 (on top of saving half my paycheck into savings) I will move 1000 into my savings, keeping my primary checking account at 500 to handle potential car repairs and unforseen purchases.
Submitted August 11, 2020 at 11:52PM by Institutionation https://ift.tt/3iBnLLF
