A cluttered financial snapshot is always more difficult to deal with than one where each account has a clearly defined role. However, it’s understandable for a family to have a couple extra accounts from before the marriage or even due to some amazing new customer specials that made it tempting to open more accounts for free money. Regardless of how the checking or savings accounts were opened, it’s time to consolidate and make life easy again.
This may sound counter-intuitive so hear me out. The psychology of looking at what is due on your credit card go up tends to be more engaging than watching your checking account go down. It changes the thought process from “my checking account is at X so I have $400 left to spend” to “wow, I’ve already spent $600 this month.” Since the amount in your checking account is always going to be changing, it ends up being a poor tool for tracking.
We can assume the fixed expenses should be easy to keep track of month-after-month given that these expenses should not vary much. By reviewing past bills and statements, you should be able to budget for fixed expenses each month. However, the variable expenses tend to be more complicated as they can change dramatically from month-to-month. To keep track of these, I suggest using general categories versus detailing out each expense.
In a perfect world, all you would need is one checking account in which all of the household income flows into and out of. This provides clear visibility of the entire budget, whether you’re single or married. Once this account is set up, all your fixed expenses, such as rent, that aren’t paid on a credit card and don’t fluctuate much should all be paid through this one visible account.
I recommend calling your credit card company to change your billing statement date to the first of the month. This way, at any given time, you can log in and view your balance “Since Last Statement” to see exactly what you have spent during the month. This will help determine how you are doing throughout the month relative to your compiled budget.
That must be it. A few days ago did see my credit card total spent figures, paid yesterday and surprise, not that I could prove it to my bank, as a prank it is not ~200€ below limit, it is instead 5095.34 = E.Oi E.C.D. because they can. They do that all the time. Not calculated.
lol which mony
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