50 Comments

  • Nikki Jeske
    Reply

    Thank you Melea for sharing you tips with us. My question is do you have your income go to one account and then you transfer it or do you have it go to the account you want it to automatically?

    • The Melea Show
      Reply

      +Nikki Jeske Great question! I have all of our income go to our Regular Checking account and then start moving it to the right accounts. Then whatever is left in that account, I know we have as "Extra". Hope that helps!

    • The Melea Show
      Reply

      +Meredith Wurm You can budget a set amount for gas & groceries each month and put it into your Bills account. That's probably the easiest option for most people!

  • Brittany Humphrey
    Reply

    If you dont mind me asking what bank do you use that allows you to have that many accounts. I am in utah and i have not been able to find one.

  • Amanda Blanchard
    Reply

    I do something similar but I just have 2 bank accounts and I use a spreadsheet to keep it all in order. Love this tip though!

  • Tina McComber
    Reply

    Okay, I love Melea, but am I the only one that thinks this is completely crazy and unnecessary? And she's not the only blogger that suggests insane amounts of accounts. And what bank lets you have 10 accounts anyway? Definitely not Wells Fargo. My budget is super easy to keep in check using one checking, one savings for emergency, one savings for vacations (at a different bank altogether so I can't see it), savings for each of my kids, and the YNAB program to keep our budget in line throughout the month. Easy Peasy.

  • Jennifer Luce
    Reply

    When you say you put 10% into the Fun and Regular checking accounts does that mean 10% from your total income or !0% after tithing and bills?

    • The Melea Show
      Reply

      +Jennifer Luce I do 10% from total income into FUN and 10% from total income into Regular Savings. But you can do whatever is feasible for your income. To keep putting money into those accounts it the important part!

  • Karen Y
    Reply

    Great Video! How do you set the accounts up with multiple banks? Do you keep main stuff with one bank and the additional stuff with another bank?? I would love to know more about what you think with investments and the different types of accounts for savings, dependent savings accounts, c/d's money markets?? Also what do you think is the best account to set up for small children? Thanks so much! Been following you for years! Loves!

    • The Melea Show
      Reply

      +Karen Y We keep all of our accounts with the same bank. It's an easy way to see all of our accounts in one place. As far as investments and such, I think it all depends on what you want your money to do for you. So everyone is totally different. So Maybe I should do a video on that too? For small kids, I would just set up a Savings Account–they are too young to understand a checking account. Just my opinion though! 🙂

  • Jenna Szoke
    Reply

    Since you transfer money for bills into an specific account every week, do you use the equal payment plans for your utilities? Having those bills fluctuate every month kills my budget, but my hubs doesn't trust the equal pay plans.

    • The Melea Show
      Reply

      +Jenna Szoke We don't use equal payment plans for utilities. And utilities is a little trickier. In the Summer, budget more for Air Conditioning and a lot less for your gas bill. Then switch when you start turning on the heat. You'll have to tweak. But I would recommend over-budgeting for it. If you have extra in your account at the end of the month, you can move it over to checking or FUN savings–whatever you want!

  • Debbie Taylor
    Reply

    I have used the multiple checking/savings account system for years and love it. I set mine up using the Dave Ramsey system (his envelope system) and it works well for us. Mountain America helped me with the set up. Thanks for some new tips!

  • The Melea Show
    Reply

    +April Stanfield For some reason, it won't let me reply directly to your comment. We bank with Chase and they let me transfer from Business to Personal as many times as I want. :)

  • Maria Sanchez
    Reply

    where do add your grocery bills expenses. . do you use the bills accnt when you go on grocery trips??

  • Jessica Buck
    Reply

    I have been doing something similar for years! People are always surprised when I tell me how many accounts I have! Thanks for the video it gave me some ideas on how to improve what I was already doing!

  • Melissa Lewis
    Reply

    I love this!! I really like using the cash/envelope system but my husband hates carrying cash around, I think this would help us to know what we have to spend vs. what money is being used for bills. But question, what's the value of having a separate account for tithing? Would I do as well to put that in the "bills" account? Or is it for tax purposes?

    • The Melea Show
      Reply

      +Melissa Lewis I like having a separate account so when we pay Tithing online, I know that no other bills coming out will take that money. I guess it's more of making sure that Tithing gets paid no matter what. 😉

    • Morgan Peyton
      Reply

      That's what God wants us to do. HE actually owns it all, but he only asks for 10% in return, that still leaves 90%! And giving to the church is a wonderful thing, it's called tithing😊

    • Katrinas Space
      Reply

      How did he communicate this to you? :S I get donations to support the church but a specific demand is something I do not understand

    • Morgan Peyton
      Reply

      It's actually in The Bible. "Bring the full tithe into the storehouse, that there may be food in my house. And thereby put me to the test, says the Lord of hosts, if I will not open the windows of heaven for you and pour down for you a blessing until there is no more need." Tithe aka tenth.

    • The Melea Show
      Reply

      No, I don't. I don't need them. I only have cards for the Checking Account and Bills Account. Everything else I can transfer digitally. Hope that helps!

  • Nicole Nelson
    Reply

    Thank you Melea! We have a separate account for tithing already, or else we get into trouble 🙂 And our kids savings. But I am calling my credit union now, I'm determined to take my family on vacation every year like when I was a kid and this is going to help me!

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