Comments on: Money Tip: Save with separate bank accounts

By: Money Tip: Pay yourself first every Month — My Women Stuff

Money Tip: Pay yourself first every Month — My Women Stuff — Sat, 25 Sep 2010 01:01:54 +0000

[...] whilst its all good talking about saving money in separate bank accounts, or saving the small change the key idea is to actually have savings. And if you aren’t used [...]

By: Shay

Shay — Sun, 24 Jan 2010 09:27:06 +0000

I have a montly savings a/c. It automatically trf a pre-determined sum of money from my regular savings to that a/c. If I have any “extra” amounts in my regular savings, I will also trf there.

What motivates me to keep the funds in the monthly savings a/c is the teeny weeny bit higher interest rate and also forgoing the interest if I withdraw it pre-maturely.

By: ParisB

ParisB — Thu, 21 Jan 2010 02:58:14 +0000

I used to have a “bag fund” its now depleted LOL

By: Liz

Liz — Wed, 20 Jan 2010 12:32:44 +0000

I also do the separate accounts thing and it can be a hit-and-miss sometimes. =P There are too many things I want to buy! I’m also very determined with keeping track of my finances.

Another of my savings method that I don’t think too much about is keeping a piggy bank. But I don’t just put coins into it. I try to keep it active and put in notes so that it’ll grow bigger much more faster. I try to clean my wallet once a week so any spare change and small notes will go straight into the piggy bank. Occasionally, I’ll put in RM10 or bigger notes if I can spare any whenever I feel like it. I just recently deposited the money after keeping the piggy bank active for about a year and it totaled up to almost RM1100. =D It gives a small boost to my financial record and now I’m more motivated to keep the piggy bank active!

By: Ms. Blacklace

Ms. Blacklace — Wed, 20 Jan 2010 10:34:08 +0000

I’m so busy with work that I don’t even have the chance to spend money or do any shopping. Not even on-line! I mainly favorite my necessities and when I run I’m going to run out of them, I will re-stock.

The only time I ever get to spend is on public holidays or when I take annual leave.

Maybe it’s a blessing in disguise. Lol

By: thy

thy — Wed, 20 Jan 2010 09:32:17 +0000

hehe…my first thought is i dun apply the ATM card then i wont go to withdrawn $$, i hate Q, waste my time..So by this way, i can have an account which i can really save $$, but unfortunately i have internet banking for all my accounts which i can transfer my $$ to others account which hv ATM cards…* sigh
There are others way which can save $$~
1) save the $$ in Fixed Deposit, you wont have chance to touch it and can help you earn some interest! But you hv to plan well ur budget or else will face the problem when you really need it!
2) use credit card 1st & pay later, then use the $$ to do some investment which can earn $$ (maybe Fixed Deposit or share)~ Not only can get what you wan to buy but can earn some penny as well (rather than nothing)!

By: geekchic

geekchic — Wed, 20 Jan 2010 08:27:18 +0000

You and me the same, darl. We’ve got a bag obsession. That’s what my second account is for. In fact, when banks around the world started folding due to the GFC, I had a separate account-you know never put all your eggs in one basket kind of thing, I opened a separate one. So, I have 2 savings accounts and 1 everyday transactional one. THe savings accounts are for my bags and also downpayment for the property we’ve been dreaming of. As much as I dip in for the bags, I always replenish within x months. You never know when that dream property is gonna turn up

But as always, great tip!

By: ParisB

ParisB — Wed, 20 Jan 2010 06:26:00 +0000

Haha! I do the same thing. Save like crazy then think myself crazy for spending all that money on one item. Still reckon the 2.55 is worth saving for?