I’ve been budgeting and saving for many years.
With that comes picking up on tips and tricks, and learning what strategies work and don’t work.
I’m a firm believer in the notion of one savings account per goal.
Not only does this keep you organized, but it also keeps you on top of how close you are to reaching that goal.
I currently have 7 primary savings accounts.
Each of them has a specific purpose and a specific strategy behind them.
In today’s episode, I’m breaking those accounts and strategies down.
I’m doing this to inspire you to get strategic with your own savings accounts.
I also want you to get an idea of how I think about saving – in the hopes that you’ll take what works for you and thrive!
Here’s a glance at this episode:
- [02:10] Before taking City Girl Savings full-time, I had a goal of saving 15 months’ worth of expenses.
- [04:10] I keep my emergency fund in a high-yield savings for a few reasons: extra interest, liquid cash and not easy to instantly transfer.
- [08:50] I never keep more than a few thousand dollars in my travel savings. Because of this, I keep this account close to my checking for easy access when booking.
- [14:32] Any savings account of mine that’s linked to my checking has a specific purpose. I don’t touch those accounts unless they’re needed to fulfill their purpose.
- [19:05] I use Betterment for my long-term investment accounts. It’s user-friendly and I love their “goal forecaster.”
Rate, Review, & Follow on Apple Podcasts
“I love Raya and City Girl Savings!” <– If that sounds like you, please consider rating and reviewing my show!
This helps me support more people — just like you — to make the best money moves as they make their way to their dream life.
Click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode!
Also, if you haven’t done so already, subscribe to the podcast. So many great episodes are on the way and, if you’re not subscribed, there’s a good chance you’ll miss out. Subscribe now!
Resources mentioned in this episode:
Online banks I recommend: Synchrony, Ally, American Express Bank
Listen to Episode 30 – Vacation Planning on a Budget
Get your question answered on the podcast! Ask your question here.
6 Signs You’re Saving Too Much Money
Struggling with your finances? Request a call with me (and get a budget)!
Follow City Girl Savings on Instagram
Follow City Girl Savings on TikTok
