HomeЛюди и блогиRelated VideosMore From: Wander Wealthy by Tess Wicks

How To Organize Your Finances with Multiple Savings Accounts

280 ratings | 10974 views
I'm sharing exactly how I organize my money using multiple savings accounts to control my spending and save for short-term goals. JOIN THE WANDER WEALTHY COMMUNITY: www.wanderwealthy.com/FB RESOURCES MENTIONED: The Bank I Personally Use: http://www.wanderwealthy.com/allybank Get Personal Capital to automatically calculate your net worth and organize your finances: http://www.wanderwealthy.com/PersonalCapital Listen to the Words and Money Podcast: www.tesswicks.com/pod I'll walk you through how to organize your finances by saving for emergencies and pre-saving for big purchases that happen throughout the year. What savings accounts will you be opening? SUBSCRIBE for more: http://www.wanderwealthy.com/YTSubscribe - - - - - - - - - - - - - - Want to chat!? Follow me: https://www.instagram.com/tess_wicks/ https://twitter.com/tess_wicks Hey I am Tess Wicks, I’m a financial educator and coach and the founder of Wander Wealthy, a channel and community helping women in their 20s and 30s get inspired and get results for their personal growth, money and travel goals. On this channel I provide educational and lifestyle content around personal development, personal finances, and exploring the freedom of travel. FTC: Not sponsored by any of these companies, but some links mentioned are affiliate links.
Html code for embedding videos on your blog
Text Comments (37)
denise dibella (1 month ago)
Not sure why this video intended is only for people in their 20’s and 30’s, why would you exclude the rest of the age groups in your introduction?? Makes me not want to watch any of your videos, especially when there are so many other videos out there on budgeting!!
April Behnke (2 months ago)
Great advice, as usual!
Dieu-Hanh Huynh (2 months ago)
This video has your voice goes in and out
Knightyknight (3 months ago)
You have videos on using credit cards for purchases then using ur checking acct to pay off balance to build credit.. or avoid credit cards altogether when possible?
I don’t believe I have a video that answers this question directly but I’ll add it to my list!
Knightyknight (3 months ago)
I’m a guy and love these videos
Thanks for watching!
Ginny (5 months ago)
Ally is a great online bank option!
Robert Crain (5 months ago)
Many years ago accounting 101 sinking fund, ie pre saving for future expenses, good idea most Americans have no idea, they just buy items and pay the monthly fees. One of the items I did not hear you talk about is retirement. By starting to save for retirement when in 20's you have more years and compound interest to help you in your mature years. The other item is saving for a down payment to buy a home. That is a big one. Also most people buy their autos over time. It seems as if they depreciation on most cars is faster than you pay off the loan. Pre saving for a car keeps you from being underwater with your car value. Debit can be good but too much debit can sink anyone.
Oh I LOVE to talk about retirement! I just don't talk about it in this video because although you "save" for retirement, you don't "save" into a "savings account" it's through an investment account! Which I talk about in some of my most recent videos! And yes, I agree - I'm pro "buy a car in cash" instead of using debt. As for the home, I don't think buying a home is right for everyone, so I don't have that as an option, BUT some of the goals I save for (like travel and other people's weddings) can easily be swapped out for a home buy or a car buy savings goal!
Samantha Townsend (6 months ago)
Totally needed this video
This is my favorite thing about managing my expenses! Some might think it feels overwhelming, I feel COMPLETE when I transfer money to each savings account every month! :)
ogeid nomar (6 months ago)
Hey, hey you have men in the audience hehe... Great advice!!
your audio went a little weird on this video
Good to know I talk with my hands in my videos as well. looks like I will be starting with more shotgun microphones.
Minnie OnCam thanks for watching and apologies again for the audio (I pointed it out in the video when it started going weird) Ugh, I guess that's what I get for wearing a mic and always talking with my hands! Lol
mrsmir (11 months ago)
Can you please help with regular checking accounts? For paying monthly bills. Cell, water, internet..etc plus groceries
Absolutely! What kind of help are you looking for? How to manage those expenses within the checking account?
George Torres (1 year ago)
Do they have a location in their website that breaks down your spendings like mint.com does?
Ally doesn't... I know some banks do but none that I can find off the top of my head. I don't personally track my spending automatically because I use the anti-budget (www.wanderwealthy.com/antibudget) but if I ever want to see an aggregated breakdown of my finances I like to use Personal Capital.
Danisha Khrizten Sule (1 year ago)
Very helpful! Thanks for this video☺️
Thanks for watching!!
wise man (1 year ago)
Eating a hamburger or hotdog ect you rarely stain your shirt one day you do, and that stain refuses to come out Stupid mistakes fund will come in handy lol
wise man haha great thinking! My stains are always coffee stains 🙈☕️🤷🏼‍♀️
whatever pare (1 year ago)
i also have multiple accounts (oh sh*t1 and oh sh*t2) but never knew how to use/maximize them. thanks for these tips. i found you on your minimalism + frugalism video. great channel.
whatever pare (1 year ago)
i agree, i like that suggestion ill be testing the waters first and see what comes out of it. i was also advised to read and research on it before diving into it. yes a video would be nice. love your content im following.
I'd like to clarify something first. What do you mean by "trading stocks and bonds"? Here is why: I would highly recommend taking a passive approach to investing. Meaning, invest in index funds (ETFs) of stocks and bonds at the allocation percentage of your age and risk profile. Set it and forget it. Only rebalance if your allocation gets out of wack, or every year if the market isn't seeing major changes. Your investments for the long-term can be anywhere from 10-20% of your income. Investing to make money is a long-term game. If you're interested in actively trading stocks and bonds for fun, then maybe just take a small amount of money, like $1,000, open a brokerage account, and play with that. You can slowly add to it, but I would say active trading of individual stocks and bonds should not be a strategy for building wealth. Most people don't make money when they actively trade, and even the most brilliant traders never beat the index (which is what you will be mimicking if you invest in an index fund/ETF). I hope that makes sense! If not, I'll be doing a video on this in the coming months!
whatever pare (1 year ago)
im planning to use 1 account for trading. ive open an account with a firm but i dont know how to start. may question is what percentage of my income do you think its safe to start trading stocks bonds. not sure if my question makes sense.
whatever pare thanks so much for watching. Hopefully I can provide you with some ideas on how to maximize your accounts. What questions do you have?
Cody Alan Jones (1 year ago)
Helpful for men too lol
Absolutely Cody! I'm glad you find it helpful :D
Linnie H. (1 year ago)
Nice info and presentation, background music a bit loud and made it kinda hard to listen.
Little Miss (1 year ago)
I'm so glad I found you!
Micheal Carol (1 year ago)
Money Gram Fund..Western to make money..No Money For Ground payment I work with 100% Sure NOT A FOLKS.. Buy Account with Good balance if you can make fund by yourself. He Sell with Bitcoin,web money and Perfect money,I hack WhatsApp,IG,Facebook,SnapChat,Gmail,Yahoo,Viber.ICQ and IMO,Call logs, Skype etc,Server crashed hack, Sales of Spyware and Keylogger software, Retrieval of lost file/documents,Erase criminal records hack.University grades changing. Remove of link from website.My job goes without Traces Contact me here: [email protected] Text: 3362524109 [email protected] Account needed urgently.. RBC.USAA.BECU.DISCOVER BANK.SUN TRUST BANK.Mountain American FCU.Chase.Wellsfargo ETC
Me too! :) Let me know which types of videos you like best!
Meagan (1 year ago)
Absolutely love your videos! So helpful and inspiring!
Thanks Meagan! Let me know if you have any topics you'd like to see be featured.

Would you like to comment?

Join YouTube for a free account, or sign in if you are already a member.