I'm putting aside cash for when Halo 5 comes out. I'm guessing having an envelope full of cash under my bed and going to the atm with each paycheck probably isn't the best of ideas. Would it be a bad idea to buy a bunch of gamestop or amazon gift cards if you know the money is going to be earmarked for a specific purpose anyway? Or would it be even stupider to go to the bank and ask for rolls of coins and convert it back to cash when it's time to buy the xbone? Should I just open another checking account set up direct deposit and shred the debit card? There is a bank in same exact parking lot as the gamestop i shop at.
Saving Money Advice
- Thread starter el swordo
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SilentBob50023
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If you auto-deposit your paycheck, you could earmark a portion of it to be directed to a second account so that you never even see it or miss it. Say you already have a checking account with a debit card for using at the ATM. Open a savings account at the same bank, divert a little bit you won't miss each paycheck ($25, $50, whatever you can afford) through your payroll deduction and just let it build. Out of sight, out of mind works for a lot of people just starting out. Oh, and the harder it is to access your money, the better for situations like this. It only needs to be liquid at a finite point in the future.
That's actually what I do sorta. I have 2 bank accounts at the same bank one checking and one for disposable stuff. When it's payday I go to the grocery store buy a bottle of water or something with my debit card and get cash back then stick the cash in an envelope. Thing is it's too easy just to transfer money from the big one to the small one. That's why I'm thinking of just going with a bank that I don't have another account in.
bread's done