How To Budget With Prepaid Debit Cards
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- Опубликовано: 5 авг 2024
- If you have trouble sticking to a budget, a prepaid debit card can be used to control your spending on a single category. Think of it like Dave Ramsey’s envelope system but there’s no cash involved. And it is only to control your spending in ONE CATEGORY you always go over in.
I like to think of financial products as tools that can be used in different ways to make our lives easier. In this video, I talk about several scenarios where they can help: spending less money on addictions, teaching children to live within their means, and for keeping track of subscription services. There are several ways to incorporate prepaid cards into your personal money management system.
✦✦✦TIME STAMPS✦✦✦
00:00 Budgeting With Prepaid Debit Cards
01:15 Budgeting for Addictions
05:36 Budgeting for Children’s Allowances
09:31 Budgeting for Subscription Services
11:00 Final Thoughts
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This way of budgeting reminds me of the cash envelope method. I think this could also be a good way to budget for groceries each month. I know a lot of people like to use cash for budgeting groceries and day to day expenses, but especially with the pandemic and everything, me and my boyfriend have found it much easier to do a grocery pickup instead. But for that you need a card instead of cash. This could be another good use.
Good practical advice ! I was massively in debt many years ago and then forced myself to live on money that I had. I paid it off and have not used a credit card in ages. It instantly shot up my net worth as I had more money to contribute to a 401K, IRA, etc. Prepaid debit card makes way more sense than a credit card. One way of looking at it is that if you use a credit card, you can literally buy something and pay multiple times through interest.
Great video! Thankyou
What do I think of your content? I think your content should be required for all people to graduate from college. And it appears you're a great daughter and awesome sister.
Thanks for watching til the end! You are right. Everyone needs to take a course on money management.
Great video Annie.
Annie, Hi !!! I am so happy I found your RUclips channel !!!! I bought your book and it was awesome 👌 I learned so much. I have read it 2 or 3 times. It just covers so many important and essential topics. I give your book a thumbs up 👍 😊
Thank you so much for buying the book!
This is such great info! Thanks for laying all this out for us😁
Thanks for the video great content
I'm so glad you are assertive! Another idea is gift cards. I can't get my husband to stop eating out, and I am just learning to cook. I was thinking one month $50 gift card at say Burger King. We are trying to have more quick and easy oven meals.
gift cards are a good idea
Gift cards is great. There is no flexibility though so if he's not in the mood for Burger King, not sure how he will react.
@@AnnieMargaritaYang Hi
good info young lady- keep of the good work. :-)
Excellent video
Annie,
You are a good big sister! Thank you for sharing your wisdom on your channel.
👩🏻🍳🤗
Hi. Just want to say I like your videos and was wondering if you’d mind doing a video or videos about secure credit cards and your take on them.
I have three prepaid debit cards that are good for you
1. Cash app
2. Albert
3. Coinbase
4. Venmo
I meant to say for prepaid debit cards
about the overdraft protection, it's the overdraft "protection" itself that makes the money go below zero. If you don't have an overdraft protection, it will not go below zero, it'll just get rejected.
I don't know who named it that but it's like that.
it's a misnomer
HI Annie: I just started watching your channel. Thanks for the info on the prepaid cards. I heard the idea to use them for variable spending rather than cash from a budgeter on RUclips. Now I just have to find one that will be accepted at most places. How do you like Boston?
You’re welcome. Yup this is a great option for discretionary spending to set limits. Love Boston. Never want to move from here. Happy new year!
Question about your book: when you update your book, will the kindle version automatically update?
Yes, Kindle will automatically update. Couldn't afford an editor the first time around. Thanks to everyone buying the book, I was able to pay for an editor! The changes this time around will be small. A change to the introduction, fixes to grammar, and updates to statistics to reflect 2019/2020.
I overspending my prepaid how can I stop overspending on my all access debit card
What type chocolate was this was it ever on sale. Plz tellme
OK I am trying current current let you make multiple accounts and it’s called Teams what that means you can make an account for your teenager and so you can get them a debit card as well
what would you say is the best card for subscriptions?
None in particular. Use a separate card for only your subscriptions OR use an accounting software where you can pull a report of all the subscriptions you paid to date. I use the latter.
Did you know Bluebird has a Visa card? What do you think about it?
The VISA version is a bank account, not prepaid card. For the fees, I think better off to open up a local bank account. www.bluebird.com/legal/deposit-account-agreement
All you need is her birthdate to open an account with Current