The Perfect Setup for Every Married Couple's Checking Account | Anthony O'Neal
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- Опубликовано: 17 окт 2024
- What's up fam!? Today, we're talking about the money mistakes to avoid in your 20s, 30s and beyond. That's right! This is what NOT to do to get out of debt, how to stop spending money you don't have and how to find your God-given purpose.
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Hey, fam! I’m Anthony. I’m fired up about meeting you where you are in a real, relevant, and relatable way. Here on this RUclips channel, we’ll be having honest conversations about finding our authentic selves by living life based on spiritual, financial, and mental freedom. At the age of 19-homeless and deep in debt-I turned my life around by becoming debt-free, and I decided to spend the rest of my life helping people avoid the same money mistakes I made. Today, by the grace of God, that’s what I’m doing every day with AO Enterprise. You can rock with me on Instagram @AnthonyONeal or online at anthonyoneal.com.
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Married and have 4 accounts, all joint.
Primary Checking (bills), Emergency Fund, Sinking Fund (Misc not paid out of checking), and Household Maintenance Fund. Transfers with detailed notes of each transaction works great.
My husband and I bank with capital one. I can open as many savings and checking accounts as I want and they don’t require minimum balances. Im so detailed and particular that I opened sooo many accounts for specific things 😂. Let me break it down:
(1) Joint checking - this is just our regular spending account.
(2) emergency savings
(3) travel (checking)
(4) car maintenance (it’s an emergency savings ONLY for car situations i.e blown tire, oil change, spark plugs etc. So unexpected things)
(5) gas guzzlers (checking) - this is for our cars but our car note and car insurance comes out of this account (automatic draft) along with where we put extra money for gas if we need it randomly
(6) self care (savings account). For whenever I want to get my hair done, he wants a hair cut, going out to eat randomly or getting door dash, getting mani/pedis etc. *if it’s not in here we can’t do it*
(7) rent. This is a savings account but our rent comes out of here (automatic draft). My goal is to get this account to 1 years of rent money. It will eventually become the account we save money in to build our home as well
(8) groceries/household. I just made a small savings and named it this. But I will eventually change it to a gifts account. It will be the savings account we put money into every month. This is the account for birthdays, baby showers, weddings, Christmas etc
(9) bills (checking). I have all other bills come out of here. Renters insurance, gym memberships, phone bills, etc etc.
I budget fun money for us, but I just send it to our separate cash apps and use our cash app cards.
I have this many accounts because I came across “sinking funds” a year ago and I loved the concept. But I don’t like to carry cash so instead of stuffing envelopes, I stuff different saving accounts. 😂
The cool thing with my bank is even though I have a couple different checking accounts, I only have 1 debit card. I just go online and switch the priority of the debit card. Meaning if I go on vacation, I don’t have to transfer money from my travel account to my main checking account, I just have to switch the debit card to access the travel account. So when I swipe my card, the money comes directly from my travel checking account
I commend and your husband for putting in the work on saving money, but I personally think it is a bit much. Me personally my on personal joint and saving accounts and a joint checking account with the wife that we equally contribute to. That joint account takes care of the family bills. The mortgage, the utilities and joint emergencies. Your personal checking and saving takes care of your personal needs. Such as putting gas in your car, buy those shoes you want or splurging on what ever you personally want. What the other don't see, can't hurt them. That's how I personally do It.
@@crw3673 we’re pretty open about our spending. Like I said we get our own fun money and we can do what we want with it. We don’t care with the other person spends their money on. And it’s nothing to hide 🤷🏽♀️. If someone is trying to buy the other a gift, they can do that. Our fun money goes to our cash app if we choose for it to. Which we usually do. We have cash app debit cards so that’s what we use
I didn't know that Capital One has this feature! I currentlyhave 10 different accounts for different savings goals. It would be great to have to carry only one debit card. Thanks for sharing!
I have 4 accounts with my wife. Joint checking for bills, joint savings for emergency fund, joint checking for us to spend, and a joint reserve account for bills/sinking funds.
"Life is about choices." That statement is an age old adage because it's true.
Dropping those jewels 💎 once again! Great work as always!!! 🥰❤️
First off thank you for sharing your knowledge and giving me some ideas for how I would wish to handle money issues if I ever get married. Secondly - I just wanted to mention that your comment about knowing women spend more really annoyed me but I understand that may be your experience - in my experience it's been the opposite - I've attracted men that earned less or earned more but were impulsive and in lots of debt so I think we just need to be careful with gender and generalizations because there is definitely a mix and good and bad if you will on both sides. Maybe we just need to be more careful of where we vibrate and who we allow in our space. :)
This analysis is good for married couples,
It's really about mind set, I use to think that you need to make more money, but it's about creating a system actually.
PNC virtual wallet has standard checking, reserve checking that can be divided into separate funds, and a savings account. Works very well for me, in addition to using EveryDollar to manage it all.
Phenomenal content.
I agree with having a checking account for the bills in the house and a saving accounts for the emergency fund and big ticket items… I am getting married in June I will keep my own saving account and he will keep his own saving account!! ( Every women should have her own money$$) I gave that information to my daughter when she was 16 years old! She is a 31years old RN nurse she makes $80 year she has her own money$$
That sounds like perfect advice for anyone! I affirm believer that you cannot put all your eggs in one basket! And everyone should support themselves!
Love your preaching style brotha :) Subbed!
Basically you should have 4 accounts. 1) Checking- bills 2) Savings - Joint. 3) checking- his. 4) Checking - hers. DONE
What are you using now for your savings since prize pool is discontinued now
Anthony I enjoyed your program it's a good wisdom lesson thank you
I use mint works for me
The Money Preacher! 💪🏾💯
I have to disagree with the married couples and all these separate accounts. Sounds like you’re looking for a roommate/business partner and not a wife brother. Once you’re married you are “One” meaning no need for all the separate his and hers accounts.
To each his own.
@@dlterrell89 true
I agree when you become married you are one!! A women/man will blow the bag at the mall or on new rims for the sports car on the joint checking account! Separate accounts are good in a marriage that way you hold yourself accountable for money that you blow are F#+= up!! F#+= up the main/ joint checking account is like messing up the church money🤷🏽♀️🤷🏽♀️🤷🏽♀️
@@dionnelewis9141 I agree with multiple “joint accounts” for multiple purposes I.E. Savings accounts, Main Checking account, Checking account for bills, etc. but having a His Checking account and a Hers checking account…”No”. At that point you’re living like roommates and not an actual married couple. There has to be trust and skin in the game 🤷♂️.
@@gerardlead9321 As highlighted in another comment its simply a matter of what works for the couple, as I believe there are no absolutes when discussing relationship preference.
I've been married for 9 years and personally don't adhere to the "joint account" ideology. This ideology doesn't work for all, but works well in my household eliminating many instances of financial discourse.
I would suggest cutting out the filler to get more viewers to watch your content.
Your penmanship needs WORK