I know this might sound silly, but I really struggle to mentally separate my money into different purposes when it’s all in the same account. For example, if I tell myself I have $100 a month for fun, I often don’t end up using it because it feels like I’m taking away from something else. I think I’d manage my budget better if I had a tangible way to separate these funds, like using cash.
Since I only have one checking account, creating multiple accounts isn’t feasible for me. If I want to save for a purchase, I feel it would be more rewarding to see the money build up visibly, rather than just watching my overall balance change. Does anyone have suggestions for how to achieve this kind of separation? Am I being weird?
You’re definitely not weird! Have you considered using cash envelopes for different categories? Even if you primarily use digital payments, you can take out cash for specific purposes and keep them in separate envelopes.
Another option is to use a budgeting app that allows you to create virtual ‘envelopes’ or categories. Some apps visually represent your savings goals, so you can see your progress.
You could also try setting up a separate savings account for each category, even if they’re within the same bank. Some banks allow you to create sub-accounts or use nicknames to help you visualize your goals.
If cash isn’t an option, consider a physical ledger or a budgeting binder. You can allocate your funds on paper and track your spending that way—it can feel more tangible.
I get what you mean! Using different colored folders or jars for cash can also help if you ever decide to go the cash route. It’s all about what feels right for you.