My Finances

This year I've taken the decision to be more disciplined with my money. Whilst I can be frugal when I have a challenge e.g my trip to New york, I tend to just spend ALL I have. Thank God I don't have any debts apart from my student loan. I've cleared my overdraft, arrears in council tax etc.

This month i've taken it that step further by really making my banks work for me. I'm in love with online banking ( I'm so late) it makes the process of transferring money so much simplier. Plus I can keep a watchful eye on my statements. My main bank account was currently were my wages got paid into and were all my direct debits came out of. This weekend I transferred all my direct debits to come out of my secondary account. Each month I will transfer the bulk sum of my wages enough to cover my rent. monthly travel and utility bills and then my direct debits will come out of this account solely.

My main account will leave me with the remainder of my wages. This way i won't get any sudden surprises when the TV licence comes out. i know I'm not the only one that goes to the cash point to think i have a certain amount and lo and behold a direct debit that i've forgotten about has come out- arrggh.

I think this way of banking is going to work so much better for me it will force me to be even more disciplined and at least I can see whatv I've got left to play with.