Rebecca Sowden

For my Recovering Super Spenders,

Its about to be a new month, which means its a new opportunity for adjusting the strategy for saving more and creating better habits.

Here are the Money Rules I’ll be following in April:

1. My Weekly Allowance is $150 and I am using this money for food, transportation, and necessities (aka, replacing hygiene products).
2. The Ready to Save Checking Account can be used for whatever I want. However, if it is an item (clothing, shoes, technology, etc.) it needs to be from my Wishlist– unless, it is a designated shopping day, in which case I will have a spending limit and guidelines.
3. Ways to fund the Ready to Save Checking Account:
   • No spend days are worth $10 (from Weekly Allowance)
   • Going to the gym after work $5 (from Weekly Allowance)
   • Unexpected $$$ received
4. Will use a new Checking Account called “Expected Costs” for expenses that will require Savings funds, are unavoidable/unwanted, but are not an emergency. Money will be transferred out of Savings and into this account prior to the expense happening. My hope is this will prevent feelings of Revenge Spending following a purchase I didn’t want to make.

I have multiple accounts with Capital One, all accounts mentioned above are with them since there are no minimums or fees. Not mentioned is my Checking account with Chase as well as Altura Credit Union. I use these exclusively for Bills and Loan payments.

If you don’t have a budget or a way to track your finances (that you like) check out My Budget Template and other money tools here.