Like most things in life, I truly believe that the basics of personal finance is a combination of mental toughness and knowing yourself.  I know I need barriers between me and cash; this is the very reason I can’t carry cash on me.  Talk about a weird feeling when I have debit card $3.33 from McDonalds (don’t judge me, who doesn’t love the dollar menu?).

It is also the reason that I have to make myself feel poor in an effort to save money.  This leads to what people may perceive as a complicated cash flow, but I think it is pretty simple and could possibly help a few people!

Checks Come in From Day Jobs – My CASH FLOW

This starts it all off! The Wife and I have separate checking accounts where our checks are deposited.  We each have a set amount that goes to our joint checking and joint savings.

The joint checking is where most of our bills are paid from.  I say most because I pick up a few extra bills since I make a little bit more.

Our joint savings is done at ING; we have a few ‘buckets’ in our ING Account for different things (home down payment, vacation fund, wedding present fund, etc.).  Each week money goes from our individual checking to our joint savings.

I Love My ING Account

I Love my ING Savings Account.  Why? One main reason for me:

  • It doesn’t feel like it is mine

For whatever reason, when it goes into our joint ING savings it no longer feels like it is mine.  It is not an emergency fund, it is a down payment fund – if I need to touch it, sh!t has hit the fan.  The Wife feels the same way which is huge.  ING currently has a promotion for new customers (they give you $25 bucks for depositing $250…what up 10%! – Contact me for details).

So How Do I Make Myself Feel Poor?

So what does this all have to do with feeling poor?  I have to Keep my main, single checking Account in a constant state of Flux with very little in it or I feel flush with cash and it is ok to go nutty.  While I am not budgeting, per se, I always have to know that I have less than a grand or two in the account or I will feel like it is not a huge deal to go spring for a round of MaCallan 18s.

Is my system crazy? What do you employ? Am I just an idiot for needing to save myself from…myself?