Desjardins Credit Union [Change site]
Personal budget: Let technology help!
At the end of the month, when your piggy bank is empty, you may wonder where your hard-earned money went.
This is often when we turn to a budget, which some people think of as a punishment. Simon and Joséé, a young couple, don't see it that way and explain what works for them.
Have you ever considered using technology to help you manage your budget, personal accounts and bills?
To organize your finances, your money must be transferred to the right accounts when your pay is deposited. It is a good idea to have several Regular Savings Accounts.
This is how Simon and Josée do it. Each salary is deposited into their personal account and then transferred to a joint account. This way, the money won't be frozen if either one of them dies. They keep whatever they need for personal expenses in their own account. Simon and Josée allotted themselves a certain amount to spend as they please while the rest is transferred to a joint chequing account. The money is then placed in various Regular Savings Accounts in the same folio. (You can have up to nine accounts in a folio: RS 1,2,3, etc.)
They use AccèsD to transfer their money to different accounts.
"This way, we can plan as many transfers as we like. When this is done, the joint account funds are automatically transferred into the various savings accounts."
Find out how to avoid impulse purchases
