Banking on a first-name basis

re: Banking on a first-name basis

adipex non-generic no rx — Thu, 13 Aug 2009 21:24:42 GMT

Perfect work!

re: Banking on a first-name basis

ImJuniperNow — Sun, 05 Jul 2009 17:27:40 GMT

I call my VISA account "Kiss it Goodbye". Does that count?

re: Banking on a first-name basis

Diana — Thu, 02 Jul 2009 13:25:17 GMT

I have a sub-account for my propane bill and will actually be opening up another one next week for my husband's future new computer. We have $575 towards it saved at this point but I'm afraid I'll spend that money if it's not separated from the rest of the money! @Michelle, I use a credit union, by the way.

re: Banking on a first-name basis

Amanda — Thu, 11 Jun 2009 02:57:39 GMT

Michelle, I actually use a credit union for my subaccounts, it's a local credit union but perhaps ones near you do the same. Hope that helps!

re: Banking on a first-name basis

Michelle — Wed, 10 Jun 2009 16:36:11 GMT

Thanks Foxie!

I don't think I am eligible for USAA, but are there any others anyone knows of that allows subaccounts besides ING? Thanks!

re: Banking on a first-name basis

Foxie @ Life as a [Girl, Miata] Racer — Wed, 10 Jun 2009 14:56:17 GMT

@ Michelle:

I bank with both ING Direct and USAA, and am able to nickname the accounts with both of them.

Ex. The nickname of my car loan: Kill me quick. (No joking.)

re: Banking on a first-name basis

Foxie @ Life as a [Girl, Miata] Racer — Wed, 10 Jun 2009 14:54:54 GMT

I certainly do this, which is why I have five online savings accounts!

My newest is for my new-to-me 1990 Nissan 240SX. Whatever I'd pay above the monthly loan payment I'm sticking in a savings account, "240SX." When I get a fairly large chunk, I'll make a principal payment on the loan. (Or more frequent, I haven't decided yet since I just got the loan yesterday.)

Oh, and why do I have a car loan for a 19 year old car? To build credit, of course. I'm only 20 (soon to be 21) and have never had a car loan before. Don't like having it, but it ought to help me out in the long run...

re: Banking on a first-name basis

Michelle — Wed, 10 Jun 2009 14:47:12 GMT

I am interested in having sub-accounts so that I can name them to encourage saving. Can people please post names of banks that allow subaccounts? Thanks!

re: Banking on a first-name basis

Amanda — Wed, 10 Jun 2009 02:51:33 GMT

I definitely agree with this strategy. My bank allows me to create up to 99 subaccounts, and while I only use about a dozen, they are all named (savings, car, travel, medical, pet, vacation, computer, christmas, etc). What's even better is that my bank allows for payroll distribution, so with each incoming paycheck I have certain set amounts go into each subaccount; $100 into car, down to a measly $5 for pet. But that ensures that at least my yearly check-up for the cat is paid off by the time I take her in.

Though I could go on and on about how great payroll distribution into named subaccounts is, it can be dangerous if your paychecks vary greatly. Because the money goes FIRST into the subaccounts, a paycheck at half the normal size could leave nothing left for checking. But personally, leaving a limited amount of money in my checking keeps my purchases in check.