Quote:
Originally Posted by Handsome B. Wonderful
What's the point of pooling it all in to one account? No one has shown how that is beneficial.
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So you can track your savings in one place. Our major expenses are collective - mortgage, insurance, car, utilities, RESPs, kids activities, groceries. Our savings are all for collective goals - vacations, home repairs and renos, big ticket family purchases. Tracking all that in one place is just easier than having to assess several accounts to see how much we have saved for vacation or how much we can spend on new flooring.
The only budget item that isn't collective is our discretionary spending, and that's such a small fraction of our expenses that we just manage it informally. No point setting up separate accounts to cycle a few hundred dollars in and out of.