How We Found Financial Peace of Mind

by Erika Torres
4 comments

talk finances The past five years have proved to be a financial whirlwind for us.

From $45,000 of debt to saving $30K in seven months, Eric and I have come a long way.

One of the tools we’ve been able to use to reach these saving goals is our Capital One 360 saving accounts. I’ve talked in great length about it before, but Eric and I keep about seven different savings accounts through Capital One 360.

Each account is designated for a specific purpose:

  • House Down Payment Fund
  • Vacation fund
  • School fund
  • Christmas Fund
  • Emergency Fund
  • Car fund

Having this many savings accounts has helped us reach our own stable financial peace of mind.

We find that saving for different things at the same time helps us meet all our goals, rather than saving for one giant thing at a time. By treating each savings goal like a monthly bill, it’s a lot easier to manage.

For example, every paycheck, the Christmas fund gets $50. The Car fund, which covers insurance, registration, and auto maintenance (oil changes, repairs, etc), gets between $250 and $300 every month. It makes it a lot less painful whenever our six-month insurance bill shows up, because we know we already have the funds.

Same with Christmas–we don’t have to panic about all the spending we inevitably end up doing because we already have money for it.

This year, Capital One 360 wants to give you financial peace of mind by offering their own Black Friday Sale.

This holiday, to encourage consumers to stay on track with their finances, Capital One 360 is decking the halls with deals you can bank on, including new account bonuses, referral bonuses and closing cost credits. Capital One 360 Checking and 360 Savings are also fee-free and earn interest.

Receive a $100 bonus when you sign up for a Capital One 360 savings or checking account.

In addition to taking advantage of deals on banking, brokerage and mortgage products yourself, you can give your friends and family the gift of financial peace of mind by encouraging them to take advantage of the deals and refer them to the sale. If they sign up, you may be eligible for a $40 referral bonus.

I was selected for this opportunity as a member of Clever Girls and the content and opinions expressed here are all my own.

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4 comments

Lisa December 4, 2014 - 12:16 pm

I have 5 different savings accounts with Capital One 360! Naming each account for a specific goal really helps when trying to stay organized.

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Philip Everson December 2, 2014 - 3:03 pm

My wife is hesitant about Capital One.

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Cece December 1, 2014 - 1:29 pm

I have multiple savings although they are not earmarked for certain thing-but I could see myself doing that. At one time I created a ‘fun’ money savings account and I still have never spent anything out of it!! It’s so hard for me to use savings so having multiple ones for different things would probably help me.

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Mimi December 6, 2014 - 4:00 am

Same here! I also keep multiple savings account with different banks. There’s one that I don’t touch at all and one for my everyday needs (including a budget for the family.) I don’t know if what I did helped with managing my finances, but my husband keeps only one account (that I know of) and he’s always having trouble with his finances.

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