Along with my new budgeting plans, I've decided to take the advice of many bloggers out there and finally open some ING subaccounts. So far, my separate funds are as follows:
Student Loan Fund
I am planning to move sometime in either June or September (don't ask), so my "Future Fund" will cover some moving expenses, plus deposit and first month's rent... unless I end up having to move in June, in which case, there won't be much money in there. I'm also planning to start saving for a wedding in case I want to get married in the next 10 years. A house would also presumably fall into this category.
I have a "Medical/Dental" category because of an awful, mostly unexpected $850 dental bill I got this year. It's never fun to take that big of a chunk from your savings. While I do plan to save $50/paycheck into this account, I think next time I'll use CareCredit. I've never used it before, but my mom works in the dental field, and recommended it. It's normally interest-free for 3-18 months. If I knew for sure that I had money set aside to pay for it, why would I use it? Well, I guess I wouldn't if I had the money set aside, but I would use it to avoid dipping into my savings.
"Gifts" is its own category, because, now that I'm a fully-functioning adult person, I'll have friends getting married any day now. That's a lot of gifts.
I thought about adding a "Clothes" fund, but I buy clothes infrequently enough not even to bother.
What are your categories?
If you still haven't opened an ING account yet and you'd like to, leave a comment for a referral. You get $25.00 for free for signing up and depositing at least $250.00, and I get $10.00 for spreading the word.