Bank Buckets aids you in reaching your savings goals by matching a portion of each deposit to each of your goals.
You specify the percentage of your deposit you want to put into each bucket.
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Example: Assuming you set up your buckets like this:
- Emergency Reserve (50%) (Maximum of $2000) - Current Balance : $0
- Savings (50%)
- Short Term Savings (50%)
- New Tires for Car (30%) (Maximum of $300) Current Balance of $0
- IPhone 3Gs (20%) (Maximum of $300) Current Balance of $0
- Summer Vacation (40%) (Maximum of $1500) Current Balance of $0
- Clothing Budget (10%) (Maximum of $500) Current Balance of $0
- Long Term Savings (50%)
- Down Payment on First House (50%) (No Maximum) Current Balance of $0
- Down Payment on New Car (30%) (Maximum of $5000) Current Balance of $0
- Furniture for Apartment (20%) (Maximum of $2000) Current Balance of $0
Example 1: Then if you deposited $150 it would look like this:
- Emergency Reserve (50%) (Maximum of $2000) - Current Balance : $78
- Savings (50%)
- Short Term Savings (50%)
- New Tires for Car (30%) (Maximum of $300) Current Balance of $11
- IPhone 3Gs (20%) (Maximum of $300) Current Balance of $7
- Summer Vacation (40%) (Maximum of $1500) Current Balance of $14
- Clothing Budget (10%) (Maximum of $500) Current Balance of $3
- Long Term Savings (50%)
- Down Payment on First House (50%) (No Maximum) Current Balance of $18
- Down Payment on New Car (30%) (Maximum of $5000) Current Balance of $11
- Furniture for Apartment (30%) (Maximum of $2000) Current Balance of $7
Example 2: And after that you deposited an additional $5000 it woud look like this:
- Emergency Reserve (50%) (Maximum of $2000) - Current Balance : $2000
- Savings (50%)
- Short Term Savings (50%)
- New Tires for Car (30%) (Maximum of $300) Current Balance of $300
- IPhone 3Gs (20%) (Maximum of $300) Current Balance of $300
- Summer Vacation (40%) (Maximum of $1500) Current Balance of $691
- Clothing Budget (10%) (Maximum of $500) Current Balance of $190
- Long Term Savings (50%)
- Down Payment on First House (50%) (No Maximum) Current Balance of $833
- Down Payment on New Car (30%) (Maximum of $5000) Current Balance of $499
- Furniture for Apartment (30%) (Maximum of $2000) Current Balance of $333
