New accounts in effect

June starts the beginning of our new budgeting system of sorts. Within a week, our accounts were opened and we received our new ING Electric Orange debit cards in the mail. Sunday night we finished up the new setup by creating our "envelope" savings accounts.

Refer to the chart below to understand how our money flows:


It should be pretty self explanatory, but basically we have our paychecks deposited on our Charter One account, which pays all our household bills and expenses. Then our personal spending money, gas money, and "envelope" money for our budget categories is transfered to our ING Direct personal checking or the designated savings accounts throughout the month.

Hopefully this will streamline things and drop my bank visits to 2 times a month, just to deposit my paycheck since my job doesn't offer direct deposit.