Bucket Budgeting

I heard once someone say you should do envelope budgeting. That's fine but i never use cash. I can't keep track of it for my personal budgeting. After i moved out, i spent 9 months trying to have a better peace of mind for my budget. and then i found it. It's called Bucket Budgeting. Just like the envelope system but using digital envelopes such as bank accounts. I find it so easy. the first couple of months are hard. So be warned. But once you get used to it, it does get easier. I promise. So For a year now I've done bucket budgeting.. After we got married Nick joined that as well..
Here is how we do it.

We use Capital One 360 Savings and Checking account. You can have 3 checking accounts with unlimited withdraws and the savings accounts are unlimited amounts but only 6 withdraws a month.

We have the 3 checking accounts.
1- For our Credit/Debt Payment
1- For Our House Payment
1- for Our "Lump" account.

Then we have our savings accounts
~ Utilities
~ Car Loan
~ Fitness (This is for plexus right now but someday will be for the gym)
~ Car Insurance
~ Gas Fund
~ Groceries
~ Phone Payment
~ Emergency
~ Medical
~  Gift

We transfer money every Monday from our Personal/Joint checking into the Lump account. It deposits into the Capital One account on Tuesday and Then i transfer each individual amounts into their accounts. Something like this. This is based off our December Budget


Lump account- $1000.00 deposited into the lump account.
the following amounts get transferred out of the lump account,
House account- $128.75
Credit- $200
Utilities- $43.75
Car Loan- $46.50
Fitness- $33.75
Insurance- $75.00
Gas- $87.50
Groceries - $93.75
Phone- $43.75
Emergency- $10.00
Medical- $50.00
Gift- $37.25

This happens every week. Some of the accounts have Auto Transfer but most don't. For fear that it will take longer for the Personal/Lump Deposit from our bank.

Our Budget is the same week after week. It doesn't change when they're 5 weeks in a month. So some of our accounts start the month at zero and end at zero but some don't because of the 5 weeks.

The accounts that start and end at zero
~ Credit account. Some Months we pay more on our debt.
~ Gas Fund- Generally This starts and ends at zero. We have a speedway Credit card that we use for gas and I pay this card off each week, Sometimes the bank account has some left but most of the time, it's drained.
~ Car Loan- If it's had 5 weeks, We just pay a larger payment.

Some accounts gather money through out the whole year. Like the Insurance Account.
Our Car insurance is due monthly and it's only $245 so we're putting an extra $55 dollars in a month. We do this so that eventually we'll hopefully be able to pay the whole balance at the beginning of the 6 months.
Utilities - We put more money into this account than we take out. Why? Well we are currently on budget billing but eventually We'll have to pay the balance on our budget billing but also because i like to have that security and not have to worry about bills.
Phone- This was a great idea! We just kept the extra in the account until we had enough to pay off my phone. Which was great! because it lowered our monthly payment so now we're putting anymore into savings.

Having this money in each savings accounts, just helps my peace of mind when it comes to paying our bills. Even though it's not all in the same account, it's still something in savings.

If anyone has any questions, Feel free to comment :) Hopefully this explains how we do our bucket budgeting