dom88
April 28, 2025, 3:02pm
1
I’ve been winging it with my business finances for years. One account for everything. Now I’m thinking about separating personal and business funds, maybe even creating sub-accounts for different expense categories.
Anyone else restructured their accounts? Did it actually help with money management?
Yeah, I restructured my accounts a while back. It’s not a magic fix, but it definitely helps.
Here’s what worked for me:
Business checking for day-to-day stuff
Savings account for taxes (I transfer a percentage each month)
Another savings for my “rainy day” fund
The biggest benefit? Peace of mind. I always know where I stand financially.
One tip: Set up automatic transfers between accounts. Makes it way easier to stick to your system.
Just don’t go overboard with too many accounts. Keep it simple enough that you’ll actually use it.
Nah I just keep one account. Too much hassle otherwise. Bills get paid no problem.
livvy
May 3, 2025, 10:26am
4
I just use one account for everything. Keeps it simple. Maybe not the best way, but it works for me. Less hassle with paperwork and stuff.
I went through this exact thing a few years back. Started with one account, total mess. Now I’ve got it sorted:
Main business checking for everyday stuff.
Savings account where I stash 30% for taxes.
Another savings for emergencies and big purchases.
It’s not perfect, but way better than before. I can actually see where my money’s going now.
The tax account’s been a lifesaver. No more panic when those quarterly payments come due.
One thing that helped - I set a reminder to review everything monthly. Keeps me from slacking off.
Just don’t go crazy with too many accounts. I tried that at first. Ended up ignoring half of them.