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Once you understand the point and budgeted amount though, I dont get it. Its like training wheels, you need them until you get it then you dont. I mean the OP thoroughly understands and has his game on lock down, he absolutely doesnt need this at all. Anyway, whats the difference, your money is really one big pile, transactions are easy to keep track of, etc…I just dont see the difference besides lost protection, benefits, etc…
I also dont get the idea of paying CC off every friday for the same reason. What exactly is the point? It doesnt save money and certainly is a hassle. If you need to review purchases weekly you can do that and mint sends me an email every week with that kind of info.
I dont have a single bill that I need to physically log on to a page and manually enter to pay. Everything is on auto pay, all cc just pay the full amount on date, etc…etc…it is not only hassle free but means you are highly unlikely to ever miss a payment on anything. Its also easy to use an aggregator at that point to track if you want to. There are enough hassles and wasted time in life already, Im not going to create more friction where its absolutely unnecessary for any longer than I have to. Yes, great idea for just starting out, but once you get it, streamline your life and keep tabs.
Right.
Obviously do what works for you, however somebody wants to allocate their money that works for them is good, but we're all big boys on here and we can play by big boy rules.
I understand wanting to set a strict budget so you can not feel guilty spending to the budget, or the cash/debit hurts more so you spend less thing, but personally I can't help but treat every purchase as a decision where I am either being a cheapskate or knowingly splurging, even if it's just a few bucks. I pull up at McDonalds to get a Big Mac meal and see it's $7.59 and so I end up getting a 2 double cheeseburger deal for $3.00. Either choice has no impact on my finances but I can't help but be a cheapskate. Very next day I will take my wife to dinner and don't worry about the bill being a couple hundred dollars.
It feels like the whole "what are you going to do with the money you got from (tax refund, $20 you found on the ground, etc)" question. It's just going to go into my wallet, bank account, whatever and be treated like any of the other fungible money I have. I'm not going to go out and buy a Rolex just because I got a Christmas bonus.
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