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My brother told me to open a second savings account at a different bank and it actually saved me $200
He said I was too tempted seeing my savings right next to my checking at the same credit union. So I opened an account at Capital One six months ago and put $50 per paycheck in there. I completely forgot about it until last week when I checked the balance and had $1,200 tucked away that I never touched. Anyone else do the out of sight out of mind trick with a separate bank?
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amy_west2mo ago
Bro (and your bro is smart btw), this is such a solid hack that tons of people sleep on. It works even better if you set it up with a bank that doesn't have a super easy app interface where you can see both accounts together. Some people go as far as opening an account at a credit union that doesn't even have a mobile app, just a website you have to log into separately. Makes it way too easy to ignore that savings until you actually need it.
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the_terry2mo ago
So I did exactly this back in 2019. Opened a basic savings account at a small credit union called First Heritage (if I remember right). Their online portal looked like something from 2003, and they didn't even have a mobile app until last year. I set up a $75 automatic transfer every paycheck and basically forgot about it for four years. By the time I finally logged in last spring to put a down payment on a car, I had almost $9,000 in there. The whole out of sight out of mind thing really works when you make it hard to peek at the balance every day.
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