Chris H asked:


I’d like to start multiple “fake” accounts so that I can instantly mark money as reserved for a future expense. So if my “house maintenance” account has enough money in it, I can start my next home repair project. Or if my “entertainment” account has enough, I can go out and buy that shiny new road bike.

In other words, I’d like to treat my savings account as multiple accounts. Then each account would receive a certain percentage each month.

It’s sort of like a pro-active budget, but I need a way of saying I have $x set aside for goal y at any point in time. Most budgets (that I’ve seen) only tell you there are $x remaining this month/year for goal y.

I’d like to a number of categories, so I don’t think opening a new savings account for each would be very practical.

Any ideas? What are you all doing for things like this? Do any banks offer something like this? Any software?

Moises

Andrew L. asked:


im 14 and am about to turn 15. i want to have a savings account but i dont want to have my parents have to sign everytime i want to pull some money out. how old do i have to be to open a savings account with wells fargo in minnesota? also, what is the interest?
because i donthaving to have my parents sign everytime i want to pull out some money.

Quentin

pat4620 asked:


I have quite a few savings bonds that were bought by me and/or given as gifts for my kids for their education. They have both graduated college and we did not use them all. I would like to cash them and give the money to my kids, but I don’t want to get socked with all that interest. Can I reinvest the money into something so that it does not get taxed?

Josue