Opening a Separate Savings Account for Doll Money

I think I am going to open a separate account for my Dolls, I am horrible for finding a great deal and then going so broke I can barely pay my share of rent to my bf, poor guy.

It would probably be a good plan, just to set the money aside based on how I much I can feasibly afford (or technically should be spending with a pending wedding, future house buying, all that boring domestic stuff)... then when a great deal comes up I already have the money available to spend on them; especially now that I am saving up for my first BJD (Lati Yellow).

 

Yep I started one for the NYC Dolpa 2 so that maybe I'll have enough to afford to get a one-off this time if I fall in love w/ one. When I went to my fist Volks' event I had just enough money to basically get there & back. NEVER AGAIN!!!

The thought occurred to me last week when I was transferring money into my doll account that a CD might be a good idea to fund something like a Dolpa or convention.

I agree w/ AreeElf about weighing the pros & cons of a real savings account. One of the advantages of being an "older person" is having more options on how to save & spend money. But like the Merrill-Lynch ad says, "We've EARNED it"!

I'd never thought of using my pay pal account as a savings account. That's a neat idea for folks for who a typical savings account isn't practical.

Morgan

 

I have a separate savings account for all of my "I wanna buy ___!" needs. Lucky for me, it's a free account with no fees, so I can take my time saving and not lose any money in it.

For anyone in Canada (and, I'm fairly certain, the US), get an ING savings account. They're free and feeless, and the interest is pretty good if you keep your money in there for a long time, like I do. The account is purely digital - you fill out an application, send them a cheque (you need a chequing account) with a start-up deposit (a dollar or more here in Canada), they connect your savings account to your chequing account, and you can move your money between accounts whenever you want via the Internet. You can also have separate savings accounts under one name and chequing account - one for a doll, one for doll accessories, one for a vacation, and one as a rainy day fund. You can also set individual savings accounts to automatically withdraw a certain amount form your chequing account and put it in your savings, if you've got the money to put some in in regular intervials.

...I promise, I don't work for ING. I haven't dealt with them for very long - there isn't even any money in my account yet! - so I cant vouch for customer service or anything, but I'm excited about having a savings account I don't really have to pay extra for.​

 

Actually opening a separate savings account sounds like a decent idea, but I don't think I'm going to go that far. Instead, I'm just going to get a mini-safe and save the actual cash there. That way I don't have to deal with any fees, etc. attached with having a savings account.

 

I have a separate savings account where I am putting money for a doll. I thought that was normal...

 

It's a good idea...actually that would prevent me from spending more than I should XD;; I always find myself spending the money I had saved for the next doll on something else, like more clothes to spoil my twins >_> setting that money aside might make me less tempted and actually being ABLE to save up lol...

 

I don't use my paypal for anything but my dolls so basicly, All the money that rests in my paypal account is the money I spend on dolls. That way I don't touch the money on my own bank account, I only use money that I make by selling dolls clothes here. That way I make money based on dolls and spend the same money on other dolls and doll stuff later. It's like a trade and it feels great

 

for me, even if i had a savings account, if i wanted to spend the money, i would, lol. if i want to save money, i just put it in my checking account and force myself not to spend it, lol. ><

 

the only account i have is savings ( well im 16) an the only things im saving money o this account are dolls. I dont reall callthe account the doll account though...

 

I've got my IRL bank account and my Paypal. My paypal is kind of my doll collecting fund, though I will withdraw funds from it for RL if I need to.

Raven

 

I will never open a new account to save money for my doll. Enough trouble I have with only one bank account... (=A=);

 

My Paypal account is my dollie account - all the money in it is for hobby related stuff. That way I don't use my utility/medical/real life money. I try to put a little aside every paycheck.

 

Like aimee, I have my own "mad money" account. Most of that goes towards dolls/ doll stuff/fabric, and occasionally, my other addiction, Disney Trading Pins.

 

i think it's a good idea. i've been thinking about doing something kinda the same. i'd like to open a savings account for *all* my extra special things... like a super fancy camera and all the dolls on my wishlist. $20 every paycheck goes a long way eventually!

 

I have a jar I put money into. Lame but it works.

 

I'm actually just going to get a seperate part-time job maybe for doll money, lol

 

i think i should ^^; it's a good idea XD

 

I have a savings account in addition to my checking account but its for long term stuff like a new car, home improvement, or emergencies. I've been putting all the extra money in there and I can't really touch it for doll things without feeling guilty. Using Paypal as secondary savings is a good idea, that way I could separate my doll money from everything else without having to pay for a new account. I do feel a bit leery about Paypal's security though.

 

I do this, too. My bank won't leave savings accounts open if I don't deposit into them regularly and leave a 0 balance... so the accounts I had went away when I didn't have a job to replenish what I needed to spend.

 

That's a good idea! But when you buy something with PayPal, doesn't it take the money out of your PayPal balance?