What is a debt payment bucket?

The debt payment bucket will mirror every transaction into your account. For instance: if you deposit $50 into your debt account, the payment bucket balance will decrease by $50 indicating that your pending payment has gone down.

What is a bucket system & how does it work?

We refer to it as the “Bucket System” because it divides your money into three “buckets.” Bucket #1. Recurring fixed expenses: debt payments, insurance, taxes, utilities, etc. Bucket #2. Lifestyle expenses: food, clothing, entertainment, etc. Bucket #3. Future Spending: medical deductibles, vacations, future car purchases, retirement

What are buckets & how do you use them?

Buckets help you visualize your expenses. Start small with a few buckets and add more as you need them. By setting aside money for recurring expenses ahead of time, you don’t need multiple accounts or complicated spreadsheets to monitor your spending. Buckets allow you to easily analyze your finances for overspending and customize a flexible plan.