Additional account for budgeting walmart

Is your budget vulnerable to surprises?

Using multiple accounts can keep your budget on track

The unanticipated expense is a common pitfall for would-be budgeters. A sudden, urgent need for a car repair or an unusually high utility bill can undermine solid planning, resulting in frustration and feelings of powerlessness.

One of the most effective ways to insulate your budget is to keep funds tucked away in a separate account. Dividing your money into separate spending accounts can help keep your finances aligned to different uses – always keeping you ahead of your budget.

Strategies for using multiple spending accounts

There isn’t one right way to set up multiple accounts — everyone’s situation is different. Some people use one account for recurring expenses, and another for things that come up less regularly. For example, you might have one account for monthly bills and another for all your favorite purchases at Walmart, like clothing purchases, a new TV, or even eating out.

With this approach, you could have one account for expenses that tends to be the same amount each month (mortgage or rent, car insurance, cable), and a separate account that is more discretionary or less predictable.

You can even arrange your direct deposits to be split over multiple accounts. This makes it easy to cover your predictable recurring expenses, while your remaining income goes into an account for everything else. Plus, you can set up automatic bill payments for those predictable expenses, allowing you to focus more closely on managing the variable ones.

The right tool for the job

Of course, setting up and managing multiple checking accounts at one or more banks can make things more complicated. But the solution can actually be quite simple.

The Walmart MoneyCard is a debit card with cash back on Walmart purchases1, overdraft protection up to $2002 , and no monthly fees with qualifying direct deposit.3 The card can be used anywhere that Visa® debit or MasterCard® debit is accepted. All with a mobile app to help you manage your account on the go.

You can even set up account alerts4 for when your account balance falls below your desired amount. Plus, you can transfer money from your existing bank account to your Walmart MoneyCard5 at time.