Just curious… instead of having % distributed to the buckets when a deposit is made can you instead have an actual dollar amount going into each bucket? For example we need to have $360 of our total deposit each month going into our car insurance bucket. Our total deposit will vary each month but the amount that needs to go into each bucket will not leaving the core bucket only getting whatever is left after all other buckets are filled. Did I explain that well enough? lol. We just setup an account with ally and I am new to the whole thing.
I personally like wealthfront better. But depends on what you prefer! Some people aren’t comfortable with fintech (wealthfront isn’t a traditional bank) so in those cases Ally is better.
Please let me ask two questions and I'm sorry if it comes from my lack of knowledge. 1. How can I pay bills accurately from these categorized buckets? 2. Is the number of times I can pay bills limited by transactions limit per statement cycle (six per month)?
These are in savings accounts so you wouldn’t be using them for bills. There’s after limits per statement cycle yes so you wouldn’t be able to constantly draw out money. You could save up in buckets and withdraw monthly for everything maybe but it’s savings account so it’s not designed for bill pay. You could use spending buckets inside a checking account! It’s a similar thing in Ally but with checking.
Both! Depends on how long term your goals are but it’s a great option for savings since it tends to offer higher rates than traditional savings accounts.
I funded my ally account today and I’m waiting for funds to post. I have 8 buckets for the savings. Now for the spending account , I have a question… those buckets I plan on using those funds as needed for example, gas for the car, and kids clothes. Do you recommend keep daily spending , like food and gas in a regular checking or in the spending account my goal is to spend less on eating out but I do have to put gas in my car every 3 days or so, thanks for your feedback
I keep daily spending in checking account so food/gas etc. In Ally you can also set up "spending buckets" in your checking account. I'll do a video on that eventually but it can automatically categorize your purchases to the buckets and help you figure out where you are spending too much. For things you don't buy daily like kids clothes/kids activities I keep that in savings buckets until I need it.
@@PenniesNotPerfection i like them alot I’ll probably stick with them and have ally bank as my spending account due to the spending bucket. They have a great interface and easy to understand investing. Only down fall I don’t like is that you don’t get there 4.50% APY if you don’t have direct deposit. One of my favorite features is you get cash back (up to 15%) with their debt cards when it’s a local business that’s listed on their app. Which is cool
Do you use savings buckets at Ally?
My review of Ally Bank ➝ ua-cam.com/video/4kAv5qE6Bmw/v-deo.html
Thanks for posting this guide on Ally buckets. I was never sure how buckets work.
This is the exact video I was searching for ❤
I enjoyed this Mary. So cool having those features, automatic functions and trackers 🌱
Yes! I love it!
Great tips! Thank you for this video. I use my Ally buckets for anything car related. Car tag, Car maintenance and saving for a new car.
Thanks for sharing!
man i love this and it appears to be so easy
It is! They made it really easy to use!
I Love this, the best video by far!
Thanks!
Does Ally have instant deposit?
Or does it take a day or two?
This video is great! Thank you
Glad it helped!
Love this, so helpful thank you!
So glad!
Just curious… instead of having % distributed to the buckets when a deposit is made can you instead have an actual dollar amount going into each bucket? For example we need to have $360 of our total deposit each month going into our car insurance bucket. Our total deposit will vary each month but the amount that needs to go into each bucket will not leaving the core bucket only getting whatever is left after all other buckets are filled. Did I explain that well enough? lol. We just setup an account with ally and I am new to the whole thing.
If I understand you correctly then yes you can do a dollar amount.
Do you have a preference between ally or wealth front
I personally like wealthfront better. But depends on what you prefer! Some people aren’t comfortable with fintech (wealthfront isn’t a traditional bank) so in those cases Ally is better.
How quickly does a purchase reflect in the bucket, is it instant?
Thank you for sharing 😊❤
Please let me ask two questions and I'm sorry if it comes from my lack of knowledge.
1. How can I pay bills accurately from these categorized buckets?
2. Is the number of times I can pay bills limited by transactions limit per statement cycle (six per month)?
These are in savings accounts so you wouldn’t be using them for bills. There’s after limits per statement cycle yes so you wouldn’t be able to constantly draw out money. You could save up in buckets and withdraw monthly for everything maybe but it’s savings account so it’s not designed for bill pay.
You could use spending buckets inside a checking account! It’s a similar thing in Ally but with checking.
thank you for the explanation@@PenniesNotPerfection
Do you recommend this for short-term goals or long-term goals?
Both! Depends on how long term your goals are but it’s a great option for savings since it tends to offer higher rates than traditional savings accounts.
I funded my ally account today and I’m waiting for funds to post. I have 8 buckets for the savings. Now for the spending account , I have a question… those buckets I plan on using those funds as needed for example, gas for the car, and kids clothes. Do you recommend keep daily spending , like food and gas in a regular checking or in the spending account my goal is to spend less on eating out but I do have to put gas in my car every 3 days or so, thanks for your feedback
I keep daily spending in checking account so food/gas etc. In Ally you can also set up "spending buckets" in your checking account. I'll do a video on that eventually but it can automatically categorize your purchases to the buckets and help you figure out where you are spending too much. For things you don't buy daily like kids clothes/kids activities I keep that in savings buckets until I need it.
I still don’t have the option to make my buckets, the fund are supposed to post today but still say pending
What an awesome feature.
I think so!!
How to do a credit card balance transfer on Ally app?
Can you doing a spending bucket. I’m on SoFi currently and the spending bucket from ally bank got me interested in them.
Sure! I’ve got a few more videos coming out. How do you like SoFi? I’ve been thinking of trying and reviewing them.
@@PenniesNotPerfection i like them alot I’ll probably stick with them and have ally bank as my spending account due to the spending bucket. They have a great interface and easy to understand investing. Only down fall I don’t like is that you don’t get there 4.50% APY if you don’t have direct deposit. One of my favorite features is you get cash back (up to 15%) with their debt cards when it’s a local business that’s listed on their app. Which is cool
Hey friend good informative video.
Glad you liked it!
Hey kind of excited just sold a kids drum set for 30.00 woohoo gona add that to my savings
🎉
@@PenniesNotPerfection I feel like it's only 30.00 but adds up rit
It will definitely add up!
@@PenniesNotPerfection 😆😆
💖👍🏻🙃