Our recent “money honey” chats have been centered on the process of simplifying our accounts and merging into a single bank, the
very sustainable ShoreBank Pacific
.
We eagerly await the day our finances truly become easier and greener as a result of our efforts, but for now it feels like an exercise in patience and perseverance.
Here are the steps we’ve mapped out:
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Open joint account
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Open EcoKids accounts
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Each fill out a direct deposit form
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Transfer money from two separate ING savings accounts (this will give us a surplus in our checking to cover expenses drawn from the new account until our direct deposit kicks in)
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Switch automatic payroll savings transfer
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Switch account info for each of our auto-pay accounts Hubby – mortgage, car loan, insurance, Netflix
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Mama – child care, student loan, cell phones, natural gas, electricity, water/sewer, newspaper, Spud!, Costco American Express, Mastercard
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Track when direct deposits and each auto-pay kicks in
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Close each individual account once we are certain no more bills are linked to our old accounts
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Shred old check books – purge old finance files
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Celebrate!
No doubt, there will be more financial conversations than normal as we try to bring our merging process to closure.
Do you feel stuck with your bank, because you don’t have energy to switch?
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Sustainable Family Finances
The story of a family creating an abundant and sustainable life.