Got an Answer?
Read the book “The Barefoot Investor”. We did this, followed the rules (adjusted some to our circumstances) and saved thousands. There is even FB groups about it. It’s so easy and relatable, it’s based on Aussies.
We have a joint savings account that can only be accessed for withdrawals by going in the branch. Works because I can never be bothered going in there 😂. We have set up automatic transfers to come out the same time our pays go in so we don't even notice it gone, just builds up slowly. If you add up all your bills for the year plus a 'rainy day' amount and divide the total into 52 then thats how much you should be transferring weekly.
I tried the envelope system but just found it a pain in the A.
You can call the bank and ask them to put a restriction on your account so the only way to withdraw or transfer the money is to go into the branch. It takes a lot more effort and gives you enough time to think twice... or three times 😉