[USER]

Is there a service that will pay all of your bills for you and give you an “allowance” for daily spending?

I have been in debt for years and it’s clear to me I have no control over my own money.

“I’ve been thinking about managing my finances more effectively and wondered if there’s a service that handles paying your bills and also provides a daily spending allowance.

The idea would be that the service takes care of all your recurring payments—like rent, utilities, subscriptions, etc.—and then distributes a set amount of money to you each day for discretionary spending.

This could help with budgeting and ensuring that essential expenses are covered first.

Has anyone come across something like this?

If so, how does it work, and would you recommend it?”

[Kendra]

I have a Venmo debit card.
So I transfer my weekly allowance to that card and that’s all I’m allowed.

Anything in my checking is for bills and then the rest goes to savings.

Maybe find yourself an allowance account and try really hard to be disciplined with it….?

[Kris]

I use seperate accounts, bills, savings, spending. I automatically have a certain amount of each paycheck get direct deposited into my bills account and all my bills are on auto pay, a specific amount direct deposited into my savings account, and the rest goes into my spending account.

That way I never see my whole paycheck and think I have more money than I do, I only see what I have available to spend on food/gas/fun for the next 2 weeks.

(My savings account is with a seperate bank all together that I do not have access to unless I call the bank to do an external transfer which takes 2 pkus business days or I have to take the hour drive to physically go there. Keeps me from dipping into it as often.)

[Virginia]

You can work with a payee who can help you set up a structure to evenly disperse funds over time.

I served as a payee for a disabled veteran.

The setup takes a little time, but it’s pretty simple going forward.

[Michele]

Pay bill ahead and use cash only, problem solved. Cut up the cards. Old fashion glass jars, gas, food / hygiene produces, am coffe, gifts and

[Angie]

In my house it was always called “wife”. Sorry, I know that’s not helpful.

Check with your library. They may have classes to help you.

[Margie]

If I was closer I would do it for you. I hope you find a solution, looking for this is definitely a big step in the right direction.

[Cindy]

Have your bills put on auto pay for the days you get paid and then withdraw spending money in cash

[Shelley]

I dont know of any services like that. I dont even think a financial coach would do that.

A close friend or family member who is good with money might be able to do that for you.

Have you tried the envelope method? That might help you with budgeting.

I’d also suggest you get a financial goal…

short term, middle and long term. Post those where you can see them daily. Then before every purchase…

ask yourself if it’s a need or if it will help you achieve your goals.

If not, put it back.

[Brittany]

A month of cash only spending will teach u to be more frugal and understanding on where the $ goes- it’s easy to swipe a card not easy to pay it off-

[Erika]

Sounds like you are looking for a personal bookkeeper or daily money manager.

I would use those two search terms in Google and vet them extensively.

[Bon]

I’ve heard about those people that will do that, but if you repeat the cycle, which most of them do they never get out of debt anyway and still owe even more.

The only way I got out of debt is to not buy anything else not necessary.

what motivated me is that I wanted to retire and I did not want to go back to work.

I am in my 70s now doing fine.

[Sarah]

I don’t know od a service but personally I will put all my debt on a white board and hang it where I can see it so I see what I’ve dug myself into.

Then next to the debt I show goals of what I want to reach ie emergency savings, a trip to Mexico or Greece ect as a motivator to be better.

I also ask myself is this something that I would throw away if it got poop on it or wash it, if I would toss it then I won’t buy it (I know weird thing but it’s saved me money by realizing the item wouldn’t be worth it to save so why buy it)

[Molly]

Search for “personal finance manager”. This is not the same as a financial advisor although there is some overlap.

Be VERY cautious with this though since you’d be giving access to your money to someone you don’t know well.

I have never used one, but have some acquaintances that have one.

[Mary]

One way to do this might be to create one checking account for yourself to use as your allowance for daily spending and have the rest of your paycheck deposited into another account from which all your bills are auto paid.

You could not carry the debit card with you for the second checking account and you could not have the bank app on your phone.

Then you would only see your allowance bank and be able to use that as your daily spending

[Author]

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