Around The House & Beyond: Spending & Saving with Capital One
This post is sponsored by Capital One, as always, all opinions are our own.
When we first started saving for our home we opened a joint Capital One Performance Savings Account, and it became our piggy bank of sorts for extra dollars to go as we plodded away at planning our future. It was great because we could both view the account activity in the Capital One app and text each other things like “you just put another hundred in for the house, yaaas!!” The day we knew we had enough money to officially start our house hunt was an exciting one.
Flash forward two years with our house renovation well on its way to completion, we’ve kinda become pros at balancing our spending and saving. Our savings account transitioned from being a place to save for the home purchase to where we save for repairs and renovations. Having our money separated into a dedicated account lets us keep track of saving towards whatever our specific goal at the time is, and it’s proven incredibly useful for keeping us in check.
We got to meet with a Money & Life mentor from Capital One, which is a free service open to everyone—Capital One customer or not—where you meet with a mentor to discuss your goals big and small and talk through options and actions to meet them.
The program is currently available on-demand and will eventually be available in person and includes sessions such as “Talk Money with Your Honey,” which is designed to help you and your partner explore your respective pasts and how they have influenced your feelings about money, providing guidance on establishing healthy communication skills about your financial goals and how to achieve them. We talked a lot about our little method of dividing our money into different accounts during our meeting, and our mentor was receptive to hearing everything we had to say.
One super helpful thing we did during that session was plot out potential future outcomes depending on actions we took today. Like, literally pen to paper draw our options out and create a fictional future so that we could see if we were happy with the direction we were headed in financially. It was the first time we’d ever done anything like that, and working on it together was a great exercise in communication for us and learning about what each other wanted and needed.
Anyway, in addition to using Capital One for our savings account, we also have a 360 Checking Account for expenses. Having all of our accounts linked in one place lets us keep an eye on everything as we work towards finishing our home renovation and also just everyday spending.
We’ve been happy customers of Capital One for years now and definitely recommend you check out their range of account options to see which one is right for you, and if you haven’t yet done a Money & Life virtual mentoring session, go ahead and book an appointment now!
xoxo
Beau & Matt