Ally Bank Smart Savings with Buckets and Boosters
Ally Bank has Buckets and Boosters to assist in optimizing savings. Buckets are digital envelopes. You can have 10 buckets in your savings account. You can have buckets for emergencies, vacations, wedding, bill payments, car repairs, education, pet needs, and other buckets. You can even create your own bucket and set goals and target dates. Boosters are how you fund your buckets. Do you get paid every week or twice a month? Set up boosters so funds automatically flow into your buckets.
**Ally Bank - Buckets**
Ally Bank Buckets live inside your Saving account. You can fund your buckets with your checking or saving account, but ideally, you would fund buckets with your checking account. I fund my buckets on my pay dates.
Ally Bank Buckets
01. Emergencies 02. Home 03. Vacations 04. Wedding 05. Retirement 06. Vehicles 07. Occasions 08. Tax Payments 09. Education 10. Bill Payments 11. Family 12. Pets
You can even make your own bucket.
YouTube video
Ally Bank Smart Savings with Buckets and Boosters
Setting up Buckets
1. Sign into Ally Bank. Ideally, you have a checking and saving account, but you can do this with just a saving account. 2. Click your saving account. 3. Click **Optimize using Buckets** 4. Click **Done** 5. Set **Target Amount** \- not required but suggest you do. For example, I need $500 for vacation bucket. 6. Set **Target Date**\- not required but suggest you do. For example,I need the Target Amount by August 31st
**Ally Bank Buckets - Target Amount and Date**
Ally Bank Boosters (Recurring Transfers)
Boosters are how you fund your buckets. You set up Boosters to automatically take money from your checking account, usually on a payday, and move it to your buckets. Boosters are Recurring Transfers. There are a total of three boosters, but I use Recurring Transfers. The other two are to round up your debit card spending and move to savings or buckets, and let Ally bank determine if you have excess funds in your checking, and automatically move money. I'm not too fond of the last option, but it is available.
Ally Bank - Recurring Transfers
