Chime® is a financial technology company, not a bank. Banking services, credit, and debit card provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC.
 

How to Set a Personal Budget and Stick to It with a Bluebird Card

By Chime Team
October 10, 2019

A lot of people may not realize how budgeting is very important when it comes to their finances. Some do not even realize that they are living beyond their means until it is too late and they have no money left. 

Being an adult means being responsible in all aspects of your life. Creating a budget is the start to becoming financially responsible. It is a powerful money management tool that organizes all expenses and income so that it will be easier to understand how one should control their spending and be able to save money. But how does one create a manageable budget?

Steps for creating a personal budget

Some are intimidated by making a budget as it seems like a daunting task but it will be beneficial for the long run. There is no perfect budgeting strategy but there are basic steps that you can follow. 

 

  • Gather all records of your sources of income. If you are a regular employee, organize all your paychecks. If you are a self-employed individual, record all avenues which bring in a steady cash flow.
  • Track all your expenses. It is important to take note of all of recurring expenses such as monthly rent, electricity bills, water bills, and other payments that you frequently spend in a month.
  • List your financial goals. For your budgeting to work, you need to have clear and concise goals. Ask yourself what is your reason in saving money and list what you want to achieve.
  • Adjust your expenses. Now that you already have a goal in mind, the next step is to adjust your expenses in a way that would support that goal. 
  • Explore budgeting apps, tools, and software. There are numerous budgeting tools available that might be able to help you. 

 

Budgeting Can Be An Exercise In Trial And Error

While this is certainly a helpful guide, it does not always mean that you will be able to find the suitable strategy for you the first time. You have to try and mix things up until you finally find what suits your lifestyle. 

Using Bluebird Prepaid Cards for Budgeting

For some, the use of prepaid cards has become an alternative budgeting tool. Unlike credit and debit cards, a prepaid card has no chance to be overspent as you can only spend the amount that is available in the card. One of the popular prepaid cards on the market today is the Bluebird prepaid card. It almost has no fees which is very helpful for those who are looking to avoid too many charges and it has features such as:

  • Direct deposit
  • Bill pay
  • No monthly fee
  • No withdrawal fees at all MoneyPass ATMs
  • Free money transfer to other Bluebird account holders
  • Free top-ups at Walmart, via debit card, and Mobile Check Capture

Bluebird also has the Family Account where the main account holder can give cards to four family members and limit their spending, ATM access, and more. It is a valuable tool in teaching children how to budget their money. BlueBird also has the SetAside Account where you can put money away for any future needs. All of these features can be accessed through online or mobile banking. 

The Downside of Bluebird

While Bluebird has some great features, it is still not a bank account. You don’t have the option to build credit history and money is not insured. Bluebird also still has some fees such as withdrawing from out-of-network ATMs. If you are looking for a better option, try considering Chime Debit Card.

What is Chime?

Chime is an online banking account which has similar features to Bluebird but with absolutely no fees whatsoever. With Chime, you also have the benefits of having a real checking account. One that you can access from anywhere and at any time. It also has an Automatic Savings feature where a percentage of your direct deposits are set aside for future use. Better yet, the Chime debit card is even more widely accepted since it is associated with Visa. 

Interested in Chime? Read more about it by visiting their website at https://chime.com.


This guide is for informational purposes only. Chime does not provide financial, legal, or tax advice. You should check with your legal, financial, or tax advisor for advice specific to your situation. Your state or local unemployment agency is responsible for making all determinations on your eligibility for unemployment benefits. Please contact your state or local unemployment agency if you have questions.

Chime® is a financial technology company, not a bank. Banking services are provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. The Chime Visa® Debit Card and the Chime Credit Builder Visa® Credit Card are issued by The Bancorp Bank, N.A. or Stride Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit and credit cards are accepted. Please see the back of your Card for its issuing bank.

While Chime doesn’t issue personal checkbooks to write checks, Chime Checkbook gives you the freedom to send checks to anyone, anytime, from anywhere. See your issuing bank’s Deposit Account Agreement for full Chime Checkbook details.

By clicking on some of the links above, you will leave the Chime website and be directed to a third-party website. The privacy practices of those third parties may differ from those of Chime. We recommend you review the privacy statements of those third party websites, as Chime is not responsible for those third parties' privacy or security practices.

Third-party trademarks referenced for informational purposes only; no endorsements implied.

Opinions, advice, services, or other information or content expressed or contributed here by customers, users, or others, are those of the respective author(s) or contributor(s) and do not necessarily state or reflect those of The Bancorp Bank, N.A. and Stride Bank, N.A. (“Banks”). Banks are not responsible for the accuracy of any content provided by author(s) or contributor(s).

Address: 101 California Street, Floor 5, San Francisco, CA 94111, United States.

No customer support available at HQ. Customer support details available on the website.

© 2013-2024 Chime Financial, Inc. All rights reserved.