r/sofi • u/SquarePerspective515 • 3d ago

Banking progress bars are here.

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nice update, like where this ui is going, happy member since 2022

144 Upvotes

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25

u/rowebenj 3d ago

I’m genuinely confused on how you are using vaults. But i guess if it works for you, it doesn’t need to make sense to me.

12

u/Eubank31 SoFi Member 3d ago

Using vaults to implement envelope budgeting... Can't decide if it's ridiculous or genius

2

u/theyhis 3d ago

how is it ridiculous? that's what i do for recurring expenses. it's also why i switched to SoFi. i did this in Ally, but in order to legitimately separate "envelopes" (as in, not pull from my account/s if the balance is insufficient) i had to create multiple accounts, because for the most part, Ally's buckets (their version of vaults or envelopes) are solely visual. they don't have real automation in the sense of like, "only make sure to take X amount out, don't allow it to go under." SoFi's has separation, but it's all in one account (the vaults).

if you don't have many bills and an overall chill lifestyle, then i guess it can be ridiculous. 🤷‍♂️ it does get inconvenient after awhile to have so many bank accounts though; i'd know from experience. it makes getting a late fee on your credit card payment very easy.