Warning: This is a complicated feature request to describe in simple terms!
The budget is one of the cornerstones of personal finance. BECU and other banks already offer tools to track spending, but this information is provided in hindsight.
What I would like to see is the following suite of user features: 1 - automation rules that users can configure on their personal checking and savings accounts to automatically deposit income
2 - the option to earmark accounts for specific purposes, or the option for virtual 'buckets' within accounts like CapitalOne360
3 - ability to assign unique debit cards to earmarked accounts or virtual buckets 4 - the option to limit overspending by blocking access to additional account funds outside of that bucket
Example A: - I create a bucket in my BECU savings account for mortgage - I create an automation rule that deposits (fixed amount or percentage) of income to my Mortgage bucket - I make sure this automation rule is prioritized over my wife's Vacation bucket : )
- I create another bucket in my checking account for groceries - I create an automation rule that deposits $250 per month MAXIMUM to that bucket
- Automation rule transfer options like 1x $250 transfer every month, or 52x transfer of $58 per year, etc - I go to local BECU to print debit card unique to that account or bucket - once I run out of money, I can't spend any more from that bucket with that debit card
- time to eat ramen noodles!
Example C: - I earmark a account for Allowance - I create a virtual 'bucket' for each one of my kids - each kid receives a debit card tied to their own bucket
- I create a rule so that if a kid spends all their money in their bucket, they do not pull funds from their siblings' buckets
These are very simple examples, and yes there are ways to *almost* do the same thing with existing automated transfer features.
But once you consider the full scope of personal finance products and priorities, basic automated transfer has its limits.