I’ve experienced a few major stressors over the last few years, so it’s a wonder that my finances are in decent shape. Years ago I set up a good system, and it’s that system that saves the day when I’m not able to pay close attention.
Gina Trapani over at Lifehacker writes about her system, which is a lot like mine. All of my bill-paying is automated via NetBank (with the exception of our car insurance, which is automated via our credit union). My NetBank money market account covers the occasional overdraft, thus serving as my buffer account. I have twelve savings accounts at ING Direct, eight of which get weekly automatic deposits. I increase my 401(k) contribution by a certain percentage every year (1% because it’s a new year, 1% when raises come through. I haven’t hit the matching ceiling yet). I also have a habit of checking my bank balance every day, just to make certain that nothing surprising has happened.
It’s been over a year since I’ve balanced any of my accounts. They’re due for a cleanup, plus I need to re-evaluate my savings strategy. That’s the project of the moment.
Posted by (JavaScript must be enabled to view this email address) on Wednesday, May 31, 2006 at 11:06 AM
Personal finance •
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I ought to do a nice redesign of my own site… though something makes me want to go all Flash and really make it something special, and I hardly have time for that. Maybe in August.
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Treasure every day because they do not come back.
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