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Where Does Your Paycheck Go?


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I deposit my paycheck into my savings account rather than my checking account. I then go online and transfer what I need, when I need it (free at my bank). Watching that balance go up makes me want to spend as little as possible.

- Submitted by RARANM 7/18/2010 in Saving Money | 3 Comments
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Member Comments

BABY_GIRL69 9/3/2010 3:53:00 PM

    Thats an idea....Thanks for sharing!
GAIAGIRL1 7/19/2010 9:52:00 AM

    Be careful of the federal regulations that only allow 6 withdrawals from savings every month. You do not want to accumulate fees when trying to save money. A way around this is to keep a minimum balance equal to one month of budget expenses. Then arrange transfers to re-imburse this minimum balance from savings with your actual bill amounts.
EGRAMMY 7/18/2010 5:13:00 PM

    Thanks for a great idea

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