Automation And Cash Flow
Objective: Set up automatic billing and deposits from your job.
- Income- Ask your employer to divide your paychecks between your two checking accounts. Recall, checking # 1 will host majority of your income. While checking #2 will be a constant, fixed amount for fun expenses.
- If your employer does not have this option, deposit your income into checking #1 then transfer the amount you allotted into checking # 2.
- Next, connect the three savings accounts to checking #1 by adding them as an external account via the website.
- When setting this up online you may be asked to verify a deposit from your checking account’s financial institution to the savings account’s institutions. This is a verification process that may take up to 48-72 hours.
