Tuesday, January 4, 2011

Set up automatic savings and go paperless

If you're like me (and who isn't :-) you've got online banking. In fact, you pay all your bills this way. There's no other way to do it in the modern era. Stamps not only waste paper, but at 48¢ a pop, that can add up ( 0.48*10 bills*12 months = $57.60/annum not including envelope costs).

So the first thing to do is set up online bill pay with your bank for all your bills if you haven't already. Next, turn off paper delivery of your bills. You don't to be recycling that much paper per month, and storing all of those bills for so long only to never read them is a filing nightmare and a space waster. And since I live with limited space, I value even the smallest bit of reclaimed storage. I'm not able to go entirely paperless for some of my accounts due to weird investment bank rules, but for the most part, I get all my bills online and only look at them (online) when I need to dispute a charge.

Lastly, with your online banking, set up automatic transfers to your savings and/or money market account. If you don't see the money in checking, it's likely you won't be tempted to spend it on a splurge item, and it'll earn more interest (though admittedly not much) in a different account other than checking.

Also, tomorrow is Twelve Night, or Epiphany. Make sure you've got some King Cake or Galette des Rois either on order or in the oven (My oven is stil broken, grrrr!)

No comments:

Post a Comment