Works great, and I build up a buffer with the utility over time. What I did for those, is I calculated a monthly average for the past year, added ~10% for padding, and have it pay that (so, if my average monthly power bill was, say, $74.14, I just have it send $80 every month). This includes variable bills, such as water and power. (The bank will even print and mail physical checks if you do recurring business with someone who doesn’t accept electronic payments). They’re paid from online banking, on the 1st. I took a job that pays monthly, on the 1st, to direct deposit. If you have ADHD, though, look elsewhere, it’s not for you. So, for me, I need simplicity and as much set-it-and-forget-it automation as possible.īut for you very hyper-disciplined types, YNAB might be right up your alley! I do highly recommend it, if you have the temperament for it. I’ll do it for a few days, get overwhelmed and distracted, fall behind, hustle to catch my ledger back up, futz around with duplicates and mismatched numbers (e.g., “Where did this extra 3¢ come from!?!? And why did Amazon charge my bank $2.21 less than what’s listed in my order on the website!?!? Did they split one order into two transactions?! But the two transactions don’t add up to the value of my order! I’m confused… Ah fuck it, I’ll create a dummy transaction to balance the books…”), repeat, and eventually burn-out on it. I am simply not going to manage my individual transactions every single day. I tried for years, before giving up and accepting myself for who I am (lazy). I love the idea of it.Īlas, it’s not for me, because I simply do not have the long-term grit and discipline to keep up with it. YNAB is a great concept, and it’s really good software, too. Here, please treat others with respect, stay on-topic, and avoid self-promotion.Īlways do your own research before acting on any information or advice that you read on Reddit. Get your financial house in order, learn how to better manage your money, and invest for your future. Banking Megathread: FDIC, NCUA, and your cash. Private communication is not safe on Reddit.
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