Question about how envelope method works exactly…

Budget101 Discussion List Archives Budget101 Discussion List Question about how envelope method works exactly…

Viewing 0 reply threads
  • Author
    Posts
    • #253848

      I have to cirumvent any problems with the bank pulling out the money

      before it’s in there, is to actually make sure I send the payment a

      few days after my check is scheduled to be deposited. I double check

      every month to be sure that the date it’s supposed to be pulled out

      is on the right day, if not, I change it.

      — In Budget101_@yahoogroups.com, “Monique Burkes”

      wrote:

      >

      > As far as the automatic draft, my bank does the same thing. For

      example, I

      > get paid this Friday, the 26th. If I have a bill payment set up

      to be paid

      > on the 26th, they pull it out of my account on the 25th, which I

      didn’t

      > realize. My previous bank didn’t do that. My previous bank

      didn’t pull the

      > money out of my account until the check actually cleared. Learned

      that

      > lesson the hard way, but they refunded my $50 fee.

      >

      > But, yes, get direct deposit, then pull the necessary amount out

      in order to

      > pay your “cash” bills (gas, groceries, clothing, etc).

      >

      >

      > On 10/23/07, Amy & Dustin Roach wrote:

      > >

      > > Hi!

      > >

      > > I was just wondering how exactly anyone that does the envelope

      system

      > > makes it work. I was told by our mortgage lender that paychecks

      need

      > > to always go into a bank account to help show proof of income,

      so do

      > > you put the money in the bank and do an immediate withdrawl

      after it

      > > posts to the account and put it back in when its time to make

      that

      > > payment? I’ve tried setting up our bank acct. to auto pay partial

      > > bills all month, but this past time they took moneies out early

      and

      > > caused my account to go in the rears…costing me close to $100,

      and

      > > would give me no credit or real explination as to why the

      payments

      > > were posted Friday instead of Monday, like they were set up to

      do.

      > >

      > > We are constantly over shooting our budget and it is getting

      really

      > > old!

      > >

      > > TIA,

      > >

      > > Amy

      > >

      > >

      > >

      >

      >

      >

      > —

      > Monique

      > Euclid, OH

      >

Viewing 0 reply threads
  • You must be logged in to reply to this topic.

Budget101 Discussion List Archives Budget101 Discussion List Question about how envelope method works exactly…