- This topic has 16 replies, 1 voice, and was last updated October 23, 2007 at 3:48 pm by .
- October 23, 2007 at 3:48 pm #253888
One thing you may want to consider is using TWO different banks. Completely separate. Use the First Bank ofA for part of your money and the Fourth Bank ofC for another part of your money. That way, even if you are subjected to a fee or two, you will not be completely wiped out and penniless until it is straightened out. For example, if you and your husband are both working, have one paycheck go to one bank and the other paycheck to another bank. Another way would be to put all the money in one account and then deposit just enough to pay your bills for that month into the other account. Say, one of you gets paid $1,000 every two weeks. Have that go into Account #1 at A bank. Then, the other one gets paid $950 every two weeks. Have that deposited into Account #1 at A bank as well. Go and remove
$700 needed to pay the bills and deposit it into the second bank account, get checks written off of that and pay the bills. If something happens to the $700 (fees, etc.), you still have the remaining funds to get by on. Herlean
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”
> As far as the automatic draft, my bank does the same thing. For
> 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
> 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
> 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
> > Hi!
> > I was just wondering how exactly anyone that does the envelope
> > makes it work. I was told by our mortgage lender that paychecks
> > to always go into a bank account to help show proof of income,
> > you put the money in the bank and do an
> > posts to the account and put it back in when its time to make
> > 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
> > caused my account to go in the rears…costing me close to $100,
> > would give me no credit or real explination as to why the
> > were posted Friday instead of Monday, like they were set up to
> > We are constantly over shooting our budget and it is getting
> > old!
> > TIA,
> > Amy
> Euclid, OH
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