Financial Auto-Pilot

by May 19, 2010English, Financial, inspirational0 comments

Today I just setup some auto-pilot payments towards debt payments and saving. I used to do manual payments from my Company to my private account. I planned to pay myself a fixed monthly payment just before I do my rental payment and debt payment. And the rest should be enough to life for in the month. I removed my credit card and any credit on my checking account.

Today I found out the bank has a nifty variable auto tranfer feature: You can transfer money to your savings account depending on your checking account balance.  Every week everything above 500 Euro is transferred to my companies savings. This will protect my money from accidental withdrawels in case my bank card is stolen or skimmed. And I don need to think about paying myself anymore, and the excess money I earn will be put into my financial reserves…