Preparing To Automate Your Finances

The assumption here is that you are paid twice per month, the 15th and the 30th of each month. If not, make the necessary adjustments to suit your situation. Prior to Automating do the following –

From the website: iwillteachyoutoberich.com

• If your employer provides direct deposit for your paycheck, accept it.
• Register with all your accounts online for – checking, savings, loans, mortgages, credit cards, investments etc. 
• With the help of your bank customer service, schedule your bills that do not accept credit payments to be paid on the 5th and the 20th of the month accordingly.
• Register with Mint.com online and download the app for your smart phone and tablet.
• List/budget for the items you pay for or make payment to on a regular monthly basis.
• Make a separate list with the items you pay quarterly or otherwise. 
• Get the best credit cards (one from each: Visa, Master Card and American Express) available to you based on the interest rate, cash back programs and or travel benefits (More this later regarding building your credit rating).
• Make arrangements with your vendors/creditors and change half of the due dates on your bills to the 10th and the other half on 25th of each month. This is important if you are paid twice per month (the 15th and the 30th). This is only required if you chose not to use the credit card payment strategy and pay your bills with your checking/debit card account.
• If you have a mortgage arrange with your bank to make bi-weekly payments due on the 10th and the 25th of the month. Or, refinance with a lower rate with a financial institution that offers a bi-weekly repayment plan. Many banks are now offering such plans.

Modern technology could bring you the peace of mind you deserve after working so hard for your money. Use it to your advantage.

See you at the next Blog. All the best!