How I Automate my finances to save & invest more - MULTIPLE Bank Accounts

#focusedspender #debtfreecommunity #personalfinance

This video will detail what happens to my paycheck along every step of the way, from pre-tax to direct deposit to savings and investing. This is KEY to successfully building my savings account and investments.

Connect With Me -

If you ever wonder how many bank accounts you should have or if you should stick to a cash envelope system, this is the video for you. Many people use cash envelopes but I have multiple bank accounts to manage my money. It helps me track my money easily and stay accountable. I use capital one 360 and bank of America.

[seluinitaufa]

Yes automated savings changed my life and outlook about money. Savings first, then bills then spend the rest. Never feel bad about buying anything anymore.

[tiffanykyer]

Wow. My favorite part, “That’s pretty much it.”😄

Thank you for taking the time to share with us.

[saralynnebrown]

Just found your channel! So happy to see someone else with the same "bills account" approach! Someone told me to do this when I started my first job two years ago, and it was the best advice I ever got. I treat it as a business account and I don't touch it - everything is automatically paid out of that account.

[enneirda]

Automation is key to building wealth. I also agree with not automating bills. My mom had a friend who was automating her Bill's and one of them was accidentally charged for 10x more than the amount. She ultimately got it back but it took time.

[lledrok]

I have some automatic payments but not everything. That's my next goal!!!!

[buffteethr]

Don't be scared of credit cards. If you are disciplined you can make $1000 a year using a rewards credit card. Pay your regular bills and cash purchases using a rewards credit card then pay it off immediately with the cash and collect the rewards.

[ccb]

This is a great idea that I'd love to map out for my own finances 😊
How do you handle highly variable bills such as gas, for instance?

[philipw]

I guess you would call be a new subscriber and I want you presentation was awesome. I will be adding the alert bell and remove your tools. Sorry I am not social media.

[alliewesq]

Hi @focusedspender. Great video!! What’s the difference between your build wealth and safety net accounts? Is the build wealth the normal retirement accounts or is that the “safety net”?

[tatianazoe]

Great video! You could just have an email sent out to you so you make sure your autopay stays the same. :)

[StrawHatBaka]

Just asking, if you traveled back in time and became 18 agin with all your financial education would you still goto college? Do you think going to college is worth the cost, debt and loss of time you could be earning money from a job.