Payday

I recommend having 2 checking accounts. One that you pay regular monthly bills from electronically (this account I never write checks from only automatic withdrawals) the other account I pay other bills from.

Let me break this out:
Account 2--I transfer a set amount into it every payday. I get paid every other week which is 26 times a year.
From this account the following are paid:

YMCA $33.50
AT&T 65.00 (phone & dsl)
Consumers 120.00 (gas & electric)
Consumers
Stock 25.00

Which totals $245 dollars. (I need to double check the average $120 for Consumers-might be a bit higher) Then I multiply $245 by 13 (which is 1 year + 1 month) then divide by 25. (26 paydays less one) which equals $127.40 which I round up to be $150.

Every payday then from Account 1--(my company will only deposit into two accounts total, so I have a set amount into a savings account that I use for vacations/emergency/remodeling/IRA $ the balance goes to Account #1) I then transfer $150 every payday to the Account #2 for all the automatic payments.

Then from Account 1--I make my donation to the church, pay my Visa and or American Express bill (usually in full) and the maid. Other non monthly bills will be paid from here also as will my quarterly donations to the two charities I donate to.

Probably 2 or 3 times a year I'll double check to make sure I have enough money being deposited into my accounts so that there is a bit of a cushion and so that at the end of one month all of the money for the next month's full payments are all their. I want to always be a head of the game not behind.

I'm trying this year something new. I'm transfering $15 into a normally dormant savings account to use the money in November and early December for charity. I already donate at this time but I'm hoping this will make it easier to keep track of.

I still want to do a charitable thing each month. It's easier at the end of the year to think of things. Church now has a food pantry and Catholic Social Services has a list of items they need so that's a good start for this month.



$150 American Express
800 Visa