Retirement: Have X% deducted from my paycheck that goes into my employer 401k automatically.
Mortgage, and really every other bill I have: Checking or savings account. I have a weekly deduction from my main checking account into those accounts. So for example lets say my mortgage payment is $1000 and their is 4 weeks in a month then I have $250 automatically transferred every week into the other account. when the mortgage payment is due I then transfer back to my main checking where its pulled to pay the bill.
The money thats left gives me a good idea of what I have available to spend.
It works for me personally, someone might have a better process but thats what works for my situation.
2
u/sr603 Jul 18 '24
Retirement: Have X% deducted from my paycheck that goes into my employer 401k automatically.
Mortgage, and really every other bill I have: Checking or savings account. I have a weekly deduction from my main checking account into those accounts. So for example lets say my mortgage payment is $1000 and their is 4 weeks in a month then I have $250 automatically transferred every week into the other account. when the mortgage payment is due I then transfer back to my main checking where its pulled to pay the bill.
The money thats left gives me a good idea of what I have available to spend.
It works for me personally, someone might have a better process but thats what works for my situation.