Today, we’re chatting with No Debt Plan, of the site of the same name.
How do you spend: cash, debit or credit?
Mostly credit, but more recently due to a great local bank offer we have mixed in 10 debit transactions per month.
Do you bank online? How about use a financial aggregator (Mint, Wesabe, Yodlee, etc.)?
I bank online with my individual banks, but don’t use a financial aggregator. I don’t like one company having all of my login info. Additionally I could never get any of the websites to do the budget the way I do (flexible budgeting).
What recurring bills do you have set on autopay?
Every single one that I can. Power, gas, cable, cell phones, trash pick-up, etc. Literally every bill that can be automated, is. The only exception would be our mortgage because usually add additional principal. (Plus I track how much we have paid off for our net worth so I need to look at it anyways.)
How are your finances automated?
Just automatic payments setup for most of the bills that allow it. I do manually budget reviews once per week or so to make sure we aren’t at risk of going over on groceries or some other category.
Do you write checks? If so, how often?
Yes. Once per month as our tithe to our church.
Where do you stash your short-term savings?
We used to stash them in our ING Savings account. But a small local bank is offering 4.41% on a rewards checking account and we are taking advantage of that for now. Any money that is over the account limit (there is a maximum amount that will earn the high interest rate) goes into ING.
About the author: Jason is the author of Automatic Finances: 17 Days to Your Financial Freedom, a guide to automated money management. He started investing thanks to a free lunch, and after finding out how he was getting the short end of the stick, he sought out how to do it right. More »