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Several years ago the HM and I managed to finally increase the month at the end of our money by a small trick with the checkbook. Whenever we wrote a check into the register we rounded up the amount to the dollar. A check for 2.25 was written in the register as 3.00.
Ideally, every other month or so we'd reconcile the checking account and deposit the surplus in the savings account. Realistically, we'd reconcile the checking account and use it to pay down a bill or buy toilet paper.
It wasn't much, but it helped us improve our spending and saving habits.
Saturday, January 21, 2006
The Month at the End of the Money
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2 comments:
Bank of America will do this now for you automatically: debit-card and checks are rounded up to the nearest dollar and the surplus is sent to a savings account. We signed up for this a little while back - the product is called "Keep the Change".
My grandmother-in-law did this for years on her own. When they moved to a different city and she closed out her account, there was in the neighborhood of $5,000+ extra in the account.
Seems to me it's a easy way to miss when checks don't cross the bank for exactly the amount you wrote them for. I'd go crazy trying to balance my checkbook this way! :)
Personally, I like pay yourself first.
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