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« Great Gift for Graduates: Four Pieces of Financial Wisdom | Main | Even More Money Advice for Graduates »

July 17, 2007

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I do have direct deposit, and it goes straight into savings. Money is then taken out when needed for bills, rather than the other way around.

I tried paying myself first but the utility companies found that arrangement unacceptable.

Where I work, paychecks are released at of after 5pm. Direct deposit will never be available because that would eliminate the weekend float on which my employer depends.

I finally figured out how to be faithful with saving. I had to open an account at a different bank (online savings account) and have the money automatically sent to that account each month through my automated bill payment program at my credit union. Trying to build a savings account at the same credit union where my checking account is was impossible. It's just too easy to get online and do a quick money transfer from savings to checking. Now, I'm actually saving AND I'm earning a much higher interest rate than I would at my credit union. :)

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