Originally posted by sir shovelhands
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Originally posted by LetsGetBloody View PostProbably more than you wanted to know or were asking but here ya go! Hope this helps. Haha
Been working on the right automatic setup for years. This seems to work pretty well for us theough lots of direct deposits or automatic transfers when needed...
1...Contribution to 401k with Fidelity
2...PAY YOURSELF FIRST Savings which includes TD Ameritrade, Vanguard, & a safe cushion DO NOT TOUCH savings account with Marcus by Goldman Sachs (1.6% & FDIC insured savings account, Ally is pretty good now too at 1.5%). The Intelligent Investor, The Automatic Millionaire, and The Millionaire Next Door books are all great reads that helped us finally get our finances in order years ago and start paying ourselves first! That’s the reason these accounts exist. Highly recommend reading if you’re interested & have time.
3...Main Bank: 1 checking for all expenses & bills, 2nd checking for tithe, 3rd checking for vacation funds, 4th checking for big things we want to buy (pay ourselves a monthly payment until save enough cash to buy item. This really helps with staying out of debt), and 5th checking for smaller things my wife and I’d like to have
4...cushion checking through another bank that we can access so we don’t touch our main savings accounts
5...An additional Marcus by Goldman Sachs savings account to save up for rental properties & other investment opportunities only
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