Who?

Not Brad

Our “Butler” is our bank. We have everything setup on auto draft. Haven’t been late on anything in over 25 years. It’s nice to not worry about the day to day and month to month stuff. We send a set amount to savings each month, then rest we blow on whatever.

Maybe not the best way, but it works.

Me too.

I don’t understand why more people don’t do this.

I get ONE bill a month that I can’t set up on auto draft and I always have a several hundred credit balance, that I fund a few times a year, in that account, so I don’t have to worry about it

Billy, to have a score thst high ypu had alot of debt i would think. Not saying I'm right, just thinking out loud

Same

Why not setup auto pay and then check once a month to make sure there isn’t a problem with one of them? Then you’ll never miss a payment, and also won’t have something crazy happen, like a credit card linked to a bill expiring, or the biller dropping some massive fee on you, etc.

It doesn’t work that way. It means you have very good record of pay with a really low debt to income ratio.

The strategy up to this point has been to keep the checking account low, so we feel broke. Basically income gets direct deposited into a single checking account, then gets auto transferred to about 15 other accounts. "Mortgage fund, vacation fund, auto fund, kids college fund, savings, investments, emergency savings, home repair, taxes, etc..." Those accounts always have what they need and you never have to worry about them running low. The main checking account however, it can run dangerously low some times. Hence the artificial feeling of being broke. If we set up autodrafts on the credit cards out of that account we absolutely would over draft sometimes. It's worked okayish over the years, but requires significant manual intervention. I wanted to hear how other folks do it, hence this thread. It may be time for a change. I'm going to give the full autodraft thing some thought.