How to Automate Your Personal Finances

Thursday January 17, 2008

Who wants to waste time paying bills? If you like to put things on auto-pilot, you can use a system of bank accounts to keep current on your bills while earning interest on your cash.

Over at GetRichSlowly.org, they've got a system that you can copy. You set up several bank accounts (at the same bank) and use automatic transfers, online bill pay, and direct deposit to keep the whole ball of wax together. While you're waiting for bills to come due, your cash sits in a savings account earning as much as it can.

Take a look at their system and see if there are any ideas you can steal to make your life easier. It's a little complicated for my taste, but I applaud the effort to automate your finances so that you can spend time on the finer things in life. [via LifeHacker.com]