Comments on: Moving Into the Automatic Finance Camp

By: Broke by Choice

Broke by Choice — Mon, 14 Dec 2009 22:57:32 +0000

I would like to be 100% automatic, but right now there are still things I have to do manually.
all bills and debt payments are automatic, but I have to make extra payments manually. I still have to go to the ATM for cash. When I turn on my retirement accounts, you best believe they will be automatic.

By: Slinky

Slinky — Tue, 21 Jul 2009 20:16:24 +0000

I’m required to have direct deposit and I have some paycheck deductions. Otherwise I only automate things when I’m directing things from my end. So I’ll use auto bill pay from my bank, but I won’t authorize anyone to auto debit my account. The only one who is allowed to remove money from my accounts is me.

By: Zack

Zack — Sat, 11 Jul 2009 11:31:50 +0000

Pretty cool post. I just came by your blog and wanted to say that I have really enjoyed browsing your posts.

Any way I’ll be subscribing to your feed and I hope you post again soon!

By: La Terra

La Terra — Mon, 06 Jul 2009 01:20:27 +0000

I automate everything. I have only one credit card that I avoid using so I auto pay my cell bill every month on it then auto pay the credit card the next pay period- just to maintain credit history. I would suggest though the tool that only allows debits after you approve the electronic payment. My bank has a mobile banking application that updates right away- love love love this feature. It’ll let you see the last 5 transactions, move money between accounts, and even manage bills.

By: Emma

Emma — Sat, 04 Jul 2009 19:39:27 +0000

I have some of my expenses automated: bus pass (I get it mailed to me, pay less, and don’t have to worry about them running out), end of the month student loan payment (but I pay more on it on the 15th of each month, to reduce it quicker), & RRSP deposit.

Everything else I do manually, but the only other expenses that come out of my account are my credit card payment (all of my purchases get put on the credit card); the rent cheque, my transfers to my savings accounts, and my cheque to be deposited into my “joint expense” account with my boyfriend (which is also used to pay off my credit card).

I do worry though that the automatic expense of my student loan payment is going to come back and bite me in the butt though, since it’s scheduled to come out on the 30th for x number of months (whatever the original 15 years correlated to). Now that it should be paid off in three years, I’ll have to call them closer to that final payment date and figure out how to undo that auto-process!

By: Single Guy Money

Single Guy Money — Sat, 04 Jul 2009 16:54:51 +0000

I like to maintain control over what goes where so the only things I automate are my 401k contributions and savings account contributions.

By: Jessie

Jessie — Fri, 03 Jul 2009 20:28:50 +0000

I have nearly everything automated….

My pay…My three utility providers (enmax, shaw, bell), all of my savings accounts (ING, 3 seperate acounts), RRSP (CIBC), Shares (I buy through work – comes off my pay)… ect.

By: dani

dani — Fri, 03 Jul 2009 16:02:57 +0000

Hi, good post. I have been wondering about this issue,so thanks for posting. I’ll definitely be coming back to your site.

By: Kim

Kim — Thu, 02 Jul 2009 23:03:55 +0000

I don’t automate anything, because I am too anal to not do it myself. When I was working, I had direct deposit, and I guess that’s kind of automatic, but that’s money going in and not coming out! These days, I *have to* manually deposit the unemployment checks, and I manually pay my bills each month. Living paycheck to paycheck, I just can’t get comfortable with anything being automatically taken out of my account! I feel much more in control doing it myself.

By: moody

moody — Thu, 02 Jul 2009 17:54:47 +0000

i have my paycheck deposited into my checking account (i’m paid bi-weekly). my roth ira contributions and student loan (currently in deferment) are auto deducted from my checking account. my cell phone and netlfix are auto charged to a credit card (with internet to soon follow).

i make payments to my credit card “manually.” this is also my preferred method for moving money into my online savings accounts.

By: FB @ FabulouslyBroke.com

FB @ FabulouslyBroke.com — Thu, 02 Jul 2009 12:56:02 +0000

FB @ FabulouslyBroke.com

I hate automating anything. Drives me crazy. Totally nuts. I always forget it’s coming out, unless it’s every month, $500 for debt (which I thankfully do not pay any longer), and sometimes I just forget to take care of it

Which reminds me.. I have to pay my cellphone bill.

By: eemusings

eemusings — Thu, 02 Jul 2009 05:32:30 +0000

Great post. I automate very little – only things on auto payment is rent and BF’s car loan. Everything else I do manually – a, because I’m a control freak and b, our income varies. I’d feel much more secure about automating things with a steady income.

By: eric01985

eric01985 — Thu, 02 Jul 2009 03:29:29 +0000

I am totally automated for most expenses. I have 401(k), Roth, insurance, and even a $5 donation to a non-profit I picked taken out by my company every paycheck. From there, I use ING as a hub. I make an automatic payment every payday to my auto loan and student loans. Every month on the first I use a recurring bill pay for my car insurance and cell phone.

The only things I do that are not automated are pay rent and my credit card bill. I write a check to the landlord and pay my credit card online through the card website.

Automation of finances is one of the best inventions ever, in my humble opinion.

By: JustBeth

JustBeth — Thu, 02 Jul 2009 03:25:38 +0000

My 401(k) and savings accounts are fully automated on payday. My cable and cell phone go to my credit card, but everything else is paid manually (including the credit card, so I can analyze the bill).