Dumb Little Man has a really well thought-out and laid-out piece about how he handles banking. He says it’s not necessarily the “best” way to bank, but it’s his way. Of note in his system:
- 3 Bank Accounts- one for direct deposit, one each for his and his wife’s expenses.
- 2 Back-up/Emergency fund vehicles – a money market and a CD.
- Investments via matches.
- Business Accounts.
- Bill Paying via Quicken.
- College Funds.
I like the information, especially since I’m really bad with money. Give it a read, and add your tips. I’m always up for new finance tips.
How I Bank and Manage Cash – [Dumb Little Man]