CRLLS
Thinks s/he gets paid by the post
Recent discussions of having multiple online banking has made me think about the process of moving money around periodically. There are various streams of income, certainly many expenses to deal with and several in between retainers of our cash money.
Has anyone ever actually charted their actual cash flow? It can get fairly complicated with automatic payments to credit cards then having to move money around to the right account to make that CC payment. With some of you having multiple online banks and physical banks, how do you manage the flow of the various puts and takes? Do you have a flowchart so that your SO will be able to understand it when the time comes?
Additionally, I'm thinking of starting a Fid Cash Management account with bill-pay and better interest earned to replace ~90% of my local bank services. While it will be to my financial advantage, I wondered if it was adding unnecessary complication to my monthly cash flow. I was thinking that creating a "now" and "possible" flow chart would help me understand better.
Do you have sample charts that you would like to share?
Has anyone ever actually charted their actual cash flow? It can get fairly complicated with automatic payments to credit cards then having to move money around to the right account to make that CC payment. With some of you having multiple online banks and physical banks, how do you manage the flow of the various puts and takes? Do you have a flowchart so that your SO will be able to understand it when the time comes?
Additionally, I'm thinking of starting a Fid Cash Management account with bill-pay and better interest earned to replace ~90% of my local bank services. While it will be to my financial advantage, I wondered if it was adding unnecessary complication to my monthly cash flow. I was thinking that creating a "now" and "possible" flow chart would help me understand better.
Do you have sample charts that you would like to share?