Making it All Automatic

All Automatic

One of the things my FA (financial advisor) wants to do for me is to set up my finances so that I’m able to spend whatever money’s left in my chequing account guilt-free. He’s already set up quite a bit for me so far, so that with each paycheque:

my loan payment is withdrawn automatically
my savings amount is withdrawn automatically
He would love to set up my rent and other bills to come out automatically, however because it’s not a mortgage but a rent payment, he can’t quite do that. (much to his chagrin–it’s kind of funny to see how frustrated he gets at this.) To assuage this need of his I’m thinking of setting up a separate account for my rent and bills, so that I can shuttle money over to it, and then have the payments come out automatically. That way I can still spend whatever’s left in my chequing account guilt-free.

Slowly but surely my finances are coming together. I know it’s only been 6 weeks since I met with the FA and set all of this up, but it’s quite exciting to see everything come together, you know?

Making it All Automatic

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