https://boards.hellobee.com/ Pregnancy, Baby and Parenting blog, by Hellobee en Tue, 12 May 2026 05:18:24 +0000 https://boards.hellobee.com/topic/automatic-transfer-to-savings/page/2#post-2477080 Sat, 27 Feb 2016 16:34:16 +0000 Bao 2477080@https://boards.hellobee.com/ <p>@gingerbebe: thanks for sharing! Honestly we always struggle, so now that our savings is in the $6k and some change range I don't want that to go away. With DH being the only income, if he lost his job we would be screwed without that money, his field is very hard to get into. </p> https://boards.hellobee.com/topic/automatic-transfer-to-savings#post-2477077 Sat, 27 Feb 2016 16:29:18 +0000 gingerbebe 2477077@https://boards.hellobee.com/ <p>@Bao: I totally admit it was easier going hardcore before we had DS. We lived in a cheap, dumpy rental, DH worked nutso hours, I had time to bargain shop and coupon for stuff, and I drove my tiny, beater 12 year old car everywhere. We were two attorneys living like we were flat broke (because technically we were). If we ran into some kind of money emergency, it would just inconvenience us, not a child.</p> <p>After our son was born, obviously I had less time to meal plan and shop around, babies cost money, and I took a long unpaid maternity leave. And our old rental was just so cramped and crappy that we couldn't really make it a safe play environment for our son. So we bought a house (albeit its pretty modest and reasonable), our expenses increased for a while, and things had to ease up a bit on the debt payments. </p> <p>BUT we also didn't give up on working on it completely because we figured it was better to get out of debt while our kids were younger when they wouldn't remember or care if we were being cheap about stuff. So after about 9 months, I think we were like okay, the baby is on a predictable schedule, we're moved into the new house, let's get back to business, and we buckled down again, even if it wasn't quite as severe as we were before kids.</p> <p>If we didn't have such great healthcare coverage through my job or other large bills, perhaps we would have saved up a lot more in an emergency fund before doing the debt snowball, but yeah, you gotta find where you are comfortable. We decided for us the $1,000 emergency fund was too small because DH's old Jeep never had a repair under $1,000 when it needed something so we always kept $2,000. We got rid of the Jeep, but then had a house, so we were like yeah, if the fridge goes out or we have a plumbing emergency, we'll need about $2,000 to cover that. </p> https://boards.hellobee.com/topic/automatic-transfer-to-savings#post-2477073 Sat, 27 Feb 2016 16:10:08 +0000 Bao 2477073@https://boards.hellobee.com/ <p>@gingerbebe: I've always been interested in doing things how he suggests but I get so nervous dumping all of savings into debt and having nothing... </p> https://boards.hellobee.com/topic/automatic-transfer-to-savings#post-2477061 Sat, 27 Feb 2016 15:53:56 +0000 gingerbebe 2477061@https://boards.hellobee.com/ <p>@Bao: It's not harsh, that's basically what we do. Dave Ramsey has you keep a baby emergency fund of $1,000 before you start throwing all your extra money at your debt but we have more like $2,000 since that's what a common but major car or home repair would cost. We put most of our excess funds to debt (like way above our minimum payments) so if we had a sudden expense we could probably handle it. We bought a house while still in debt, which is a Dave no-no, but our rent was going to be higher than our mortgage and we would get a tax deduction so we went for it. We also don't totally follow Dave's plan in terms of retirement - he would have you put in minimal contributions until you are debt free but we were paying so much in taxes our accountant was losing his mind. So in addition to the house we we max out our retirement to bring down our taxable income. Our strategy sounds nuts to most people, (including our accountant) BUT we paid off my law school loans completely and have paid down 60% of DH's law school loans in the last 4 years and we feel that we will be able to amass a much more robust savings very quickly once out student loans are gone. Our goal is to be done in 3 more years. </p> https://boards.hellobee.com/topic/automatic-transfer-to-savings#post-2477015 Sat, 27 Feb 2016 13:57:59 +0000 runnerd 2477015@https://boards.hellobee.com/ <p>We have $xx amount as auto transfer the 1st of every month to our savings account and 529 account. Most of our other excess money goes to debt pay down currently, but we usually manually transfer to savings 2x more during the month based on the budget we have made for the month. </p> https://boards.hellobee.com/topic/automatic-transfer-to-savings#post-2476984 Sat, 27 Feb 2016 12:48:38 +0000 Bao 2476984@https://boards.hellobee.com/ <p>@gingerbebe: so you use extra towards debt then, and you don't save at all?</p> <p>ETA: that sounded harsh, lol I meant you roll that into debt vs saving... </p> https://boards.hellobee.com/topic/automatic-transfer-to-savings#post-2472794 Wed, 24 Feb 2016 13:20:53 +0000 gingerbebe 2472794@https://boards.hellobee.com/ <p>Other than DS' college contribution, we will not automate savings until we are debt-free but the mortgage, per Dave Ramsey. Some day I'll have a big savings account....some day.... </p> https://boards.hellobee.com/topic/automatic-transfer-to-savings#post-2472743 Wed, 24 Feb 2016 12:54:12 +0000 MediaNaranja 2472743@https://boards.hellobee.com/ <p>I have it set to deposit $40 into savings every Friday, which amounts to about $2000/year. We're working on building it back up, as it took a big hit (like, down to 0, lol) when we bought our house earlier this year. I also have the same Way2Save setup as @BelugaBean: where $1 is transferred each time there is a debit transaction. Small enough that it isn't noticeable, but adds up over time! I also have a cash rewards credit card through Wells Fargo, and when the balance hits $25 it auto-deposits into savings as well. </p> <p>We are not great at saving, and the next thing we need to tackle is building an emergency fund. It makes me nervous that our savings can only cover 1.5 months of mortgage payments!! </p> https://boards.hellobee.com/topic/automatic-transfer-to-savings#post-2472716 Wed, 24 Feb 2016 12:42:31 +0000 PurplePeony 2472716@https://boards.hellobee.com/ <p>My paycheck is direct deposited into several different accounts. Retirement is withheld by my employer and then set amounts go into household checking, regular savings, emergency fund, and the savings account I keep solely for student loan payments. The remainder goes into my personal checking. DH has his paycheck deposited into his personal checking and makes transfers to our joint accounts once a month. </p> https://boards.hellobee.com/topic/automatic-transfer-to-savings#post-2472715 Wed, 24 Feb 2016 12:42:13 +0000 schubr03 2472715@https://boards.hellobee.com/ <p>We auto transfer a set amount into our baby's savings account monthly. </p> https://boards.hellobee.com/topic/automatic-transfer-to-savings#post-2472712 Wed, 24 Feb 2016 12:41:32 +0000 BSB 2472712@https://boards.hellobee.com/ <p>I do twice a month deductions from my account for my one of my savings account.</p> <p>I also take a portion of my paycheck and put it into savings. It's direct deposited so I just set it up in my company profile. </p> https://boards.hellobee.com/topic/automatic-transfer-to-savings#post-2472705 Wed, 24 Feb 2016 12:38:10 +0000 Autumnmama79 2472705@https://boards.hellobee.com/ <p>I have an automatic transfer set up for every 2 weeks. I'm happy with it! </p> https://boards.hellobee.com/topic/automatic-transfer-to-savings#post-2472699 Wed, 24 Feb 2016 12:36:39 +0000 Pumpkin Pie 2472699@https://boards.hellobee.com/ <p>We do a set amount monthly. I like this because it forced us to save, and use whatever is in checking only. In the past, we have had to adjust for some expenses, but I try to make we don't do that often. We haven't had to do that in at least a year. </p> https://boards.hellobee.com/topic/automatic-transfer-to-savings#post-2472568 Wed, 24 Feb 2016 11:29:15 +0000 Mrs. Cereal 2472568@https://boards.hellobee.com/ <p>We both do an automatic $25 per month to each savings accounts and another $25 per month to each 529 account for the kids. I never miss the money because we've been doing it for so long. It's not much, but it adds up in the long run. </p> https://boards.hellobee.com/topic/automatic-transfer-to-savings#post-2472564 Wed, 24 Feb 2016 11:27:16 +0000 DillonLion 2472564@https://boards.hellobee.com/ <p>@bloved: We did the same thing. Anytime our incomes increased or our expenses lowered, we added the difference to our savings and avoided living on it/getting accustomed to a different lifestyle. We've done that now for over 2 years and that little gap money has grown substantially as we work to become more frugal and have gotten raises. I highly encourage trying this method anytime you can! Obviously making changes to either side of the equation is not easy peasy, but anytime it happens, use it to your financial advantage! </p> https://boards.hellobee.com/topic/automatic-transfer-to-savings#post-2472552 Wed, 24 Feb 2016 11:22:22 +0000 tinyperson 2472552@https://boards.hellobee.com/ <p>I do a cascading automatic savings every week. For each week in the year, I transfer an amount, starting with 52 in January, and ending with 1 at the end of December, then start all over again. Some people do it the other way (starting with 1 and ending with 52), but because December is such a heavy spending month (Christmas and LO's birthday), I do the reverse. We used to automatically dump one of my paychecks in savings, but with kids, that doesn't happen anymore! </p> https://boards.hellobee.com/topic/automatic-transfer-to-savings#post-2472518 Wed, 24 Feb 2016 11:07:18 +0000 mfa_lady 2472518@https://boards.hellobee.com/ <p>I do it through payroll at my job--I basically put myself on a fixed income. I filled out the paperwork so that a set amount goes into my checking and the rest goes into savings. </p> <p>Sometimes, I have to transfer it back based on expenses...but at least then I'm stingier because I'd prefer to leave it in. </p> https://boards.hellobee.com/topic/automatic-transfer-to-savings#post-2472473 Wed, 24 Feb 2016 10:48:58 +0000 Mommy Finger 2472473@https://boards.hellobee.com/ <p>I do $250 a month on the 15th. Most of our bills get paid out on the 1st so my paycheck at the end of the month is used for that. </p> https://boards.hellobee.com/topic/automatic-transfer-to-savings#post-2472442 Wed, 24 Feb 2016 10:37:29 +0000 hellobeeboston 2472442@https://boards.hellobee.com/ <p>We just signed up for Qapital to help with savings, through that we're doing a "keep the change" type of savings to start, then we will be putting some extra aside from our paychecks. </p> https://boards.hellobee.com/topic/automatic-transfer-to-savings#post-2472435 Wed, 24 Feb 2016 10:35:08 +0000 mrs.shinerbock 2472435@https://boards.hellobee.com/ <p>@Bao: @BelugaBean: Bank of America has a similar thing called "Keep the Change". It rounds up your transactions to a full dollar and the extra goes into your savings account. So if I buy lunch for $8.67, it puts $0.33 in my savings account. </p> <p>I do a combination of several things - a set amount direct from my paycheck, monthly transfers to my IRA/investment accounts and LOs' savings accounts, and the keep the change feature with my bank. </p> https://boards.hellobee.com/topic/automatic-transfer-to-savings#post-2472398 Wed, 24 Feb 2016 10:18:44 +0000 snowjewelz 2472398@https://boards.hellobee.com/ <p>I transferred set amount each month; we stopped too b/c we're going from 2 to 1 income soon and currently reworking our budget. </p> https://boards.hellobee.com/topic/automatic-transfer-to-savings#post-2472383 Wed, 24 Feb 2016 10:09:22 +0000 JenGirl 2472383@https://boards.hellobee.com/ <p>We divide up every paycheck. We have an "essential" checking, a "fun" checking, "vacation savings, and "emergency/big puchase" savings. Makes it easy. </p> https://boards.hellobee.com/topic/automatic-transfer-to-savings#post-2472356 Wed, 24 Feb 2016 09:54:26 +0000 BelugaBean 2472356@https://boards.hellobee.com/ <p>@Bao: I don't know if other banks offer it (I assume at least something similar maybe) but we bank at Wells Fargo and set up a Way2Save account. Like I said, it just adds $1 to each transaction and transfers that extra dollar over. Especially during bill time, it adds up to a good amount! </p> https://boards.hellobee.com/topic/automatic-transfer-to-savings#post-2472342 Wed, 24 Feb 2016 09:50:45 +0000 blackbird 2472342@https://boards.hellobee.com/ <p>Set amount every month </p> https://boards.hellobee.com/topic/automatic-transfer-to-savings#post-2472339 Wed, 24 Feb 2016 09:49:25 +0000 Bao 2472339@https://boards.hellobee.com/ <p>@BelugaBean: oooh how do you do that?? </p> https://boards.hellobee.com/topic/automatic-transfer-to-savings#post-2472337 Wed, 24 Feb 2016 09:49:01 +0000 BelugaBean 2472337@https://boards.hellobee.com/ <p>We have it set up so that after each transaction, $1 gets added to our savings. Then I transfer more over as it becomes available. It's not a ton but it does add up! </p> https://boards.hellobee.com/topic/automatic-transfer-to-savings#post-2472320 Wed, 24 Feb 2016 09:42:20 +0000 looch 2472320@https://boards.hellobee.com/ <p>We don't, we just have our paychecks deposited into our savings account and we move money as needed to pay bills. </p> https://boards.hellobee.com/topic/automatic-transfer-to-savings#post-2472319 Wed, 24 Feb 2016 09:42:20 +0000 petitenoisette 2472319@https://boards.hellobee.com/ <p>I get paid weekly. </p> <p>I have a small amount ($15) that gets transferred via direct deposit each week into a savings account at a credit union that I've been doing for years -this is turning into our vacation and/or gift fund. </p> <p>Then we do a bigger weekly contribution to our high yield savings account. I keep trying to up the amount but then we have been spending too much money :( So doing a no-spending march challenge and that will hopefully but us in a good spot to increase it. If I don't put the money in savings we will spend it so it doesn't work for me to do a lump sum at the end of the month. </p> https://boards.hellobee.com/topic/automatic-transfer-to-savings#post-2472316 Wed, 24 Feb 2016 09:41:32 +0000 mrschickpea 2472316@https://boards.hellobee.com/ <p>Set amount every 2 weeks. I do two transfers, one larger to our savings and one smaller amount to DH's personal account which he uses for buying his personal items (video games, saving for larger tv in Man Cave ect) </p> https://boards.hellobee.com/topic/automatic-transfer-to-savings#post-2472312 Wed, 24 Feb 2016 09:40:56 +0000 Adira 2472312@https://boards.hellobee.com/ <p>I just have a percentage of my automatic deposits go into savings. Some months I have to transfer out of savings to pay the bills, but for the most part, it keeps me from overspending. </p>