The Motley Fool Discussion Boards

Previous Page

Personal Finances / Credit Cards and Consumer Debt

URL:  http://boards.fool.com/the-critical-factor-is-you-have-to-leave-the-30415225.aspx

Subject:  Re: Notice change in membership terms AZ Federal Date:  12/5/2012  12:44 PM
Author:  2gifts Number:  306484 of 308542

The critical factor is - you have to leave the money in your checking account and NOT TOUCH IT.


I do this, and both my kids do this, and we all manage it by not including that minimum amount in the amount shown in the check register. I use this to avoid fees, and to avoid things like overdrafts because I do make math errors or sometimes forget to log something in, and so this allows for a bit of slush. Worst case, it is also a nice efund and is readily available.

With the discipline to know it is there and actually not touch it, this can be a very helpful strategy for a lot of reasons.
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us