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Smart Banking

jcollado says:

I used to get caught into banking tricks in the past just because I forgot to move my money where it's more convenient at a given time. Some examples follow:

- Deposits for new clients or new money transferred from other banks are usually offered at a good interest rate. However, when they expire after a few months, they might be automatically renewed at a lower interest rate. With RTM, I get a reminder when deposit has expired, so that I can transfer my money to another account and take advantage of a better interest rate.

- Similarly, the kind of account that is used to get your salary, isn't the one
that gets the higher interest rate. I use RTM to know when to check if my
paycheck has been received and, in such a case, transfer some amount of money to get a better interest rate for it.

- Credit cards are charged usually the same date, but if you don't take care of making sure that there's enough money in the associated account, you might get charged at really high interest rate for the debt in your account. To avoid that, just let RTM tell you when to review each account to make sure there's enough money or make a transfer to avoid any extra charges.

- Receipt that are charged yearly, specially car/house insurance are forgotten pretty easily and the charge might be bigger than the available amount in your account. To prevent any invoice from being rejected and the problems that that might entail, I use RTM tasks so that I'm always aware of what is going to be charged and when.

Posted at 1:46am on August 28, 2012

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