if you put due dates for all the bills you have to pay in one RTM list (for example, a list called "cash outflow") and, more important, the amount due, then you got yourself a nice and simple cash flow tool.

why is it important?

most of us live on paychecks and may be able to save a little after each paycheck. a high yield saving account could be handy for parking that extra little money. however, most of such accounts have restriction on how many times you can withdraw (if you don't believe, try to withdraw more than 6 times in a month from an ING Direct saving account ). so how to make sure you have enough money on hand to pay the bills, but at the same time not too much (so to loose the interest you can earn from a saving account) becomes something quite important. that's when RTM as a cash flow tool comes in.

after each paycheck, open your list to quickly figure out how much cash you need to keep on hand before next paycheck and then deposit all the extra money to a saving account. now you just earn yourself some extra interest.

due to the low interest environment we have right now, the extra you earn may not be significant at this time. but every economist believe that interest rate bounds to rise, so the extra you earn from this tactic could be significant in the future.