Personal Investment Chatter

Hi! Rookie here. Wanted to get thoughts on splitting my salary and send some amount to my wealthfront cash account instead of sending it to traditional bank account.I want to use this savings for(1/2)

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What I don’t see, I don’t spend...

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Depends on your mindset - for most people they save less when they don't do it automatically.

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Check out the book I Will Teach You to be Rich. He has a full chapter on the benefits of automated savings and how to do it. Also check out the site Doctor of Credit for reviews of the high interest savings accounts.

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Thank you!

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I just have money automatically transfer to Wealthfront the day after pay day.

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Can you not DD directly to wealthfront? I'm able to split my DD between up to 4 accounts so the savings portion can start earning interest on payday rather than a few days later.

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(2/2) to save for emergency funds, short term savings, use for investments, etc. Or should I just use traditional checkin accounts to split my salary direct deposit and then move my money?

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Good idea to automate.

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I do auto deposit to my savings account straight from payroll (employer pays directly to marcus account). I started with 5%, now it is at 10%. I also added a monthly $200 transfer to savings. All the little savings add up. Try raising 401k by 1%. You wont feel it. I also use mint to get a wholistic view of finances and get a an idea as to how much I have saved. So far.

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Automate automate automate

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