Do You Deposit Regularly?

Discussion in Bank Accounts started by gracer • Jul 6, 2016.

  1. gracer

    gracerActive Member

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    When I was still single and I still had a regular day job, my salary comes every 15 days. Whenever I receive my salary, I make it a point to deposit a certain amount in my bank account right away. What's left in hand will be budgeted for another 15 days. I can say that I have alloted bigger portions of my salary to my savings account.

    I'm just wondering if you guys also deposit regularly or not. How often do you deposit every month? Are you satisfied with your savings so far?
     
  2. Corzhens

    CorzhensWell-Known Member

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    I'm still regularly depositing to my bank account. As I have posted in another thread, I have 4 bank accounts with each for its purpose - house expenses, gas and utilities, etc. One of the bank accounts is my personal savings account where my extra money goes. No matter how small, I make it a point to increase the balance of that savings account for it is my only treasure in life aside from the properties that we own. Cash is very important in emergencies so that's my reason for having a personal savings account.
     
  3. davos

    davosActive Member

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    Yes. I have several bank accounts for each of my revenue sources. Only one of them is a checking account, I always deposit the whole quantity of my earnings instead of saving some for cash. As a strategy to save more money,
    since having cash in your wallet make me prone to spend more when hitting the street.

    Perhaps my earnings will increase during the next years and I would earn some money from interest rates.
     
  4. Lushlala

    LushlalaWell-Known Member

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    Sadly, I don't get to deposit money as often as I'd like to because I simply don't have the money. I mainly deposit just the one time when I get paid. Unless our business does exceptionally well, and we end up having a little more. However, business has been a little quiet lately so we've been back to once a month deposits :( We're just crossing our fingers that things start to pick up again as it gets warmer.
     
  5. rz3300

    rz3300Active Member

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    Oh yes. I am one of those weird people though, and I do not like to see my total. I do not even really desire to see the amount that I am putting in, but I have to when I need to write it on the slip. I am not sure why, I just do not want to stress out over money, and I know that I have enough to cover expenses and then some so I know I am okay. I really only look when I have to, but that is just me.
     
  6. xTinx

    xTinxWell-Known Member

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    I deposit regularly twice a month every time it's pay day. I simply transfer money from my payroll ATM account to my personal savings account. However, deposit as I might, expenses never seem stop. Though I get to save money, what I save seems not enough given the things I want to do and buy. I've learned a new technique, however. I try not to withdraw the bulk of my freelance earnings from PayPal so that when push comes to shove, I still have money to turn to.
     
  7. gracer

    gracerActive Member

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    I also do this at times. I keep some funds in my Paypal account for a period of time until such a time when I need to withdraw them. Sometimes PayPal could also serve the same purpose as bank accounts when it comes to storing money with the exception of the interests earned. :)
     
  8. atlmom5

    atlmom5Active Member

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    I deposit money regularly, even though, it can be tough to do at times. I always try to plan for a rainy day. This past year, I decided to put 20% of my earnings away into my Paypal account. This really helped me when I needed a little extra money before summer break started. This little experiment kept me out of my savings account and allowed me to handle household stuff. I really saw how it benefited me in the long run, so I've decided to keep this system.
     
  9. shcoo

    shcooMember

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    I also get paid twice a month. I try to put away 25% of my earnings - so half of one of the checks, as soon as I receive it. It can be difficult though. I also do freelance artwork and try to put all of my earnings from that into my PayPal or my savings account.
     
  10. gracer

    gracerActive Member

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    I figured that PayPal has really earned the trust of many online persons to the point of keeping money with them for a some period of time. I think using PayPal as a means to save money is indeed an effective way of saving money especially for people who work online. :)
     
  11. NickJonathan98

    NickJonathan98Member

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    I am a college student living in Greece and studying BSc in Business & Computing so it's obligatory for me to deposit regularly into bank account in order to pay tuition fees, rent, online services, utility and more.

    I usually deposit a medium-range sum every month to cover all those expenses.
    About 10%-20% of that amount goes into savings.
     
  12. remnant

    remnantActive Member

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    Frankly speaking, I only use my bank account when my salary is being processed. I rarely use the accounts during other times. Some time ago, I had a bank account which I linked to Paypal and was using it for online transactions before I ran into headwinds due to an unsolicited overdraft.
     
  13. hades_leae

    hades_leaeActive Member

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    Well when you can't afford to save, you just can't save. I deposit weekly, and I loved getting paid from my jobs in my past weekly. Working threw employments agencies is why they did so, it was rare when I found a company with full time employees being paid weekly.

    I feel that it should be like that because you worked for one week, so you should be able to get your check the following week.
     
  14. Vinaya

    VinayaActive Member

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    I don't deposit regularly, however, when ever I have a big amount I deposit at least 25 percent of the money I have For example, when I get paid by many clients at once, I will have big amount, and I deposit some portion of the amount However, every time I receive payment from my job, the money is too little to be deposited, it will end up paying my bills
     
  15. Jamille

    JamilleActive Member

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    I've acquired the habit of saving money out of my salary a long time ago that it's no longer something I'll think much about when I do receive my salary twice a month. There are other habits I learned from a former co-worker which had also stuck to this day. I met her on my very first job and she taught me some 'tricks' she used to make her money last longer than the next pay day. While most employees would rush to withdraw their salary on payday, she wouldn't. She would let her money sleep for a night on her bank account before withdrawing some amount the following day after office hours. I think it's a psychological thing on her part but it has worked for her. She had another habit, which may not be easy for many people, and that's tithing. She would give 10% of her income to the church and she trusts that it will return to her a hundred fold. That has worked for her, too.
     
  16. tonyb

    tonybActive Member

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    Not really, I wish I am able to deposit regularly. My pay comes once in a month and sometimes before it comes I have planned how to use it such that some months I end up not depositing. I hope that this New Year I will be able to earn more money and more frequently so I can develop the culture of depositing regularly.
     
  17. ptahm22

    ptahm22Active Member

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    I receive my salary every three days or sometimes at the end of the week. I'm always busy and I can't go to the bank so I send my mum to deposit the cash for every morning after I am payed the previous day. I'm single so I don't have too much expenses and 75% of my salary goes to my savings account.
     
  18. luckycharm

    luckycharmActive Member

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    Saving money is the most difficult thing for me and I always end up spending more than my monthly budget. But now I started a recurring deposit with a national bank here so I am forced to deposit some money in that account every month. It is already six months old and quite happy to see my money growing. It was something difficult for me at first but I learned how to adjust my budget accordingly.

    I am planning to open one more recurring account so that I can save more. I know I can still do this by cutting down the unnecessary expenses.
     
  19. Nakitakona

    NakitakonaActive Member

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    I had tried that situation when I was working at the bank for 5 years. I found it a bit compelling. I save for the rainy days for I had experienced that one of my family members got sick and I found it so hard to look for the money for his medicine and hospitalization. So it is necessary for me to deposit some of my monthly salary to the bank.

    Matters become cooperating and savings or depositing money to the bank has been neglected. I didn't mind making any deposit anymore for the salary I have received every pay is directly deposited to our bank account. So I have to withdraw it during pay day. I may call this "silent" deposit for it is up for me to get my salary in full or leave a penny for the deposit.
     
  20. tonyb

    tonybActive Member

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    Depositing money regularly in the bank somehow is like developing the culture of savings which is commendable. But on the other hand investing such money in business may be a wise move as money deposit will only yield interest and that is not comparable to profit that will be made if put in business. I think a balance between the two is okay