31 May 2006

Finance: Divide up big payments

My rent is due in really big chunks (approximately 3 a year). So I always panic when payment time comes because I have to make sure I have enough money in my bank account.

A solution around this situation is to schedule (say monthly) payments to your savings account. If you have to pay $12000 in rent annually, put $1000 in your account per month. Then you won't have to worry. Better yet, set it up the deposits to happen automatically. Thanks for the tip from Lifehacker.

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