Comments on: The Savings Sweep – Today’s Quick Tip

By: Affacturage

Affacturage — Sat, 11 Jul 2009 09:40:03 +0000

‘Meltdown’ presents a serious analysis of the boom-and-bust economic cycle and ties it with the actions of government and in particular the Federal Reserve. It is a great introductory to a different view than the mainstream thinking. It poses serious questions which I only hear from a few colleagues but not the mainstream media. It presents a framework for the ultimate cleaning up of the drowning economic mess.

By: Brad

Brad — Thu, 09 Jul 2009 03:23:01 +0000

I really like this idea! There have been times when we almost did this but since we didn’t “sweep” it into our savings account we ended up spending it on something else.

By: Chris @ BuildMyBudget

Chris @ BuildMyBudget — Wed, 08 Jul 2009 23:53:56 +0000

This is an excellent concept, however if you get really good with your budget you can transfer these funds when you get paid and take advantage of the interest that would be generated in whatever savings vehicle you transfer the funds to. By doing so, you are also truly Paying Yourself First! Either way, do the savings sweep so you don’t spend the extra money on junk!

By: oneadvice

oneadvice — Mon, 06 Jul 2009 15:28:50 +0000

I love the savings sweep
I think i might aim for this at the end of July (although it might be more of a payment sweep… but still a good idea!) – never done it before but your posts are so inspiring.
Keep up the good work.

By: Doctor S

Doctor S — Wed, 01 Jul 2009 20:00:18 +0000

I really like this tip and I do use it at the beginning of every pay cycle, once my paycheck has cleared into my account. I subtract all my fixed costs, leave $10 in there for Powerball and move the rest to my ING. I call this my “Get that money the F outta there and into my ING” method. Gotta keep it interesting right? I am sure @SingleGuyMoney will have a good name for it soon.

I am digging the quick tips!

By: Single Guy Money

Single Guy Money — Tue, 30 Jun 2009 11:13:29 +0000

“Savings Sweep”. I like that. I do the same thing at the end of the month, I just didn’t have a name for it. Now I do..:)