Tuesday's Tip

Set up a separate account where you can accrue money in a timely, budgeted manner for those large premiums that hit you once, or twice a year. The advent of safe, electronically linked accounts makes it easier than ever to open a savings separate from your checking where you can arrange regularly scheduled withdrawals and deposits without a minimum balance, and often with a decent interest rate. ING Direct is a workhorse for our family, giving me the ability to set aside insurance premiums, yearly membership fees, subscription renewals, and so forth. Getting the funds out of my checking insures that I don't inadvertently spend what isn't really mine! And you can add up to two linked ATM accounts, perfect for a His and Hers miscellaneous. Now, Christopher and I know exactly how much money we can spend on our own frivolities, while also resting assured that the big premium due at the end of the month is safely tucked away, in full. An ounce of prevention is worth a pound of cure.