Thank You, Next: Why You Should Break Up with Your Payroll Account
Everyone has done it: using your first payroll account as your “everything” account because you’ve had it for so long, and opening a new one takes too long. It’s easier to just stay in that comfortable "situationship" with your payroll account, but the only thing that will come out of it is giving up your hard-earned money’s growth. But when there are better options out there that give you better rates for close to no effort, your payroll account becomes the dead weight to financial independence. Breaking up with a long-term habit is hard, but moving forward doesn't have to be a dramatic, stressful event. Here are the steps and tips to smoothly transition your savings away from your payroll account this coming payday: Step 1: Have your new savings account ready Overlapping is frowned upon in real-world relationships, but in finances, having your next savings account lined up is smart planning. Don’t wait until payday to figure out where your savings should go. If you scr...
