Not exact matches
I have about three months
of living
expenses in a
checking account and every bill is paid
out of that
account.
I have about three months
of living
expenses in a
checking account and every bill is paid
out of that
account.
I track everything coming in and going
out from my
checking account, and use a pivot table to create a chart where I can drill - down into each category
of expenses.
Typically, an unexpected financial emergency popped up — their car broke down, medical emergencies, unexpected travel needs, an overdrawn
checking account, maxed
out credit cars, lack
of cash to pay everyday
expenses — the list goes on.
I didn't have any unexpected
expenses to take a bite
out of my wallet, so I was able to stash some cash into savings and have my
checking account be where I want at the end
of the month (tip: always keep a sufficiently large buffer in your
checking account to be able to handle surprise expenditures).
Now that you've gotten your regular
expenses sorted
out with your bank, it's time to take some
of your discretionary cash (if you have any,
of course) and put it to work doing something better than standing by in your
checking account for your next impulse buy.
Although Scott recommended getting your bonus
out of your
checking account and into savings, you don't want to leave the cash sitting in a low - interest
account if you already have three to six months
of expenses saved up.
You can have a row on the left for card
expenses, a row for types
of expenses in the middle and a row for
expenses you pay
out of your
checking account on the right.
Additionally, you should not do this for the regular
checking account out of which the household
expenses are paid unless there is a substantial balance in the
account over and above the amount needed for paying the current month's bills.
So they are correct - all
expenses are paid directly
out of the LLC
checking account.