1954: [Part 2] Pay Yourself Last: Why You Don’t Need A Budget by Steven Keys
Optimal Finance Daily - Financial Independence and Money Advice
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Sweep Away Excess Money From Your Checking Account
You'll want to decide on a target balance for your checking account and sweep away the excess. The specific place that you sweep your excess money away will depend on where you are in your financial journey. If you haven't accumulated an emergency fund of cash and a high yield savings account yet, you might want to sweep excess money there first. It's always good to keep some easily accessible cash on hand. Once you have a few months expenses in a savings account, the rest of your excess cash should be shovelled into high interest debt like credit cards or student loans - starting with the highest rate until it's all gone.
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