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This applies mostly to accounts you use to set aside for different expense areas creating an implicit metric you can look at the end of each month to determine how far off the mark things worked out
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Once you get everything on schedule, build some redundancy to it by having an “overdraft” amount on each account that is added to the necessary monthly balance and always replenish it so it is available in a pinch.
Really doesn’t work with my life. Extreme, sudden expenses, such as a 6k health insurance debt, hit me with as much surprise as a sudden project that pays 20k within 20 days. I just got to roll with it and hope it stays in the + somehow.
It only helps, there’s not a downside other than seeing the objective truth of where things ended that month. Its more of a north star type thing
If I meet the amount, i succeeded and I get to save any excess and actually keep it more or less
If I dont, it comes out of savings so i dont get behind which is absolutely killer when I get in that cycle
Definitely a good approach, maybe for people like ourselves even more so. But for it to work with my chaotic finances, I’d probably need a business account and pay myself a regular wage. If I’d do things in such an orderly fashion, I’d probably not be here in the first place, and we’d never have met :-)