Today I’m answering a great question about how to manage your automatic bank transfers within your Perfect Account Structure. And that question is: should you work with your employer so your salary is distributed directly to your account structure or should you set up automatic bank transfers yourself from your Income account?
While setting up multiple account transfers with your employer might seem convenient, flexibility is key. You should preserve your ability to make changes if you should need to. As you get further along on your journey to Financial Freedom, seeing the incremental improvements to your financial situation is important to keep you motivated and inspired.
The one exception should be your Pay Yourself First account. Since that payment is made every month with no exceptions, ask your employer to send your money directly to that account.
That being said, if you find you’re constantly changing your plan and are unable to stay on track, using your employer to help you stay disciplined might be a good idea.
As you work towards Financial Freedom, keep control of yourself, set your salary to go to your Income account and set up your additional transfers from there.
You’re in control; it’s your freedom!
Dr. Tony is the co-founder of MindShift.money and the best-selling author of three books on personal and business finances. Having achieved Financial Freedom at 27, Dr. Tony believes that through Financially Fit Bootcamp and Cash Flow Cure everyone can get there. He has made it his life’s mission to help others live a life where their money works for them—not the other way around.