Jun 16 2008
More savings by direct deposit
If you deposit dividends or paycheck manually in your bank account, change the practice today. Ask your employer to do the direct deposit, if they do not have this option, ask them to introduce the system because this module of payment will cost you savings. This is not a sheer rumor; this is a bare fact as claimed by NACHA - the Electronic Payment Association. It has been surveyed that the customer saves $90 per month in direct deposit than manual deposit.
It is wise to split the direct mode of deposits into two accounts in such manner that you can maneuver with one account; the savings in the second account will be deposited to a high-yield investment return providing account.