General Goals 1) to be debt free in 3.5 years 2) save lots of money

Saturday, January 29, 2011

ING and Fund Name Change

I sent up an ING account yesterday. One of the options they had was for them to do direct deposits from your 'normal' account to there's every week, bi-weekly or monthly. I decided to set up bi-weekly starting March 10th for $25.00. This isn't a lot of money I thought since I have never ever had a direct deposit system a mall number was the way to go. Also it means that I can budget the transfers being done for me since it should come out every pay day.

 You will notice on the right hand side I have changed my general savings funds (10% fund) name to Retirement fund. This is because this is what it should be. From now on it will be known as the Retirement Fund.

The ING fund is going to be the final home of my Retirement Fund. This however has left me with a bit of a problem. You see currently my Retirement Fund money is in my Scotia account and my new direct deposit will be coming from my paycheque account which is with a different bank. This means that I now have to transfer money form one bank account to another bank account. Then I have to write ING a cheque for it all from my paycheque account.

I hope to have all this done by the end of the week so I no longer have to look at my savings account in my regular banking. Thus allowing it to slowly grow with any interference on my part. 

1 comment:

  1. I phoned ING the other day to speak to them about an account I opened with them many years ago. I wanted to see if I could still use it, but I waited so long on the end of the phone that eventually I gave up trying.
    Great idea to put your retirement funds away, out of sight but not out of mind !!!!!