If you are like most people, saving money can be a bit challenging. Well how about splitting your direct deposit check amongst several bank accounts. The month of May is National Direct Deposit and Direct Payment Month. This is a great time to take advantage of the direct deposit option that many employers offer. Several research studies have been conducted that show that employees who have a consistent savings pattern tend to be better off. Direct deposit especially if split among two or more accounts, is a great way to get started. Other benefits of is that if you use direct deposit, you are less likely to waste your money. Every bit counts. Experts even recommend depositing just enough to cover the bills into your checking account. Then the rest can be deposited into a savings account.
I think direct deposit splitting is a great idea. It helps to develop a consistent savings pattern. Additionally, it also helps build discipline. Discipline is the foundation for financial health and security.
For more information, visit the NACHA website at http://www.nacha.org/.