You will want to keep a minimum balance that is greater than your single greatest payment. I like to keep more than $1000 in my checking account, since my credit card statements are usually less than $1000. I use multiple credit cards to get the most cash rewards ($300-500 annually with Chase). Using multiple cards allows spreading the bills across the month and minimizing the risk of over-withdrawal. I have my bank send me my checking account balance every week via email, so I don’t need to log in. Only do this if your email account is safe from hacking. They will also send another email if the balance is less than $1000 (my minimum balance). This means that unless I receive an email from my bank. My checking account will take care of itself.

Suggested actions:

• Spread large items (credit cards, rent, mortgage) across the month
• Set up credit cards to automatically withdrawal payment on due dates
• Setup an email alert to know when each credit card is about to be paid (3 days ahead)
• Setup an email alert to know when each credit card or bill payment has been paid.
• Setup utilities and rent/mortgage to automatically withdrawal payment (or send check) on due date
• Setup an email alert to know what your balance is every week.

When we love something, we are obsessed with it. Just as someone can be obsessed with spending, another can be obsessed with saving. Every week or so, I think of my bosses purchasing my lunch. There income is greater than mine, but they also more easily give it away–”What’s five dollars to me?” Yes, there is more to give, but isn’t it the thought that counts–or Biblically, the widow’s mite that counts. So how much am I caring about my mite? I care about my mite a lot, thank you very much. I have spent 10 hours researching computer monitors for the best buy, five hours researching digital cameras, hours searching for discount coupons, and hours finding the best bank CD rates. I check dealnews.com and gotapex.com before I buy. I use e-bates.com when I do buy.

I have come to decide that among the circles that surround me, the temptation is to sacrifice our time in order to save our money. With me though, it’s more than saving money, it’s beating the system. It’s a game. It’s applying for the credit cards that give you $100 and not using the cards. It’s cashing the checks that ask you to subscribe for a trial period, and then canceling before the trial period ends.

Who does money control the most? The man who spends all his time working or spending or the man who spends all his time searching for deals or saving. It’s both work, I just have a tendency to go easier on the person who is saving and not categorize him as a workaholic.