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10-12 Fewer Checks to Write

February 9th, 2008 at 07:07 pm

I do most banking online, but for some reason, I have continued making our Roth contributions to Vanguard by mailing in checks with the little deposit slip things that you tear off the bottom of the statement.

It finally occurred to me that I could probably do it online. So I just logged in to my Vanguard account and, sure enough, I was able to make a purchase toward my 2008 Roth by a simple electronic transfer from my bank.

I usually add to our Roths every 2 weeks after depositing my paycheck. Last year, it took 8 deposits to fully fund both accounts. Since the max is higher this year, I figure it will take 10-12 deposits so I will have that many fewer checks to write and mail. Very simple and safer too.

Posted in Personal Finance | 7 Comments »

7 Responses to “10-12 Fewer Checks to Write”

  1. monkeymama Says:
    February 9th, 2008 at 09:09 pm 1202591352
    1202591352

    You can set up automatic contributions too. I mean, you can change them at any time. Vanguard has a really nice setup. I just set it up to contribute automatically, but I do change it often. You can set up an automatic contribution, and just cancel it when you max out. For me it's just nice, one less thing to think about.

  2. disneysteve Says:
    February 9th, 2008 at 09:46 pm 1202593599
    1202593599

    That's good to know, though I prefer to do it manually because the amount I send in varies from month to month based on other factors.

  3. thriftorama Says:
    February 10th, 2008 at 03:14 am 1202613279
    1202613279

    I had to jump through hoops to set up electronic transfers to my Schwab accounts. I had to sign and mail in forms giving them permission. I understand being paranoid, but geesh! Sounds like Vanguard was a bit easier.

  4. Amber Says:
    February 10th, 2008 at 05:02 am 1202619772
    1202619772

    I do all my banking online and love it. The only check I write are to BoA for the car because if I pay online they always seem to add it to the interest only (who would pay only the interest on a car loan anyway?) and theother to church. I think it is a little tacky to pay tithes online in which my church deos not offer anyway

  5. disneysteve Says:
    February 10th, 2008 at 01:55 pm 1202651705
    1202651705

    thriftorama - No trouble at all. Just enter the banking info, ABA#, account # and you're all set. Very simple.

  6. scfr Says:
    February 10th, 2008 at 02:28 pm 1202653688
    1202653688

    Smart move. Yes - Vanguard is VERY user-friendly!

  7. Aleta Says:
    February 11th, 2008 at 06:59 pm 1202756365
    1202756365

    I have a Vanguard Prime Money Market Fund and I just transfer the money into the retirement funds when I want. That is also a good way of getting it in there.

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