ARRR Mateys <ahem> sorry, still getting Talk Like a Pirate Day out of my system, Wesabe has been named to Esquire’s 100! A list of “emerging ideas, trends, discoveries, products, people, and obscene gestures you should know about before everyone else does.” This is great news for Wesabe and should signal a fresh wave of new users (pushing me further up the all time tipsters list because my tips are awesome). The article also, mentions a new addition scheduled for the next few months… a cash flow management tool to help plan for upcoming bills. This sounds like something that could really help you plan the amount of money you have in your savings account versus what you keep in checking, thereby maximizing your interest. This sounds like something that I could really get a lot of use out of, currently I get my paycheck deposited straight into my checking account (almost no interest) and usually have an automated deposit into my savings account @ 4% interest. Now if I deposited into my savings account and automate a move into checking based on regular expenditures I could earn some extra interest.
Say I make $2000 a month and that Wesabe tells me I’ll need all of that to cover my bills, I deposit into savings $1000 on the 15th and again on the 30th, bills are due on the 10th so I transfer $2000 to savings on the 5th. My monthly average in the savings account is about $830 and @ 4% I should earn over $30 a year that I wouldn’t have otherwise. I’ll see what I can do about posting a spreadsheet for more exact figures later.