Planned Savings - Reminder

Salary increases will begin showing up in checks at the end of this month.  UT has an easy way to adjust the direct deposit of your pay and travel reimbursements. Just complete the e-form at this link and send it to the payroll office.

You will note on the form that you can have your entire pay deposited in up to two different accounts (one a fixed amount and one the balance of your check). So, every time salary increases roll around (yay for two years in a row!) I realize I have somehow managed on my current pay, so I put at least a portion of the increase into "forced" savings through payroll direct deposit.

The other nice feature about direct deposit is you can have an entirely separate account for travel reimbursement, if you are tracking those expenses separately.

Personal finances can be simple or complex depending on how you approach them, but at least we have one tool available to help in our planning.