Two week win
tl;dr Using the rules, I started to switch banks so my dollars can work between jobs... without worry.
I started with YNAB about two, almost three weeks ago. Gave every dollar a job, trying to age my money by not doing the mad dash to pay all my bills on payday. My debt card's chip has been acting up, and I've needed to call and get a new one. Before rule 2, I had dread about remembering to find each payout and changing my card info.
It hit me I could consider changing banks. Why not use a bank that will let me put my dollars to work? If a goal is to age my money why not let it collect interest? Started shopping around, and settled on Ally bank. Having a picture of where my money needed to go and when, as well as money aging, meant a lot of stress of how much to move, what needs to be updated, and when... was gone.
Like i said, its not a huge win, but one based on feeling empowered.
Feeling empowered IS a HUGE win. It dramatically changing what you think is possible. Changing banks has always been available to you (it's available to all of us, really, whether we choose to do so or not). But it was having the system of YNAB that allowed you to think of it as possible for you. That's a big deal. And it makes me wonder... just what else is possible?
Nice one! I've been considering changing to Ally checking for a couple months now, but haven't pulled the trigger yet since I have a lot of direct deposits linked to my current checking account. It's charging me $25 a month as a "low balance" fee, though, so I know the sooner I switch the better...!
Fortunately in the UK we have a system called CASS (Current Account Switching Service). You basically instruct your new bank to transfer your old account. They handle transferring across all your direct debits and standing orders, and it's all done within 7 working days.
In addition, any charges made to your old bank, or any deposits made into your old bank account will automatically be forwarded on to your new account. Your old bank is required to do this for a minimum of 36 months, and can only stop once there's been a period of 13 months without needing to forward any payments to your new account.
So it's been made an almost seamless experience here in the UK.