Home > Map Making - Tracking the Flow

Map Making - Tracking the Flow

June 5th, 2008 at 04:00 pm

No, not me - I'm MUCH prettier!!! Big Grin

...and modest too!

I'm over here today making myself some maps! Financial maps of a sort.

With today's ability to link accounts at various financial organizations I thought it was about time I mapped out where all the tie-ins were on the old push/pull of EFTs (electronic fund transfers).

For me it's important to do this and keep it for my own information as well as Hubsters or anyone who survives me to find out where all my little stashes are! I'm notorious for stashing money! A bit here and a bit there. None of my eggs are in one pot it seems.

Besides, there are so many nice enticing bonus savings & CC offers out there for those who can roust up enough change to participate. However it can leave money scattered all around the globe. NICE! IF you can remember where it's all at! Not so nice if you lose track of it.

I need someway to get a visual on it! I try not to be a total rate 'ho and chase rates daily, but I do join in the merry-making from time to time. Can't you just see some accountant going ditzy and cracking his/her mental health over the state of some folks books on their money making efforts from running after all these cool rate offers???

So, how to do it? I just drew a circle with the primary account holder in the center of a piece of paper and drew lines out to various checking, savings and investment accounts. Those that have a push/pull get a double ended arrow connecting them. I'm planning on keeping them with my Emergency Control Journal. Those of you familiar w/Flylady will know what I'm talking about. Anyway, it is something that I will have to keep updating.

Mine is a bit more complicated than some as I'm on all my kids (5) accounts as well as joint owner. So there are accounts spread everywhere and yon w/my name connecting them. And some we do transfer to/from in our own personal family bank kind of system. Example: CashHappySon wants to buy something off ebay and he doesn't have an account. I'll go in on my ebay account and bid/win/buy for him and then we'll just go online to our bank and transfer the money from his account to mine. Or FrugalSon has autodrafted the car insurance for both of them off his account. CashHappy has an automated draft covering his portion transferred monthly to FrugalSon. Saves a lot of check writing!

Plus for the moment we still have two open accounts for FIL's estate.

Anyway, it can get confusing if you've a bunch of accounts. Time to make the maps. One for each person in the house as to their own accounts.

How about you? Is it time for you to make a map/s? Or, do you have a better method? I'd love to hear about it!

4 Responses to “Map Making - Tracking the Flow”

  1. sagegirl Says:

    I have often thought of making some sort of master list/flow chart for the Hubby so he will know where all the accounts are. He knows the main bank account is Chase, and he knows we have other accounts for retirement, college, etc but I bet he can't remember where. If something were to happen to me, I am not sure he would know what to do, administratively speaking. I am the paper-pusher of the family. it is my nature. Thanks for the idea!

  2. Ima saver Says:

    I have everything in a notebook. Hubby has never touched a computer.

  3. luxlivingfrugalis Says:

    sagegirl, me too - he knows where the files are and where the account numbers & passwords are located, but not how all we can push or pull money from one account to another. And in some cases we have two or three accounts hooked together to pass money in between. My maps are more about how the money FLOWS rather than just where the accounts are located.

  4. baselle Says:

    Mine's complicated too. Accounts move money into other accounts. But I'm trying to simplify a bit. Paycheck and tip box savings go into brick and mortar checking and savings account. I get enough and I move $ to ING. Get enough ING and I move to T-bills. The inheritance is all getting consolidated into Vanguard, except for the $ to be used for farmette projects and for me to purchase a house sometime. Dang! Its getting complicated again! Big Grin

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