Personal Finance Expert Quoted
Wenyao Hu, Ph.D., assistant professor of finance and accounting, was quoted in a article about budgeting. Hu notes that a relatively simple system of using multiple checking accounts to divide up your salary into different groups can be useful.
鈥淎 practical tip is to set up a separate account and arrange biweekly transfers aligned with your salary schedule, possibly through direct deposit,鈥 he said. 鈥淭his system ensures a portion of your income is automatically saved.鈥