fbpx

Nicknaming accounts

Want our top tips for finding investment properties that PAY YOU?
  • The top eight strategies to consider when searching for positive cashflow investment properties
  • What a positive cashflow property looks like ‘on the books’. In other words, you’ll see an example cashflow analysis clearly demonstrating HOW a property can pay YOU every week
  • And much more.

Transcript

If your bank can’t do this, I strongly suggest you find one that can. Nicknaming and grouping accounts have possibly been one of the best tools and most helpful tools for me on my saving journey, and even now my current journey building a property portfolio. What I found is that when you nickname and group certain accounts, you’re starting to look at your banking and either see a goal attached to it, or see a meaning behind that account. Because when you don’t, guess what? You’re really just a number, because that’s what account numbers are. You’re really just a number. That’s what loan numbers.


So if you’re not with a bank that can do that, consider banks that can, because when you are nicknaming accounts to goals or nicknaming accounts to loans or accounts that have a meaning behind something, each time you spend, each time you look at it for your balance, you’ll start to think, “What’s the purpose of all this? Where am I going with it?” A simple money tip, but a big difference.