{"id":3189,"date":"2009-03-24T05:00:56","date_gmt":"2009-03-24T12:00:56","guid":{"rendered":"http:\/\/getrichslowly.org\/blog\/?p=3189"},"modified":"2023-09-28T11:46:33","modified_gmt":"2023-09-28T17:46:33","slug":"my-financial-infrastructure","status":"publish","type":"post","link":"https:\/\/www.getrichslowly.org\/my-financial-infrastructure\/","title":{"rendered":"My financial infrastructure"},"content":{"rendered":"

Mapping your financial infrastructure is a mundane task. It’s not exciting. It’s not likely to save you big bucks. Instead, it’s the sort of Big Picture exercise that each of us ought to perform from time-to-time just to be sure that everything’s working the way we think it is. If you do this every year or two, you just might catch some inefficiencies that need to be corrected. I did.<\/strong><\/p>\n

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A map of Jim’s financial network
\n<\/em>(Photo credit: Bargaineering.com)<\/span><\/p>\n<\/div>\n

I didn’t map my accounts with pictures. Instead, I described the connections with words, starting with the account that collects all of my income:<\/p>\n

<\/span>Business checking account<\/span><\/h2>\n

I have a business checking account at Wells Fargo, a large traditional brick-and-mortar bank. This was not a conscious decision, and is a legacy from the origins of my former computer consulting business.
\nCurrently, all of my income is routed through this account (because all of my income comes from the business). This checking account is used to pay all business expenses, including:<\/p>\n