Hey everybody, and welcome back to your Debt Podcast. Today is Thursday, January 5, 2006. I am Jay Fleischman. Thanks for listening and thanks for staying subscribed. Today we've got a short resolution helper for you that's going to help you tie up the loose ends that I have inadvertently, well, not inadvertently, I've done it on purpose, left on the first couple resolution helpers. Today's going to tie it all together, it's like a season finale, but not really, of resolution helpers. Today is going to the last resolution helper for the week. Tomorrow will be another show. No resolution helper, just some news and information and some great podsafe music that I've been working on, and some listener Q&A. So, let's jump right into the resolution helper.

Here is today's resolution helper.

Ok, so today's resolution helper will finally give you a chance to tie up the ends that we've been dealing with thus far. You've got our debts, you've got your monthly bills, so you know what you need to spend each month. You've got direct deposit, and you've got two separate bank accounts that have been all set up, and they've got nowhere to go. Now what do you do with them? Simple. You're going to split your direct deposit. The money you need to pay the bills with is going to go into one account, we're going to call that the bill account. And the rest of the money goes into an account we're going to call the fun account. Now how much goes into the bill account each paycheck? That depends on how often you get paid. Let's say you need $1500 a month to pay the debts and the other monthly bills, like the gas, the electric, the rent, the phone service, Internet access of course, cable, things like that. If you get paid monthly, well that's easy, you just transfer $1500 into the bill account, and you're done with it. Most people don't get paid once a month. If you get paid every other week, that means you get paid 26 times a year. That translates to getting paid 2.16 times per month. You don't get paid twice a month if you get paid every other week, because remember, if you get paid every other...
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