Personal finances autopilot system

Personal Bank Accounts in Autopilot - Part 2

By BLIP | Crypto Experiments | 24 Jun 2020

This is the second part of my autopilot system (see the 2 first steps here Personal Bank Accounts in Autopilot - Part 1). 

Step 3 - Paying bills


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I prefer paying all my bills with a credit card. Even if there is a small fee involved, I don't mind. For me, it's worth it to save the time it takes every month, the energy to remember to pay them on time, to note down all the different dates on which each bill is due and all the stress thinking about all that stuff. I always had this thought in the back of my head - don't forget to pay that bill! The fewer things I have to keep in my head, the better for my mental health. So set it up and forget is, everything will be paid on time at last.

Oh yes, don't forget to pay the most important bill every month: your credit card bill! Set it to pay the total amount from your main checking account.


Step 4 - Everyday expenses

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If you have set up a budget, you know approximately how much you spend in groceries, eating out, on shopping, entertainment, etc.

These are also expenses that I always try to pay with a card, if that is an option. It is very convenient to look at the bank report at the end of the month and see the total amount I spent for every category.

Revolut to the rescue! So for this purpose I use a Revolut Visa card where I transfer in the beginning of the month, the amount that I have calculated that we need for these expense categories. Both me and Mr. X have one Revolut card each and if necessary we can send money to each other with the Revolut app.


Step 5 - Long-term expenses

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I know these are coming, I just don't know when, so I decided to accept them and prepare. Grow up, damn it! Yes, the car will need a service someday, the screen of my phone will break, my kitchen will catch on fire (no, of course, it's not my fault that I forgot the pan on the heat), these things just happen sooner or later.

*I also include gifts in this long-term expenses category.

It makes sense to send this money to a separate account but you can keep it in your main account if that works for you. But note it in your budget, this money is pilling up in a category for a specific purpose so don't touch/forget it until you actually need it.


Step 6 - Fun Money

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This is a small amount I set aside every month so that we can spend it guilt free – no questions asked. I don't want to feel suffocated by the system since everything is calculated in advance. I don't like feeling that I have no breathing room. And if you are in a relationship, your partner doesn't even need to know what you spent your fun money on. This is your fun money, you can do whatever you want with it!

Even a small amount gives you a sense of freedom. This makes it easier for me to hold all the other parts of the system in place.


What's next?

It took me several years of improving and adjusting to get the system to it's current form. Now I really think that I finally have set everything on autopilot: saving, paying bills on time, setting spending limits without feeling too limited (fun money FTW!).

Yeap, this works just fine for now! I think my next step will be to replace the Revolut cards with some crypto backed cards.

Suggestions anyone? How do you manage your payments and savings? 

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Crypto enthusiast, personal finances, on the way to a better financial life. I also have a blog at

Crypto Experiments
Crypto Experiments

This is just a place to record my journey trying to experiment with crypto using simple strategies. Actually this is also meant to help me stick to a trading strategy after many, many (really so many...) failures. Sharing this experiment and the accountability this brings, are probably the biggest gains for me at this point.

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