My wife and I are of the general mustachian mindset, and have been working over the past year or two to lower expenses in the high-cost-of-living area that we live in. I've been really scrutinizing my Mint.com account the last few months, and something just doesn't add up to me.
On mint.com, my "Net income" (income - expenses) for the last few months has been 2-4k per month. Great right? Well, I feel like I don't
see this major increase. Where is it? I was wondering how people set up their general banking, and wanted to compare it to mine.
- Credit Union Checking - This is our main bill-paying account. All paychecks are direct deposited here.
- Credit Union Checking #2 - This account was created strictly as a transfer account for our mortgage. Equal weekly amount go into this account from our main checking account, and our mortgage is paid straight from here
- American Express Blue Cash - Rewards credit card, 1 account with 2 shared cards for my wife and I. With the generous rewards, we use this for as many expenses as possible.
- ING Savings - Emergency Fund
- Vanguard Account - IRA's and a taxable mutual fund account(which we count as part of our emergency fund)
Typical cashflow for us is: Income is deposited in Checking #1 weekly.
Weekly transfer from Checking #1 to Checking #2.
Monthly Transfer from Checking #1 to IRA.
Monthly Payment from Checking #2 for mortgage.
Monthly Payment from Checking #1 for Amex (most of our expenses)
Basically, the accounts steadily go up, and have 2 large end-of-month payments (mortgage and Amex). I'm just wondering that if Mint.com is calculating an excess of that much, how am I missing it?