What are good questions to ask about dividing paychecks between checking and savings?
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The questions you ask would depend on your perspective. If you are the employee, sending part of your pay straight to a savings account makes sense. Ask yourself whether you will need the money from the savings account before the next payday? If so, your plan to build up a savings account may not be realistic. If you will move money from the savings account every pay period, perhaps you need to reduce the amount sent to savings or eliminate the savings deposit for the time being. What is the purpose of your sending funds to a savings account? Is it for retirement? If so, are there alternatives such as a 401(k) or IRA plan to which you can deposit it?
If you are the employer, does your payroll system accommodate multiple direct deposit accounts? Can your employees designate a percentage of net pay to go to savings, a dollar amount, or either? Do you offer a 401(k) plan?
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The questions you ask would depend on your perspective. If you are the employee, sending part of your pay straight to a savings 