But you could do the same thing yourself by setting up a savings account and having $100 (or whatever) go to that savings account instead of your checking account. (I guess everywhere lets you do this anyway - everywhere I have ever worked lets you have direct deposit be split between two accounts.) That way, you get a couple of bucks worth of interest and, more importantly, you could access that money in the event of an emergency rather than having to wait until the end of the year.

Obviously, this used to be a lot more meaningful before interest rates crashed. I used to get about $30/month in interest on my Capital One account before the economy went in the tank ... I want to say they were above 3% interest. You don't get anything close to that now, but at least you still get to control your money.

Quote Originally Posted by Diehard Hokie View Post
There was an article in Kiplinger last year or the year before talking about how this is mathematically true, but doesn't typically work out like you think it would. What they determined is people spent the extra they got in their paycheck throughout the year. Those that got a tidy sum at the end of the year were more likely to save with the one time big check vs. getting a little bit extra in every pay check. The interest you could get on the extra bit through each paycheck is so minimal nowadays anyway. I like getting the big sum at the end of the year.