With Y's previous job, he was paid weekly and I had it set up so $125 was transferred to our ING savings account on his payday. I cancelled that transfer when he quit getting a weekly paycheck. I hadn't set anything up and I realized that we are saving very little to nothing every month. I was able to put $550 from my paycheck into savings but that's the first time in a couple months that anything has been deposited into savings.
I set it up today so $100 would transfer from our checking to our ING savings on each payday. That will be an automatic $400 per month.
We are also on another type of automatic savings plan. We use Y's flex dependent option to the tune of 5 grand per year. Thus far for 2011, I haven't submitted the forms for flex dependent or flex medical reimbursement. If I wait until the end of the year, it would be $5000 in one pop. That does sound kind of tempting to do but I would miss out on the interest along the way. I also have $175 in medical expenses that I could request reimbursement for but haven't done so yet. There again, I could wait until the end of the year and just get the entire $1000.