I didn't even know about this bank, but based on the comments, seems to have had a major impact on people's lives.
I essentially do what Simple provides on my own, but realize that takes radical discipline. Not everyone has that, but sounds like Simple "hacked" people's habits towards saving. I consider that a "super power" so I'm sad to hear they're closing.
I direct deposit to two HYSA accounts in the same bank. One is my "current expenses" account and represents my projected expenses/budget for the month. The second is my "long term" account that represents savings for long term goals. At the end of each month, if there's money left in the current account, I move it over to the long term. The long term is then invested in brokerage accounts (because I've saved up for an emergency fund and house down payment, which remain liquid).
Oh and 401K money is taken out before I ever see it.
I essentially do what Simple provides on my own, but realize that takes radical discipline. Not everyone has that, but sounds like Simple "hacked" people's habits towards saving. I consider that a "super power" so I'm sad to hear they're closing.
I direct deposit to two HYSA accounts in the same bank. One is my "current expenses" account and represents my projected expenses/budget for the month. The second is my "long term" account that represents savings for long term goals. At the end of each month, if there's money left in the current account, I move it over to the long term. The long term is then invested in brokerage accounts (because I've saved up for an emergency fund and house down payment, which remain liquid).
Oh and 401K money is taken out before I ever see it.