Paycheck question

Discussion in 'UPS Discussions' started by Johnny815, Oct 9, 2012.

  1. Johnny815

    Johnny815 New Member

    I've had direct deposit since I started working at UPS. I now want to get weekly checks, stash them, and try to save some money since I tend to blow it.

    Anyways, does anyone know how to opt out of direct deposit? Thanks in advance.
     
  2. Johney

    Johney Raise your hand if you think Upstate is a D-Bag

    UPSERS.com?
     
  3. wgf46

    wgf46 Member

    Once you start DD, I'm not sure you can opt out. I started at UPS about 18 months ago, the HR person said I had to get DD either into my bank or onto a Debit Card.
     
  4. menotyou

    menotyou bella amicizia

    It's your money. Get ahold of Finance and tell them to stop it. They will email/house mail/fax you the appropriate forms to sign.
     
  5. barnyard

    barnyard KTM rider Staff Member

    Another option is to add another account to your DD. It cannot be done online, has to be done on paper. I have $200/wk sent to a savings account that is not tied to my checking. When I have a car payment, it is deducted from that account. Right now, no car payments, so it is just getting bigger. It has been a couple of years since I increased that weekly amount and figured after the 1st of Jan, I would bump it to $250/week.

    Because it is not tied to my checking account, I do not dip into it and it builds up very nicely.
     
  6. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    barnyard gave the right answer.
     
  7. Johney

    Johney Raise your hand if you think Upstate is a D-Bag

    I went to upsers and it has a "delete" account. I didn't delete mine but if you do, do you have to add a different account?
     
  8. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    I don't think so---I think if you delete the account you will start receiving a paper check.

    To the OP--listen to what barnyard said. He gave you excellent advice.
     
  9. Johney

    Johney Raise your hand if you think Upstate is a D-Bag

    Isn't that what the o/p wanted?
     
  10. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    The OP wants to start saving money---give this kid a paper check and it will burn :censored2: in his pocket. What he needs is to keep his DD, open a savings account, add it to his DD and designate an amount to go to savings each week.
     
  11. barnyard

    barnyard KTM rider Staff Member

    It is, but if the OP is having a hard time saving, the key is to stash some before it hits their checking account, preferably in an account not tied to checking.

    Mine is at a different bank. Actually a credit union.

    Most financial planners say that in order to save, you have to 'pay yourself 1st.' For me, the only way to do that is with a payroll deduction that automatically goes into savings. If you check your checking account balance online frequently and 'only spend what is there,' you will not spend the savings.

    Whatever. It has worked for me since I started at UPS.

    The other thing I do, I check my checking account balance on Thursday night. If it is over $1,000, I transfer anything over 1k to my home loan. Otherwise, my checking gets bigger until I have to buy that gun that was a good deal or something stupid like that.
     
  12. Johney

    Johney Raise your hand if you think Upstate is a D-Bag

    That sounds like the best plan.
     
  13. Funfact

    Funfact Well-Known Member

    You can only stash them for so long then they become worthless and you have to have get them to reissue another one. You going blow money whether or not you have DD or not. The problem isn't DD the problem starts with you. You need to change your habits and live within your means.

    Why don't you split the DD between 2 account a checking and saving account. Or two savings account at different banks / Credit unions.
     
  14. What'dyabringmetoday???

    What'dyabringmetoday??? Well-Known Member

    It is almost as if Suze Orman got a hold of your password.
     
  15. brownmonster

    brownmonster Man of Great Wisdom


    He's more of a Dave Ramsey guy.
     
  16. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    ...without the religious overtones...
     
  17. barnyard

    barnyard KTM rider Staff Member

    The beauty part of my credit union savings is that I have been able to pay cash for the last 3 dirtbikes I bought. Plus, we have a cushion, which has come in handy. Like when we found out we have to replace the sewer line that goes from our house to the line under the road. Until I started doing the 'automatic saving' thing, I would never have had $2500 to cover the bill.
     
  18. Brownslave688

    Brownslave688 You want a toe? I can get you a toe.

    I'll go a step farther and say that he should have money directly taken from his paycheck into a 401k or an auto withdrawal from checking to an Ira. It's very easy now days to transfer or spend that money in savings.
     
  19. Johney

    Johney Raise your hand if you think Upstate is a D-Bag

    That's a good idea also.
     
  20. Funfact

    Funfact Well-Known Member

    I not sure the OP is want to save money for retirement. The OP has control his spending by making better choice. Putting money into a IRA or 401K is going the OP more money when he makes and early withdrawal and gets hit with penalties... The OP will make a early withdrawal because trying to hide money with out fixing the underlying problem.