Set up autopay on your HELOC to stop manually transferring money between accounts. The speaker walks through linking your accounts and automating payments so money moves without you having to do it.
You're going to set up a calendar and you literally going to mark the days that you have stuff bills that are due and you can set reminders in your phone, hey, my mortgage is due right? Because you have to manually withdraw money out of your HELOC to pay your mortgage unless you have a first position home equity line of credit. If Tara has a first position home equity line of credit, she does not need to manually move money out of the HELOC because her first lien HELOC comes with an account and routing number. So therefore all she needs to do is set up autopay to pay everything out of the heloc. If she does not have a first position home equity line of credit and has a second then we need to have a checking account attached to the heloc. If you make a mistake, what you could do is you call the bank and you set up overdraft protection on that checking account that's linked to the HELOC.
