RetireJapan

You can now automate your budgeting and investing on SBI net bank.
They just started automatic money transfer within your accounts and increased the limit of "virtual accounts" you can create. You can now:

Create up to 10 (I think, I only have 5) "virtual saving accounts" on which you can deposit and withdraw money to yourself. Perfect for budgeting big expenses.
For example I have an account for taxes on which I transfer money every month to be ready for end of year payment. Another that I use as an emergency fund. Another one for vacations etc.

Create automatic regular transfers to these accounts as well as to your investment account (called "hybrid account") which makes automatic monthly investments on SBI platform (NISA, investment accounts...) a breeze.

I now have all my monthly expenses and savings automated. I had been waiting for that for many years!

Sounds great. I am still doing all this manually each month. I should probably look into what is out there!

Fuck that this seems to have external transfers as well!

Finally.... and with their annoying rank system, you can have more free transfers per month so this is going to become my main bank if everything goes right.

@petronius how exactly did you auto-invest? Is that their robo advisor that charges 1%? I'd rather auto-invest to SBI証券 if that is possible.

I have set up "tsumitate" payments of the products I want to buy on SBI証券
So every month I make an automatic transfer from my SBI account to the "hybrid account" and SBI証券 automatically draws from the "hybrid account" to buy my selected investments.

Petronius wrote: ↑Tue Dec 14, 2021 2:10 am I have set up "tsumitate" payments of the products I want to buy on SBI証券
So every month I make an automatic transfer from my SBI account to the "hybrid account" and SBI証券 automatically draws from the "hybrid account" to buy my selected investments.

Thanks. Good to know it's a pull not a push so I can look in the right place.

This is revolutionary for my current banking that would charge around 120 JPY plus per transaction for automated transfers (so I never did it), or even regular transfers. I'm pretty excited to set this up, and I have never been this excited about a banking feature. This will be a live test of my saving % number by "taking it off the top" and spending the rest (potentially), where the rubber meets the road!

This sounds great. Been waiting for this kind of feature to be available in Japan. Better than having multiple bank accounts for different purposes.

I used to do the multiple account thing for budgeting, but now I use software to handle the categorisation of funds, and physically put the money wherever it works out best (higher interest, activating point schemes, etc.).

This means that where the money is physically located, and what it's allocated for, are completely separate concepts.

adamu wrote: ↑Wed Dec 15, 2021 6:35 am I used to do the multiple account thing for budgeting, but now I use software to handle the categorisation of funds, and physically put the money wherever it works out best (higher interest, activating point schemes, etc.).

This means that where the money is physically located, and what it's allocated for, are completely separate concepts.

That sounds practical. Any software recommendations?

pfdsa wrote: ↑Thu Dec 16, 2021 12:15 am

adamu wrote: ↑Wed Dec 15, 2021 6:35 am I used to do the multiple account thing for budgeting, but now I use software to handle the categorisation of funds, and physically put the money wherever it works out best (higher interest, activating point schemes, etc.).

This means that where the money is physically located, and what it's allocated for, are completely separate concepts.

That sounds practical. Any software recommendations?

I would suggest Moneytree for cards and bank accounts. Google sheets for investments.

Monthly accounting takes 5 minutes. (1) Update share amounts (2) Plugin net worth from Moneytree.

That gives us a top-down view of all accounts.

.......

My wife and I have all accounts entered on a shared Moneytree account. Solving the no joint bank accounts issues.

pfdsa wrote: ↑Thu Dec 16, 2021 12:15 am

adamu wrote: ↑Wed Dec 15, 2021 6:35 am I used to do the multiple account thing for budgeting, but now I use software to handle the categorisation of funds, and physically put the money wherever it works out best (higher interest, activating point schemes, etc.).

This means that where the money is physically located, and what it's allocated for, are completely separate concepts.

That sounds practical. Any software recommendations?

I use YNAB 4 but it's not available via legitimate means anymore. I still regret that they switched their business model from standalone apps to a subscription webapp every time this question comes up. I'm not sure what I'd do if starting now - probably look into making a spreadsheet, which is ironic because that's how YNAB started.