Right on time! A new Money Method made its way into our Flow app. With this Money Method, it’s easier than ever to prepare ahead for your Health Insurance deductible, to avoid any financial surprises.
Since it’s the beginning of the new year, it’s ideal to set it up now - so you don’t have to worry about it any longer.
This is how it works
Step 1: Determine your deductible for the coming year.
Step 2: Determine how much money you want to save each month, until the Deductible Buffer is full.
Step 3: Create a Health Deductible Buffer jar in your banking app.
Step 4: Set up the Flow.
What does that look like?
An example: you set up a Flow. Your health deductible is €385, and you aim to save up a max of €100 a month. That looks like this: ‘When my salary comes in, fill my Health Deductible Buffer jar up to €385, with a max of €100 per transaction.’
So, what happens now?
Each time your salary comes in, €100 is sent to your Health Deductible Buffer jar. When the Health Deductible Buffer reaches the €385, this stops, as you reached your goal.
Whenever you spend money from that buffer, it automatically fills it up to €385 again, with a max of €100 each time.
This way you’re always prepared, and you never have to worry about it ever again.