Written with AI assistance from the source video. The video is the authority.
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The reason your bank account hits rock bottom isn't because your salary is too low. It's because of small, unattended automatic transfers lingering in your card approval history and communication bills. There's no need to stress over writing household ledgers. You just need to spot the fixed withdrawal amounts that disappear on their own every month and block them at once.
Download your bank account and credit card approval history for the past 3 months as an Excel file. If you download the income tax deduction usage history from the Shinhan Card or Kookmin Card apps, the approval dates and merchant names will be neatly organized.
Filter the downloaded data for small regular payments between 10,000 KRW and 50,000 KRW. OTT services, music streaming, and paid shopping mall memberships will pop up one after another. Canceling just these items in bulk can immediately reduce your fixed expenses by more than 50,000 KRW per month.
Open the KFTC Account Info app, and you can view all automatic payment details under your name at a glance without having to visit each card company or bank individually. Open the automatic transfer inquiry menu in the app, go through identity verification, and sort out old small regular payments in a matter of minutes.
The phenomenon where money disappears just days after arriving happens because fixed costs and living expenses go out of the same account. Since the account balance looks generous at the beginning of the month, you end up making unnecessary purchases without realizing it. You need to set up a system where funds are automatically divided on payday.
Adjust your fund allocation structure based on a monthly income of 3,000,000 KRW. Leave only 700,000 KRW for essential fixed costs in the salary account. Send 1,800,000 KRW to the savings account and move 500,000 KRW to the living expenses account.
All these remittance rules must be set to execute automatically in the morning on payday. By eliminating the time money lingers in the account, you physically experience the fact that you only have 500,000 KRW to spend for the entire month. Gather 300,000 KRW separately as an emergency fund in a parking account like KakaoBank Safe Box or KBank Plus Box. This is a method to simultaneously block the anxiety and the hassle of having to look into loans when your balance hits zero.
Prepare a check card connected to your living expenses account. Never make additional deposits beyond the 500,000 KRW that came in via the payday automatic transfer. Use only this card. At the end of the month, do not roll over the remaining change in the living expenses account to the next month; transfer it all to the parking account to make the balance zero.
Once you reduce fixed expenses, split your accounts, and secure surplus funds, the next step is to clear high-interest debt. Revolving interest rates range between 14.1% and 19.95%. This is much more expensive than regular bank credit loans.
When paying off debt, you should inject spare money starting from the item with the highest interest rate. Credit card revolving and installment balances do not have early repayment fees. You can execute pre-payments as soon as you get money. Open your card company app and check your debts in descending order of interest rate from the expected payment amount menu.
Take your credit card out of your bag, put it in a drawer, and use only check cards from now on. Check the revolving balance with the highest interest rate from the loan menu in the card company app and pay it off in full with the secured surplus funds. Raising the revolving agreement rate to 100% or canceling the service itself reduces the money going out as interest and increases your available cash.
