Novo Reserves allow you to set aside funds within your Novo checking account to save up for future expenses, ensure you’re withholding for taxes, or simply remember to pay yourself! You can move money into and out of Reserves instantly, make payments directly from Reserves, and automatically place a percentage of your income into Reserves in order to match your budgeting plan.
Familiar with the Profit First Philosophy? Novo Reserves aligns with this system while cutting out the need for entirely separate accounts. Simpler movement, easier to monitor, and great to see your profit grow.
Please note that Novo Reserves are not separate accounts or subaccounts, and any funds placed in Reserves remain a part of your Novo checking account’s balance.