Friday, April 24, 2009

Six Hundred Fifteen Dollars

That is how much I owe myself right now. I think I'll be brave and transfer the money to my savings account sometime today. It if for driving my car around as I figure I need to start saving money towards eventual repairs and/or replacement of my vehicle. I am trying to save 50 cents per mile, but that's rather severe given how much I am ending up having to drive for my job. Still, it must be done either now or later when something bad happens and I have to replace my car.

Still, ouch. No more fun purchases this month. I'm not broke or anything (far from it), but I'm going to delay certain purchases until after my next payday so I can maintain my 'zero balance' in my checking account. If I can I always keep a certain amount of money in my checking account in case of emergencies and so that if I make a minor error in the balancing of my checkbook it does not matter. Never an overdraft for me! It is one of those little strategies I recommend to anyone as a way to reduce stress. If you always have $200, $500, $1,000, or even $2,000 in your checking account it does not matter the exact timing of your paycheck deposit vs. expenses like rent on the first of the month.

But I used up my cushion when I was unemployed (of course) and I've been working on getting it back up to where it should be over the last two months. I will be $70 short, or so, once I pay all the start of the month bills for May, but that's pretty darn close and it happens with our biweekly pay that I'll have three pay dates in May. That should put me well over the top for June. Little things like that really make me happy.

1 comment:

Harriet said...

Sounds like a good plan. I hope to be doing something similar to your "zero balance" soon, once my car is paid off next month and I have room in the budget to save.