We ended up with $674 after all was said and done (original estimation was $405, if you take a look at my last blog entry). The crib mattress ended up being $50 cheaper, and we had more in Checking than planned.
That went straight to Savings. And we can start contributing more-than-before to Savings starting next paycheck!
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Questions.
Some of you use the method of having one-month's worth of expenses in your Checking account at all times. I am starting this, and have already made one-half of the month's expense payments.
When do you refill your Checking to the original balance?
Here is what I plan on doing: Once I am paid, transfer it to Savings, less what I need to keep my running balance (not bank's balance shown) at the appropriate level ($1,761). Is this what everyone does? Every paycheck? Or just once per month?
Debt Payoffs! [Update]
February 18th, 2013 at 09:03 pm
February 18th, 2013 at 09:56 pm 1361224560
I don't know details about your particular bank and caution because banks are now charging for every little thing. I'm hoping you prefer using a Credit Union for your personal banking. If you have a Savings account that is linked to your checking account, does your bank charge for transfers? Do they charge a fee for paying bills on-line? How many free transactions do they allow? How much do they charge for ATM withdraws are questions whose answers you can likely find on-line at your bank's site. While I'm fussing about a few dollars each month, those small amounts add up and banks are getting greedy.
Hope you'll continue to post so we can all cheer for you!
February 18th, 2013 at 10:17 pm 1361225845
My CU is BECU.