Oh wow, it's been awhile.
So, catch up. I am currently under $21k for debt (yay) and I have $652 in my savings account.
I have been using my savings account not as it is meant to be used - Not using it as a savings account per se, but as a supplement to my current checking account. Every penny of my checking account is being used for debt. If I need extras, I'm using my savings account.
For example. I got paid on March 20. Every penny of that paycheck was spent for bills or put back into savings. I received $1,132.73. I paid my gas bill ($78.97), Car insurance ($64.88), Internet ($79.95), Kirby ($58.32) and cat food ($29.00). I also deducted the payments for the mortgage ($202.53 - the rest comes from my VA benefit check) and Hulu ($12.87). I put $250 in my grocery account and $25 in my savings account. That total was $800.52. The rest went into savings, bringing that total to $790.82.
Since the 20th, I've paid my Google Fi account for my cellphone ($77.68), purchased a Kindle book ($14.99), bought groceries ($77.91), take out ($25.98 and $8.35), and ordered new vacuum bags for the Kirby ($17.94). All of this came out of the savings account because I didn't account for it on the 20th.
I get paid again on the 3rd. I don't think any of that paycheck other than the $25.00 automatic debit will go into savings, because I have a lot of bills to pay. But that's okay. I still have $650.00 in case something comes up. I am not concerned about the lack of money because I have money. And I promised myself I would not get upset if my savings account had less than $1000 in it. It is my "extra" fund and it will be used as such. A cushion fund. Now, that doesn't mean I get to go hog wild and buy stuff. No, that money is in case of emergencies or if an important bill comes up.
This is how I keep my spending at bay. Yes, I have the money, but I have to consciously take the money out of my savings and put it in my checking, and I can only do that 6 times a month. So if I'm going to spend that money, I'd better be able to justify it to myself.
How has this coronavirus affected my accounts?
Truthfully, it hasn't. Yes, I'm spending less on gas, because I'm not going places on the weekend. But I still have to go to work (banks are considered essential business, even though I don't work at a branch location). Which is fine, because it means I still get a paycheck. I did buy some yarn this week because I'm going to start a stitch along with one of my favorite facebook groups.
The stimulus package - I'm expecting to receive $1700 - $1200 for myself and $500 for my son. Part of the money will go to savings to bring it back up to $1000. The rest will be used to pay down my debt. Those are round number estimates, though. Who knows how much I will actually receive?
Supposedly, I will also receive an extra $600 from my employer. If I actually receive that money, I will also put it towards my debt and bills.
I don't mean to be cynical. But, I have learned in my 41+ years on this earth that you do not count on receiving money until it is in your account. Too many times have I gotten over excited about a potential sale and planned on how to spend that money, and then the sale never happened, leaving me disappointed. Not worth it.
Now, I've been home sick since Wednesday. Tomorrow will be my first day back, so we'll see what has changed in the office and what updates my employer will give me. Don't worry, it wasn't COVID 19. Just a sore throat, but we have been told if we are in the least bit sick to stay home. So I followed orders.
I am not allowing my anxiety to get the best of me. I've been channeling my anxiety into projects around the house. I finished my small bathroom (yay, but expensive), I cleaned my house and while I was sick, I sat on my couch and rested. And made socks. Seriously - I finished a pair of socks for my son. I've made 2 pairs of socks and I'm about to start working on a blanket. Like I said - I refuse to let my anxiety overwhelm me. It does me no good and if I end up in the hospital, that's more debt that I will have to pay back.
So, almost April and my debt has gone up since I started this little journey. Am I concerned? No. I am motivated. I'm going to start selling stuff again and earning extra money to reduce my debt. I took a month off from selling because I was working on the bathroom, but thankfully the first stage of that is done.
Until next time, my friends.
So, catch up. I am currently under $21k for debt (yay) and I have $652 in my savings account.
I have been using my savings account not as it is meant to be used - Not using it as a savings account per se, but as a supplement to my current checking account. Every penny of my checking account is being used for debt. If I need extras, I'm using my savings account.
For example. I got paid on March 20. Every penny of that paycheck was spent for bills or put back into savings. I received $1,132.73. I paid my gas bill ($78.97), Car insurance ($64.88), Internet ($79.95), Kirby ($58.32) and cat food ($29.00). I also deducted the payments for the mortgage ($202.53 - the rest comes from my VA benefit check) and Hulu ($12.87). I put $250 in my grocery account and $25 in my savings account. That total was $800.52. The rest went into savings, bringing that total to $790.82.
Since the 20th, I've paid my Google Fi account for my cellphone ($77.68), purchased a Kindle book ($14.99), bought groceries ($77.91), take out ($25.98 and $8.35), and ordered new vacuum bags for the Kirby ($17.94). All of this came out of the savings account because I didn't account for it on the 20th.
I get paid again on the 3rd. I don't think any of that paycheck other than the $25.00 automatic debit will go into savings, because I have a lot of bills to pay. But that's okay. I still have $650.00 in case something comes up. I am not concerned about the lack of money because I have money. And I promised myself I would not get upset if my savings account had less than $1000 in it. It is my "extra" fund and it will be used as such. A cushion fund. Now, that doesn't mean I get to go hog wild and buy stuff. No, that money is in case of emergencies or if an important bill comes up.
This is how I keep my spending at bay. Yes, I have the money, but I have to consciously take the money out of my savings and put it in my checking, and I can only do that 6 times a month. So if I'm going to spend that money, I'd better be able to justify it to myself.
How has this coronavirus affected my accounts?
Truthfully, it hasn't. Yes, I'm spending less on gas, because I'm not going places on the weekend. But I still have to go to work (banks are considered essential business, even though I don't work at a branch location). Which is fine, because it means I still get a paycheck. I did buy some yarn this week because I'm going to start a stitch along with one of my favorite facebook groups.
The stimulus package - I'm expecting to receive $1700 - $1200 for myself and $500 for my son. Part of the money will go to savings to bring it back up to $1000. The rest will be used to pay down my debt. Those are round number estimates, though. Who knows how much I will actually receive?
Supposedly, I will also receive an extra $600 from my employer. If I actually receive that money, I will also put it towards my debt and bills.
I don't mean to be cynical. But, I have learned in my 41+ years on this earth that you do not count on receiving money until it is in your account. Too many times have I gotten over excited about a potential sale and planned on how to spend that money, and then the sale never happened, leaving me disappointed. Not worth it.
Now, I've been home sick since Wednesday. Tomorrow will be my first day back, so we'll see what has changed in the office and what updates my employer will give me. Don't worry, it wasn't COVID 19. Just a sore throat, but we have been told if we are in the least bit sick to stay home. So I followed orders.
I am not allowing my anxiety to get the best of me. I've been channeling my anxiety into projects around the house. I finished my small bathroom (yay, but expensive), I cleaned my house and while I was sick, I sat on my couch and rested. And made socks. Seriously - I finished a pair of socks for my son. I've made 2 pairs of socks and I'm about to start working on a blanket. Like I said - I refuse to let my anxiety overwhelm me. It does me no good and if I end up in the hospital, that's more debt that I will have to pay back.
So, almost April and my debt has gone up since I started this little journey. Am I concerned? No. I am motivated. I'm going to start selling stuff again and earning extra money to reduce my debt. I took a month off from selling because I was working on the bathroom, but thankfully the first stage of that is done.
Until next time, my friends.
Comments
Post a Comment