I really like the fact that I can view my paycheck before it direct deposits to my account on Wednesday. It allows for early planning. So by Wednesday I already have everything planned and I don't have to think about anything. Usually all my transfers, if any, are done... automatic bill pay is set up to come out the next day. Then I'm taken care of until next pay period.
This week.
$49 to 401K Pretax Money
$46 towards Tax
$16 towards Employee Stock Purchase (set aside until next Stock Purchase time, I think it's either at the end of May or beginning of June)
$50 towards Savings #1 (automatic Direct Deposit)
$25 towards Savings #3 (automatic Direct Deposit)
$25 towards my newly created Brokerage Account (automatic Direct Deposit)
the rest to my checking for bills
So Updated Balances
401K previous balance $419
addition (w/match) $49
new balance $468
(note: my 401K balance is actually higher than this because it's an investment portfolio so it fluctuates daily, so I'm just using the balance of what I actually put into my 401K (w/match).
Savings #1 previous balance $10,888
addition $50
new balance $10,938
Savings #3 previous balance 879
addition $25
CC payment $49 (for last month's gas purchase)
new balance $855
well that was easy... all that's left is actually getting paid. I see no need for adjustments this week, no extra transfers or rearranging of funds.
As for my Credit Cards. I've come up with a way to hopefully deter me from pulling them out and using... aside from actually leaving them out of my wallet. I only carry one credit card on me at all times. I called the number on the back of my 4 cards with balances on them. Wrote the balance of each of them on a post-it note and stuck the post-it on each card. So now when I pull out my credit card I "See" the balance of the card in front of me. And hopefully when I see the balance, I will change my mind about buying whatever it is I'm buying... except for gas of course because well, I need fuel for my car to get to work. And when I make a purchase I'll just update the balance on the post-it. Almost like an informal check book register. That way I have no reason to be surprised when I get the bill in the mail or via estatments.
Anyway, Until next time. Probably May 15th since that's when the interest on Savings #1 posts.
***I live by the words "pay yourself first" even if I'm not earning that much.***
View Paycheck Early
May 6th, 2008 at 06:17 am
May 6th, 2008 at 06:43 am 1210052620
May 6th, 2008 at 02:30 pm 1210080633