Wednesday, September 01, 2004

Goals for September

Let's try to see what I want to accomplish this month.

Today I sent a payment of $608.84 for my car payment. The amount due each month is $408.85. I have to send off another check for $370 in the next couple days for some charity I commited to. That will pretty much clear out the checking account.

I have $1300 in the brick & mortar savings and may have to use a little of that to get by until next week, though I hope not. I'm expecting a check in the mail for $100 in the next day, so that should help. I want to always have $1000 in this account, and each time I get to $1500...I'm putting $500 into the higher yield eMoneyMarket account at VirtualBank (2.15% APY) They have a promotion going that would give you and I $20 each if you open an account with them. ($100 min) If you're interested in making us both $20 and getting a great rate, email me at the above address and I'll get you a referral.

Next week's check (the 8th) of $592...I'll need to pay my cell phone, which is about $75. I want to hopefully I'll have enough to put into my saving to bring to $1500, triggering the move to the eMoneyMarket. I'll need about $150-$200 for gas and groceries.

The following week (the 15th) I'll want to stash $100 into the savings. Then try to leave the rest in the checking. Again, probably will need $150 to $200 for expenses. Hopefully that will leave at least $200 in the checking and $1100 in savings.

The next week (the 22nd) Another $100 to savings, bringing that to $1200. Another $150-$200 for expenses and the aproximate balance in the checking should be around $400. I'll need to make a payment on my credit card at this time. Hopefully $300. That brings me down to about $100.

The last week (the 29th) Other than the usual expenses, I plan to leave as much in the checking as possible, to couple with the next week and make as big a car payment as I can the first week of October. Hopefully $1008.85. That same week I'm expecting a $350 check in the mail. I plan to put that into savings and make another move to the eMM account.

So at the end of the month, I hope to have done the following:

Paid the Car $608.85
Paid the phone $75.00
Paid the Credit Card $300.00

Keep my savings balance of at least $1000.00
Have a balance in the eMM of $3525.00 plus interest.
Have a good amount towards a $1008.85 payment on the car for October 6.
My Credit Card balance should be around $1950.00
My Car loan balance should be around $11,700 after the October 6th payment.

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