Whoops! budget adjustment

February 5, 2009 at 7:39 am (monthly budget)

So I have this big involved plan to shift my debt payments to the day I deposit my first paycheck of the month (on the 5th). so that I don’t run short before my next income happens, and so I can put every possible penny towards it. The thing I forgot to think about is that my budget should now run from the 6th of the current month through the 5th of the following month, not ending on the last day of the month!!!

After all, how do you track your monthly expenses and such if you’re paying for things 4 days after the monthly budget closes? So d’oh! I’m going to start February’s budget tomorrow, 2/6, since that’ll be the day my first income is availble in my checking account.

And as a side note, due to my computer purchase and payoff in January, I didn’t really have enough extra to do a debt payment after all. I put $125 towards savings, paid a ginormous credit card bill to pay off the full balance incurred during the previous month, than adjusted some of my bill paying to cover February bills. That forward bill-paying adjustment means that I didn’t have anything extra to pay this month, but watch out for next month! Oh, and instead of putting $350 towards my mini-fund savings (pet, car, gifts, clothes, photo funds), I only had $250, so I’m $100 short. Oh well, but it’s only for January.

Have a good day all!

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1 Comment

  1. lulugal11 said,

    I think it is a bit complicated to do that 5 to the 6th thing so you might want to try to build up a buffer in your checking account where it does not matter what day you get paid on, you can just run with the calendar month.

    Keep up the debt work, I am in a similar position and trying to knock down debt to a big fat zero!!!!!!!

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