Recent Divine Discussions

Tuesday, September 4, 2007

What I plan on doing with my leftovers

In my last post I asked everyone what they did with money left over at the end of the month when they came under budget. I received a lot of good responses and suggestions. Taking into account those suggestions, my current financial position, and the very near future I have decided to roll the remainder into my savings account and use it for important miscellaneous things that pop up.


Well I have a set budget that I need to follow every month. Aside from the $50 for miscellaneous stuff I have budgeted, I don't have extra money for things that may and will come up. For instance, my daughter's birthday is October 17. My plan is to take her to Disney for a full day of fun. Her godmother is sponsoring the event (getting us tickets). So all I need to worry about is food, parking, and any souvenirs Sweet Pea might want to take home. I don't think $50 will cut it. That is where the savings account would play its part. Another scenario is Christmas. I could use the bonus money I know I will get from work but that is going to be applied to my cc debt. So again, any money in that savings account could go to Christmas gifts.

My main goal is to get rid of my credit card debt. In order to do so I need to make sure I don't create anymore than I currently have. Those two scenarios are situations where I would be tempted to use my credit card and spend spend spend. Doing this I will be able to avoid that.

Of course this means that I will work hard to come under my budget each month. That way I can guarantee some extra money for my daughter's b-day trip and Christmas.


1 comment:

Sistah Ant said...

it was really a breakthrough once i realized that the bulk of my credit card debt wasn't because i was stupid, but because i didn't have a savings to draw from. since then, i've been making sure i have saved money to draw from instead of my credit, and that has been making all the difference. and once you can stop making the balances go up, you can finally start to make them go DOWN!