Friday, March 7, 2008

So, today is payday....

This is my paycheck that I don't pay my mortgage out of, that will come out of the one two weeks from now. I know I have a big property tax bill coming, I will probably need almost $600 to send in so that there is enough there next month to pay my semi-annual taxes. And I have also deducted my auto-drafts that will fall between now and next payday, along with a transfer to my savings account. So, I am trying to decide what to do with the rest of the money. I think I am going to try leaving it in my checking account this time and see just how little of it I can spend over the next 2 weeks. If all goes well, I will be able to add whatever is left next payday into my savings and start fresh with the new paycheck.



How do you all handle payday? I usually pay myself first and last.

2 comments:

Canadian Saver said...

I have nothing automatically withdrawn from my checking account now, I control when I make all my transactions. Usually the first paycheck of the month is when I send money to savings and to my last debt. I also take a big chunk of money and set that aside for irregular expenses (car repairs and stuff) so depending on how much money comes in each paycheck, I sometimes split that amount.

I try to leave a bit of a cushion in the checkbook for emergencies too...

Escape Brooklyn said...

I tend not to leave anything in my checking account, but I have overdraft protection for months where I cut it too close. If I have "extra" money I transfer it immediately to savings and treat it as a fixed expense, since I know if I wait until the end of the month to see what's leftover there won't be anything left!