Okay, I know this is a backtrack, but it is okay, this move that I made, makes sense, at least to me. First of all, no, I didn’t go make a big purchase or spend any money.
What I did do was transfer $1000.00 from my Savings (Contingency) into my Main Account. This topped my personal Overdraft back up to what it is supposed to do.
As I have already said, December and January were expensive months for me, but I am now on track. This is a bit of a financial reset and I am treating it that way. Things are looking ever better from here on out.
My credit cards are maintained at a Zero Balance, and those minor incidental charges are paid off fully each payday. This is working for me and they are tamed . . . for now.
Since my Main Account is now back up to “Zero,” I was able to use this payday to not only pay my bills, put the expected $500.00 into savings, and the $50.00 into the RRSP, so that is back on track.
This way, with the way things are now I can focus on funding the Contingency fund. I will fund it up to $7000.00. This will give me my planned and expected, $6000.00 for the “OOOPS Fund” and the $1000.00 for my trip to the coast this summer.
This way, with money saved up and put aside AHEAD of time I can relax and enjoy the trip and not stress over every expense . . . what a concept.
I can now look to save whatever I can and see how much extra I can put into savings each payday. Once my Savings/Contingency is fully funded, then I can move on to the Long Term Savings, my TFSA.
They way that I am doing things now, it is in a more positive and less stressful manner. I am not stressing over if I will be able to scrape by and save up enough to hit my targets before summer (Putting the $1K back into the main account and the $1K in savings for my trip.
I may or may not have that $10K put aside by August, but overall I will still make my two year target to have enough to pay Wanda off. That is, unless life tosses me another cure ball (or curve cannon ball . . . who knows.)
At least I have turned saving into a game, and made it fun and hopefully a way of life.