Thursday 2 August 2018

Deficit Budgeting For Savings

Okay, so Boss is heading out for a two week vacation, and so he leaves tomorrow, or rather he won’t be in tomorrow.

Since he is gone for two weeks he gave out our paycheques yesterday. Again, we still can’t cash them until Tuesday, but at least we know what we’re getting.

For me this means I can balance my budget, this time it doesn’t look good. Okay, maybe that’s a bit of an exaggeration; I’m $30.00 short of balancing my budget.

This means that I am in my Personal Overdraft for $30.00 this payday and considerably more next payday . . . but that’s okay. 

(Don’t worry, I give myself much better rates than the bank would when lending me money.)

I could balance my budget this payday but then I would not have any treats for my trip out to the mountains this weekend. 

(That counts for $20.00, the other $10.00 would most likely come from savings in the fuel budget).

As far as my next payday budget goes, well, it’s early. I still do the trick where I make the assumption that I only have the sales in hand to count on. 

So, my paycheque looks grim at the beginning of the payperiod and gets increasingly better as the days roll along. 

It is a simple trick to not only be prudent but also always get a little lift each day when any sales come in. 

(Sales = Commission for me.)

The thing to remember is that I am doing this so that I will make that Milestone Goal of fully funding my Mid-Term Account by the end of this month.

I plan to put at least that much (hopefully 1.5 as much) into my Long-Term Account before this year is out. (Assuming the fiscal world keeps spinning.)

So, I will dip into my Personal Overdraft for a short period of time in order to keep myself on track and keep moving my goals forward.

Yet, I won’t live in there, and most likely I will still balance my budget for the 22nd. 

As always; Keep your head up, your attitude positive and keep moving forward!

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