Friday 21 August 2020

The Eve of A Historic Payday (Sorta)

Okay, so tomorrow is payday and it is a big one for me, an important payday.

Thanks to the online banking, I can deposit my paycheque tomorrow without going to the bank . . . that is neither new, nor historic.

What is a big deal for me is the fact that my Mid-Term Account will be Fully-Funded again.

Now, looking back over the year so far, my Mid-Term Account has taken a beating, and been less than full more times than it has not.

In fact the last time that it was fully-funded was back on April 29th right before I decided to move some cash around from one investment type to another.

Even then it had only been fully-funded on the April 22nd payday. 

As of tomorrow I will have put back the money that I borrowed from my Mid-Term Account. That means that as of Sept 7th I will be able to resume funding my TFSA.

Having my Main Account above zero (as in more than $1k in there) as well as my Mid-Term Account fully-funded ($10k in there) is important to me.

For it means that I have ready cash available in case of emergencies as well I have a bit of savings I can draw on before having to sell any investments.

The investments are there for future growth as well as to fund my dreams (and I have a lot of dreams . . . expensive dreams).

So, I don’t want to draw down on my “Dream Fund” if I don’t have to, yet I have to be practical, which is why I have cash available to me in my Main and Mid-Term Accounts.

As in, my Personal Overdraft and Personal Line of Credit (the $1k and $10k respectively).

Again, I do not say these things or mention the dollar amounts to brag, as that is not my style, but simply to show that it is possible and to suggest that others (that means you) do the same . . . setup your own Personal Overdraft and Personal Line of Credit.

For me, as of tomorrow morning, when the deposit is made and the cash shuffled around, and after the bills are paid, I can relax a smidgen, for I will have my immediate cash cushions back.

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

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