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2006 Cash Flow Planning

December 4th, 2005 at 04:10 pm

While DH slept in this morning, I got the urge to work on our budget while I was fresh and the house was still quiet.

I usually have our usual income and expenses entered a month or so ahead of time in Quicken, just to make sure we aren't going to run short. It was time to do at least January, but since I was in the mood I just kept going. April is going to be our next really tight month--only 2 paychecks each, no interest income, and property taxes due on May 1. So I plotted everything out through the beginning of May.

The main thing I saw was that I wouldn't be able to put as much against our cc debt as I'd hoped. At the end of April, when I transfer the remaining balance on the Discover card over to the Sony, it's still going to leave us with a balance of about $3000. That's still a big improvement, though, and I'll just have to be satisfied with it.

The way paychecks and bills fall, between now and May 1, our checking account balance will range from about $2.50 to $2027.00. So if I pay ahead too much on the cc's when the checking balance looks healthy, I'll end up having to charge things later on, or go into savings. (I've allocated $977 between now and May 1 to go into savings for emergencies.)

The other thing I decided was, starting in 2006 I'm going to stop using the Citi card for groceries and such, just to earn the rewards. It's been a hassle trying to keep track of how much in checking has to be reserved to pay the Citi bill off each month. And the bill often turns out to be higher than I'd planned. I've kept doing it because it was the only rewards option I had. But now I have the PNC account with Visa debit card rewards. I might as well use it. Starting this week, 2 weeks at a time of grocery/gas/pet food money is getting put into PNC, leaving the Commerce account for bill-paying. I feel like I've worked myself free from a trap. Smile

1 Responses to “2006 Cash Flow Planning”

  1. Anonymous Says:

    I use a credit card for miles too. I put a check in the mail the same day i use it. Money comes out of my budget right away, i accumulate no extra interst ad i still get the miles credit. So if you still want the miles, consider doing this.

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