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March Zero Out

April 1st, 2010 at 06:07 pm

So I "zeroed out" my checking account for March yesterday. I always keep $4000 in there, but I like to move any excess to savings at the end of the month. I opened our "Frivolous Spending" account and put 25% of the zero out in there and 75% in my home downpayment. So that means $568 to frivolous spending and $1706 into the home downpayment! My little ticker says we are 43% of the way to the downpayment and that doesn't include the interest on our CD!

We talked again about starting a Baby Savings Fund. I'm thinking that might just involve adding $10,000 to the Emergency Savings instead of opening a new account. I'm torn if we should start one right after we finish the downpayment fund or wait until the car fund is ready also. We decided to reassess after we hear back about DH's financial aid. Right now we are contributing to savings for a car, auto insurance, DH's Masters, and the downpayment.

Posted in Budgeting, Saving Money | 1 Comments »

1 Responses to “March Zero Out”

  1. Jerry Says:
    April 1st, 2010 at 09:09 pm 1270156178
    1270156178

    Woohoo! A Frivolous Spending Account! I want to have one of those someday, that would lead to less headaches when I really want to do something just for fun. Maybe once I'm done with school? The Home Down Payment Account will offer you insurance of a smoother and more favorable transaction, and I think that dovetailing the Baby Account with the other will work, as long as you remember that is what it's for... good luck, you are doing great!
    Jerry

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