Budget Rollover -Where to put Extra Cash

iVillage Member
Registered: 08-04-2004
Budget Rollover -Where to put Extra Cash
3
Sun, 11-14-2004 - 3:04pm

Hello! Hope everyone is having a nice weekend! I am loving the cool weather and football!


DH and I use an envelope system (we pull out enough cash to get us through two weeks and place in designated envelopes for groceries, gas, etc).


This pay period we stuck to our budget like glue, and we have an excess of 80.00 in our checking account (we usually live week to week with no excess). All of our bills have been paid and we still have cash in our envelopes to get us by until Thursday (payday).


Here is my question: what do we do with that excess money? Do we leave it in our account and let it roll over, or do we stick it in savings, or do we tack it on to a debt payment during the next pay period. I realize this is an open ended question with no set correct answer, it would just help me to hear some opinions.


Thanks for any comments! :)


iVillage Member
Registered: 05-10-2004
Sun, 11-14-2004 - 4:36pm

If I have anything extra I put it towards debt. For instance, this week we have $56.43 left in our checking account. I will put that towards our credit card.

 

Avatar for lovmy2kids
iVillage Member
Registered: 03-26-2003
Sun, 11-14-2004 - 5:28pm
$80.00 Woohoo! I was happy this last paycycle when we had $18.00 left. Way to go... Now what to do with it. Well that all depends. Do you have any moeny in savings? If not then I would send it there. If your putting money into savings regularly then I wouldn't worry about it. If your budget has you living very tightly with little to no spending money then I would use a little tiny bit of it to reward you and Dh for doing such a great job sticking to your budget then I would send the rest to your target debt! Again great job!

-Darcy

P.S. I sent my left over $18.00 to my target debt.

 

iVillage Member
Registered: 08-04-2004
Sun, 11-14-2004 - 11:28pm

Thanks you guys! I will probably split the money and send half to savings, half to a credit card! I appriciate your insight! If the excess is there next pay period, I may need to re-evaluate our budget and create a regular place for the extra money (and splitting between savings, and an extra debt pmnt may be just the right thing for us!).


Thanks again for responding! :)