On Wednesday I got paid by my second job. Not a lot because frankly the week before I didn’t work a lot. But it was just under $90 by a few cents. For a while I flirted with what to do with it. Originally when I put the goal of getting a second job this year on my list it was to use the money to pay down my LoC. And I have for the most part, if I got paid $180, $150 would to my LoC and the other $40 would go to other stuff, maybe $20 for gas and $20 into my What if fund. So I was pondering what to do with my less then $90 dollars. And I had this desire to allocate it to something other then my LoC, a very scary feeling. I ended up ‘talking’ myself into just dumping the whole amount into my LoC instead of splitting the amount up.
Yesterday I got paid from my full time job and before I started moving around numbers I did a bit of calculations. As I was leaving the office on my way to my car I started to feel less ‘strapped.’ It's was a completely psychological feeling but a dangerous one. I felt like I had ‘money to spend’. Today as I am writing thing I can tell you I am back to feeling ‘strapped’ finically. Don’t get me wrong I didn’t go out and blow everything I made. I did spend it, but on things like my vet bills fund, retirement fund, car fund and the list goes on. However after I dished the allocated money out (I get shift premiums which I never budget for because it’s a varying amount) I have $58.48 left. $10 I put back into my Emergency Fund because I took $10 out of it earlier in the week, so that left me with $48.48.
The question becomes though what do I do with the extra money. This is the most dangers kind of money I think. It’s these little amounts that slip away from you. So when you get your T4 statement around tax time and it says you made XX over your normal pay which means to actually made $40,000 instead of $35,000 and you can’t remember what you did with that $5,000. It just simply slipped away; it’s the $48.48 dollar amounts that add up to that $5,000 you can’t remember what you did with.
This was my delma last night what to do with that money. In the end I decided to put it in to my LoC. But I did realize something. I feel like I never make any progress on my funds, I think I piecemeal my pay to much. I am looking forward to when my Xmas fund is done so I can reallocate it. Maybe it makes sense to dedicate one month and put all the money in to one fund and all the money into another fund when the first fund’s dollar cap has been hit. What to you think???