Wednesday, October 14, 2009

Got money left at the end of the month?

My budget cycle runs from the 15th of one month to the 14th of the next. I get paid semi-monthly, and starting my budget on the 15th just works better for me. So I'm at the end of the budget cycle, and I have money left in the auto category. This is for gasoline, oil changes, etc. Right now, I budget $210/month for this expense. I set this amount back in the summer of 2008 when gas was over $4 a gallon, and I have not adjusted it even though gas prices have fallen significantly. When I filled up on Monday, I only paid $2.149 per gallon thanks to that 15 cent discount I get with my Kroger credit card. This is probably the ONLY category in my budget that I always have money left at the end of the month (unless I have a repair bill).

I only spent $99.89 for gasoline the past 30 days, and I have $110.11 left over.

Should I send it to one of the debts? Maybe. But, instead I send it to the savings account for the "new" car fund. No...I am not shopping for a new vehicle. I really hope the one I'm driving will last several more years. It already has almost 125K miles on it, but it's a good ride and I hope it stays that way. However, I know it won't last forever, so I try to set aside money every month for that next vehicle. So tomorrow, I'm transferring $110 to the new car fund.

This is probably a post for another day, but don't forget about those big ticket items down the road! Otherwise, when they rear their ugly heads, you'll end up incurring more debt.

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