Hello! Please enjoy this blog post from a friend of mine. We have a buffer in our checking account and it gives us major peace of mind. Do you have a buffer?
About a month ago, I discovered we had quite a decent buffer in our checking account. It has always been a lofty goal of mine to get one month ahead in our main household account.
I figured squirreling away a little here and there would contribute to the effort, but I never really took the time to look at how much we had in the account at the beginning of every month.
After a quick budget review, I saw we had a $1,600 surplus in our account! I knew I was squirreling, but I didn’t know I had all of those nuts set to the side. I was just leaving a little in the account at a time, but it’s obvious little unnoticed funds left here and there add up to a substantial amount.
I don’t plan to stop at the $1,600 mark though because it’s not anywhere near a month’s worth of income, but it’s definitely a start.
I’ll continue doing what I’ve been doing — add the money and ignore it.
Hopefully, within another year we’ll reach our goal of being a month ahead in our checking account. There are several reasons I can rattle off about why everyone should have a buffer in their checking account, but I’ll just share a few. [Read more…]