Paycheck-to-Monday

For those who ended up with “too much month-at the end of our pay”, you’ll be happy to know that tomorrow is Payday. Many of us, myself included, are anxious for the clock to strike midnight, and for direct deposit to make a smooth landing into our bank accounts. I write this post to remind all budding Finanshionistas to “approach with caution” when divvying up how you are going to allocate your money until August 15th – I mean 14th (the 15th is a Saturday).

I personally have (7) savings accounts…

Savings

Emergency Fund – Amtrust
H10 Savings – Amtrust
House Account – TD Bank
Brokerage – TD Ameritrade
Money Market – TD Bank
ROTH IRA – First Investors (Value)
ROTH IRA – First Investors (Growth)

and (11) people who on a given month will find their way into my pockets. Like vultures, they (the dreaded expenses) hover over my head and mailbox, daily.

Expenses

Student Loans
H10
CitiCard
Victorias Secret
Sovereign Bank
Chase
Utility: Rent
Utility: Cell Phone
Utility: Electric
Utility: Gas
Utility: Internet

“B” word withstanding (budget), I organize my payees according to priority. Me, Myself and I are first! With seven savings accounts, I am hoarding for a rainy day (or Burberry rain-boots). The point is I’m covered and will continue to make sure that I am.

Active expense accounts tally at (7) too. I’m C3 debt free, remember? Unfortunately, all of my expense are recurring and quite necessary. Since I like having a roof over my head, good credit, heat, electric and gas, I’ll continue paying for those items.

Once the appetites on all accounts are satiated, I’m left with a new kind of mutual fund; a “WTF Fundwhere I can do “whatever-the-F” I like with it. In the past, it was usually splurging on the nearest H&M. Recently, I’ve been gifting or reinvesting into the Queens Estate (my empire).

Treating my savings the same as I do my expenses, forces me pay the most important debt collector first: myself. Why should they have first dibs before me?

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