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My Cash Accounts

June 5th, 2011 at 06:28 pm

Yesterday I decided to cap my EF at exactly 3 months take home pay (for now) and start building up a CurveBall fund, for items such as vehicle repairs, home repairs, etc. I want to keep the EF for dire emergencies ONLY.

Several months ago, I opened a savings account and called it "Personal Expenses" and had started depositing any leftover money from my Cash Allowance, to be dipped into for those sort of expenses as needed. Great in theory, except, I didn't use it when I did need more cash. So I renamed the account "CurveBall" and will add to it instead of to EF (Main savings).

So here are my various savings accounts:

1. EF - kept at Ally Bank, balance $9,075.00

2. Vacation Fund - kept at Ally Bank, balance $3,174.55.

3. CurveBall Fund - kept at Ally Bank, balance $102.21

4. Piddly Fund - kept at Wells Fargo, balance $377.96. This is the account into which I deposit the change in my wallet about every 2 weeks. I have been doing this for years. Usually, I use the money for something fun for my family. However, right now I am thinking I need to just hang onto it.

5. Membership Account - my credit union, balance $5.06. This account is required to be open in order to be a member at my credit union.

6. Checking Account - kept at Wells Fargo, balance currently $2,266.41. Yesterday I paid every bill I have on hand, so there are only a few left to be paid for June. So far in June, I have not received any paychecks. I like to live on last month's salary and have a cushion. My planter money is also here ($400, I sent $300 off to B of A Visa yesterday). In August, my car insurance policy will run out and I will pay another 6 month premium out of the extra in my checking account. Another reason why I like to let it build up.

7. Betterment Account - $10.00

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