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3 paycheck month -> boosted savings

August 31st, 2019 at 12:46 pm

August was the 2nd month of 2019 when I got 3 paychecks. Although we don't do any sort of strict budgeting, our monthly spending and saving is still built around 2 checks per month.

On top of the extra check, I also worked 8 hours per diem for the pay period in addition to my regular hours so my take home was about $1,000 higher than usual. And due to paying off our mortgage from funds in our escrow account, we didn't make a regular mortgage payment this month which would have been just over $1,700.

Add it all up and we suddenly had about $8,200 extra in our checking account. There's also another $500 that was left in the escrow account after the payoff that we'll get back in a week or so.

I transferred $8,000 to our Ally account and $500 to our taxable Vanguard account. I'm probably going to take $5,000 in the Ally account and buy another CD to bump up the interest some. I do want to keep a nice cash balance in case I need to replace my car sooner than expected. It is almost 14 years old and I'm having an issue that I'm hoping doesn't turn out to be expensive to fix, but if it is, I may just get rid of it and replace it. It's not worth spending a bunch of money on the car at this point. It's only worth a couple thousand dollars.

5 Responses to “3 paycheck month -> boosted savings”

  1. rob62521 Says:

    Wow, you've had a good month money wise! Smart move on moving the money to make more interest.

    Hope your car is a cheap fix, but you have a plan if it isn't.

  2. crazyliblady Says:

    You have had a great month money wise. It's great you have a plan for what to do if your car quits on you. And the extra $8K. That's fabulous!

  3. mumof2 Says:

    Wow that is awesome nice to have some extra cash...we don't update our cars very often either but probably will next year...

  4. disneysteve Says:

    It's amazing how fast the money starts to accumulate once your kid is out of college and working and your mortgage is paid off.

  5. fireandi Says:

    It's nice to have an extra almost $10K. :-)

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