Friday, October 19, 2007

Hurray for payday!

Today is payday, and it used to be such a sad and depressing day before I did my consolidation loan this past summer. Now I've got a great little budget that I'm living by, and it's almost exciting to get paid and send my hard earned money to this account and that account, and we're talking savings accounts! Yippee!

Before I used to dread trying to divvy my pay between utility bills and credit card payments, only to see that grocery money was not much to be had, but not anymore. I opened three online savings accounts, one for regular savings, one for vacation savings and one where I put all the bill money in for my utility bills. These are all high interest bearing accounts, no matter what the minimum balance is, so even the bill money is earning me money until a bill is due. I always have enough grocery money now, even with the prices climbing higher and higher. Every payday I've managed to pay a little extra on my loan, which of course goes right to the principal, so that's a bonus. And the best thing of all, is that I am now able to regularly save some money too!

I really want to pay off this debt as fast as I can, and I hope that I'll never ever be in the financial predicament that I used to be in. I wouldn't wish that on anybody. It's way too stressful fighting the interest costs and payments. I would suggest to anyone that may find they're living that kind of life to get off that ride and look into consolidating your debt. If your own bank won't come through for you, then look into one of the many companies that offer online loans. The Internet is a great resource for services like this. I think I'm a prime example of that. I work in a bank, and although yes, I did get my loan through the bank I work at, but yet my savings accounts are with an online bank because my own bank doesn't pay anywhere close to the interest I make with this bank.

I'm really loving keeping track of my budget, and I think in my next life I'd like to come back as a financial consultant, helping others to de-stress their lives by living with a workable budget plan. Plus the spreadsheet I made for my own budget is real pretty to look at too! ;-)


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