Monday, March 02, 2015

Thank Goddess for Savings

I might have mentioned 100 or so times on here that I get paid only once a month. I've been working at the same institution since 2002, so I'm over it. We get paid on the 28th, but if the 28th falls on a Saturday or Sunday, then we get paid on the Friday before.

The days leading up to payday are full of anticipation for me, because I look forward to seeing the amount go into my chequing account, and I love removing bits and bobs of it into my various savings accounts. Then I calculate what bills are going to be removed electronically and leave that amount in chequing, while the amount of bills that I pay manually later in the month goes into a savings account. I usually have less than $200 on the credit card that I pay before the due date.

This past weekend I knew I would leave extra in the chequing, because the kid would be home and we had lots of plans. Friday morning, I didn't receive an email about the deposit, and I logged into my account about a half dozen times, to find the amount to be only $40, $30 of which was alotted for a cheque I wrote to the childcare services last week.

Finally at about 1 pm, I mentioned it to a co-worker friend, and she said there had been an e-memo on the portal about a mix-up in the payroll office. I logged in to check it, but it had been updated to say the issue was resolved. I checked my bank account again and again, but the issue hadn't been resolved for me.

I felt badly about the event, and how it might negatively affect all our big plans for the weekend. I worried about the payments that were scheduled to be withdrawn on the 1st of the month. I raged against the machine for a little bit, but when I logged into my chequing account again, I took a look at my savings accounts. And I told myself everything would be ok.

I have a whole month's pay saved up in one account that is earmarked for Bean's orthodontics later on. I have another whole month's pay in a mutual funds account that would take a few days to cash out. I have another two weeks or so saved up in a TFSA. I also have an emergency fund of almost a whole month's pay at a brick and mortar bank, where I also owe my student loans, car loans, and mortgage (they own me, I might as well sign Bean over to them!).

I am 40 years old, and this is the first time in my life that I am ahead of the pay game. I could go almost three months without a monthly paycheque - not that I would want to! However, this is a potential strike year (again! where does time go) and if we actually walk the line this time I will have about six months pay saved up by then.

And if we don't walk the line, some of that savings is going towards a trip to Disney World in 2016. I'm just saying.

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Thanks for commenting! I will have it published as soon as I can ~ Karissa