In a previous post I mentioned that not all of my extra hours made it onto my paycheck for this month. Thankfully, I got the paystub saying that an extra $152 was deposited into my account this morning. I went online to check it out and saw that only $52 had been desposited in my checking account. I was confused until I remembered that my direct deposit is set up so that $100 from each of my paychecks is deposited into my savings account. Sure enough, I am $100 closer to Dave Ramsey's Baby Step 1: $1,000 in an emergency fund. (I am taking the slow route with that to more aggressively pay off my debt.)
Looking at my budget, I may need to pull some of that $100 out at the end of the month, but for now I am going to let it sit in there. The interest rate is higher, and I really should have more in my emergency fund, so if I can keep it in there, all the better. We shall see...
Looks like you are well on your way to getting the baby steps taken care of. I have been following Dave's plan for almost 3 years if you focus on one step at a time it is much easier and it works.
ReplyDeleteFocus on getting you $1000 in the bank, then worry about the credit card debt.
Good Luck