So i have $250/paycheck direct deposited into my other checking account, that is $500/month of money i use for whatever if i ran short from my paycheck, which was most of the time. Now that hubby will be hopefully going back to working full time since he's done with school, i have used this money to be my vehicle to fund my retirement, savings, and to pay off all my credit cards.
So here's what i have set up to be transferred per paycheck:
10th of the month:
$20 - USAA investment
$100 - ingdirect savings
$100 - pay off credit card
------
$220 - total
25th of the month:
$50 - USAA investment
$100 - Roth IRA
$100 - pay off credit card
-----
$250 - total
i have the following credit cards to pay off:
target - 200 - 2 paychecks
cc #1 - 500 - 5 paychecks
cc #2 - 500 - 5 paychecks
hubby cc #1 - 3 paychecks
hubby cc #2 - 7 paychecks
i am also looking for some money that i can move also into my p2p investment but as for right now, i think this is a good set up:
-I am funding my emergency fund 5% of paycheck, need $50 more,
-Retirement -- target will be 5% of my paycheck so i need to add $50 by next year,
-$200 a month to pay off my $2200 credit card balance.. which will be in about 11 months!
and the greatest thing is my paycheck will still be intact! i didnt touch it at all to pay off these credit cards.
now that this is set in stone, i will just let this drive on its own.
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