Misbudgeting…

Ok I thought I had it all figured out.  Going to dump all my money in one account for the short-term. This last week I made a mistake of having multiple auto transfers coming out of my main account and it went negative.  I have a Line of Credit for situations like this, but don’t like to use it unless absolutely necessary.  Fortunately, payday is 6 1 day away….

Got a wedding invitation from my partner’s friend in New York.  I haven’t met either the bride or the groom, but I would like to go for the experience, support and to see my family whom I haven’t seen since July of 2011.  The flights are extremely expensive and it would be a hardship between the move, credit card and student loan debt.  If by chance the ticket price drops we will go but as it stands now, those plans will be set aside.

My primary checking account pays 1% if I do a certain number of point of sale transactions each month vs .8 in my online savings account.  Additionally it takes several extra days to add or withdraw funds from the online account.  In cases where I need the money right away due to an anemic emergency fund, this is especially important.

That being the case, I’m pulling money from my online account until I figure out what the most convenient arrangement is.  I’m a big advocate of credit unions.  Not only because I worked at one, but because the service is superior and the rates are better.  I’d open up a bank account at a large bank only because of the convenient bank practically anywhere system and ease of transferring money into and out of a joint account when the time comes.

I need a replacement digital camera too.  Taking self-shots with an iPhone is ghetto and the camera I have doesn’t exactly do the job.  I had a Canon Digital Rebel XT SLR but sold it when I didn’t have a job last year.  Now I’m thinking of getting a slightly used Canon Powershot G-series.  It’s amazing how great deals come about simply from people who need cash right away.  I’ve seen it with motorcycles in the dead of winter for half the real value and cars that are mechanically sound but a generation out of date.  Our Western culture implies we need to have the latest and greatest.  From experience, everything gets old and eclipsed by something else.

I think Nathan of nathanbw.com is onto something where he sold the Mazda 3 series he bought brand-new for a 99 Miata.  Shame he is no longer making updates.  I get inspired by reading stories of people who were in similar or worse shape than I and were able to pull it off successfully.  I am reassessing whether 3 years is realistic to pay off all my debt.  4 seems more tolerable if by chance my earnings level doesn’t go up or I hit another gap in employment.

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