I logged into our bank account today to check in on things. I do this regularly so that I can catch any issues before they become costly problems. I'm not one to offer much advice, but I recommend doing this, if you don't already. Here's what I saw: CHECKING
Account Name: Checking
Account Number: xxxxxx4502
Available Balance: $0.16
Current Balance: $0.16
I shouldn't have been too surprised since that's what I have written in my checkbook. But for some reason, my stomach dropped when I saw it and I got nervous! All of our bills are paid, we have plenty of food and my hubby gets paid in 2 days. Thankfully, we have our emergency fund if something major were to happen. I had to take a moment to tell myself "You're doing it right. This is what it SHOULD look like when you are doing zero-based budgeting." Someday I'll get used to it!
Account Name: Checking
Account Number: xxxxxx4502
Available Balance: $0.16
Current Balance: $0.16
I shouldn't have been too surprised since that's what I have written in my checkbook. But for some reason, my stomach dropped when I saw it and I got nervous! All of our bills are paid, we have plenty of food and my hubby gets paid in 2 days. Thankfully, we have our emergency fund if something major were to happen. I had to take a moment to tell myself "You're doing it right. This is what it SHOULD look like when you are doing zero-based budgeting." Someday I'll get used to it!
I consider my checking account zero to be $100. If I get below that I'd probably vomit. There's something about going below $100 that gets to me.
ReplyDeleteI get anxious when I see that on the screen too. Some day (sooner rather that later) I'd like to have enough to cover an extra month of bills in my account, just so I don't feel like I am living pay check to pay check. I do have my emergency fund but I would still like to have that extra cushion.
ReplyDeleteIt takes a while to get used to the zero based budget. I still am not used to it.
ReplyDeleteI know how you feel. Up until my paycheck hit this morning I had .25 in mine. But all the bills were paid and I was sweating that something would clear.
ReplyDeleteGreat Job
Judy
no kidding!!!! I need to get back to $0 based budgeting!!! I have been making a habit of keeping a little bit in there & I should be sending that away to a creditor!
ReplyDeleteOn the bright side, the number was what you knew it should be. Zero-based budgeting can be hard to accept when you've been juggling for so long. You're doing great!
ReplyDeleteSarah
it is really hard to get used too.
ReplyDeletenow that we have our debt paid off, we have a big (ok not big) cushion for comfort in our account and it feel so much better
I have never been on to have a cushion in my account, because my goal is to get that number to zero. I actually get annoyed when it doesn't go to zero, because someone hasn't processed a check or something.
ReplyDeleteIf you trust yourself to execute a zero based budget, you don't need a cushion.
Keep up the great work.
It is scary. I was scared when I saw your total also. I try to keep a little buffer. Like $25.00. I am a chicken, or a duck. My ducks are more skittish than my chickens.
ReplyDeleteYup, that's zero based budgeting alrighty! Makes me nervous also so a while ago I had overdraft protection put on my account. I haven't had to use it in over a year now but it gives me peace of mind just to have access to it if I needed to.
ReplyDeleteI'm the same way... but I do like to leave a bit of a cushion in my bank "just in case"....
ReplyDeleteBrave girl! I hope to be there one day!
ReplyDeleteYikes! Although are on the plus side so that is better than the alternative. I've had plenty of years where I knew the balance would be on the minus side so I wouldn't even check my account (out of sight, out of mind?). Now with my accounts, I keep at least a couple hundred dollars in the savings accounts attached to the checking accounts so even if my checking balance is super low, if for some reason it goes negative my bank will transfer over the money so I won't get dinged with an NSF fee.
ReplyDeleteYou are braver than I am! I would probably throw myself into a panic attack if I saw that my account had $0.16! lol
ReplyDeleteGood on you! :)
I just can't bring myself to do it. I did come up with a modified plan, but I'm not near as organised as you!
ReplyDeleteGreat Job!!!
yep, at first it's hard but it works, some weeks I am better at it than others. Now I log in on payday morning and snowflake whatever amount is still there off a debt.
ReplyDeletewow that totally would freak me out. I'm not to sure what the zero budgeting thing is but it sounds like something I would not be able to do. i like having money in my bank account for those just in case things.
ReplyDelete