An irritation from budgeting "off" month

**mateosbaby** · 02-02-2012, 10:51 PM

So we go by 2 paychecks (hubby is the only one with an income). So our new month starts tomorrow. So our checking account was getting low-ish, a few hundred in there, and I knew that, so we were being very careful with the card. When the mortgage came out automatically on the 1st and another automatic came out today. ARGH! So our bank transferred the money from savings to checking automatically, which means there's going to be a fee. GRRRRR...... I quickly transferred $1000 over, even though we get paid tomorrow, but I am not risking anything else right now.

So how to avoid that in the future? If every penny is budgeted and has a name, and a lot of it goes to savings accounts rather than checking, how can I avoid this in the future? I haven't had this happen since before we started TMMO, so I am really confused, annoyed, mad, etc.....

**mombottoo** · 02-02-2012, 11:16 PM

Would seem to me if you are paid twice a month then your last paycheck of the month would have to be able to cover both automatic withdrawls that are due the 1st & 2nd of the month following the last paycheck.

Does that make sense? I think I just confused myself...LOL.

**Sumacaroni** · 02-03-2012, 07:22 AM

Sorry, I can't understand exactly what happened but wanted to stop by to hug you

**Russ** · 02-03-2012, 07:46 AM

What is the interest rates on both accts?
I guess my point is, you probably aren't making much on that savings acct and whatever it was, is gone.

Why not put $XXX.00 in the checking and forget about it so this never happens again?

**ladytoysdream** · 02-03-2012, 08:16 AM

Go to bank, beg for mercy, and maybe they won't charge you the fee. At least you had it in savings and it transferred over. Being savings accounts are not paying much interest, keep one month ahead for bill amounts, in your checking account. That way if there is a OOPS, you have a cushion.

**mombottoo** · 02-03-2012, 08:17 AM

Originally Posted by Russ

What is the interest rates on both accts?
I guess my point is, you probably aren't making much on that savings acct and whatever it was, is gone.

Why not put $XXX.00 in the checking and forget about it so this never happens again?

Russ has a valid suggestion. Many checking accounts also offer interest. I know ours does...we have to have a minimum average daily balance of $400 to earn the interest.

**krbshappy71** · 02-03-2012, 10:17 AM

Are your automatic payments sent by you or sucked out by the company?
I have mine sent through my bank, I control what day they are sent. I give myself about 3 days after my direct-deposit is supposed to arrive.

If you have it sucked out by the company you might want to change that so you have more control over the dates things are sent.

**frugalfoster** · 02-03-2012, 10:39 AM

Can you change when the auto payments come out? Make them for a few days after the paychecks come in?

**Happyfamily2000** · 02-03-2012, 03:12 PM

We are doing TMM/FPU---there is a Monthly Cash Flow plan and a monthly spending plan.

We get paid bi-weekly (every two weeks). We cannot do a "monthly" budget per se as the dates we get paid are constantly shifting around.

The Monthly Spending plan allows us to "assign" line items to the pay day. So thus, in your situation, the Mortgage hitting on the first would have had to been covered by the paycheck that preceded it and not the first pay check of the month.

Easier if you get paid consistently twice a month on the 1st and 15th or similar. But it still helps to assign the paychecks a job so that you have the money before the bills hit.

**khaski** · 02-03-2012, 03:58 PM

If you planned to have it covered, but then it wasn't covered as expected, you need to look over both your budget and your banking history to see where the #s are off. Sounds like a calculation error or 'forgotten' expense somewhere, if I understand you correctly.

**Momto5RN** · 02-03-2012, 04:21 PM

my dhs was paid 2x a month the paycheck that came on the 30th
covered the early next month bills.

if its twice a week ( usually 2x in a month ) and the date fluctuates i would make sure the odd month when i get a 3rd paycheck i dont count that as extra until i know the money for the early weeks of the next month are covered ,

**mateosbaby** · 02-03-2012, 05:37 PM

Thanks, all. I think my biggest problem was that I was trying to do it in anticipation that my grandma may not make it through the week. Thankfully, she has pulled around, but still, to have done it under stress (to save myself the trouble should the worst have happened) was probably not so smart.... I think I did forget to leave the cushion, and for some reason I think I thought I was scheduling that bill myself. But I actually have it automatic through my bank's billpay system. Argh... I gotta go dig some more, but I think that is what happened.

Stress is most definitely not the time to figure out how your bills are being paid. Of course, if the worst had happened, it wouldn't have even gotten done....