Progress Report

Alright, back on the horse.

So, I have successfully set up my two checking accounts. Let me explain what I'm hoping my system will be like.

A couple of you (and many many people on budgeting blogs all around the interwebs) have told me about your cash based systems. Here's the thing: I suck at cash. Hard. I will blow through $80 in my wallet and have absolutely nothing to show for it. It's like cigarettes...if they're there, I'll smoke 'em. If they're not, I'm not gonna try to get any. Same with Coke Zero (yeah, Megan feels me on this). I don't really know why this is. I idly wonder if it's because my first several jobs were cash-based, and I just never really got used to managing it well. But it doesn't matter; what does matter is that I know that I'm better with plastic. Baristas can get as pissed at me as they want to, and I hate that Visa makes money off of me with every swipe, but this is how it's gotta be if I'm going to take care of myself.

So, enter the two checking account system. I've seen this work for a bunch of people, so I'm excited. It's really just a continuation of my former budget proposal. I added up all my monthly predictable expenses:

-rent
-phone
-cable
-power (I'm estimating high on this, but it should be on it's way down over the next few months)
-loan payment
-gym
-savings

I then divided the number by 4. $197. Every week when my paycheck gets deposited I'm going to leave that amount in my first checking account (the one I have checks for) and move the rest over to my daily account (the new one). This way it doesn't matter when my roommates cash the checks I write them, and that money is out of my hands before I have the chance to spend it. The daily account is for groceries, eating/drinking out, and shoes. I'm actually pretty comfortable with the weekly amount I have, I'm just hoping it works out in a practical way.

Also, I received my first credit card in a long time yesterday (yay)! As soon as the Sprint website comes back online, I'm going to set up automatic payments for my cell phone with my credit card. Also my gym payments. And that's all I'm going to buy with it. I'll build a great purchase/payment history and then be able to negotiate better rates in about two years.

And finally, I got the keys for my PO box. I'm going to start changing my address with all the relevant parties next week.

Fin.