Home > January Savings

January Savings

January 29th, 2017 at 03:42 pm

Received $41 bank interest for the month of January.

Snowflakes to Investments:

Redeemed $5 credit card rewards (cash back) from our gas/grocery card.

Redeemed $90 cash back on Citi card.

Redeemed $6 cash back on Visa/dining card.

Other snowflakes to investments:
--$4 Savings from Target Red Card

Savings (From my paycheck):

+$ 200 to investments
+$ 300 to cash (mid-term savings)
+$ 900 to IRAs

Short-Term Savings (for non-monthly expenses within the year):

+$1,300 to cash
-$1,120 insurance (various)
-$ 200 dentist
-$ 100 school lunches (for rest of school year)


All of the expenses above were December charges that we paid off in January. So this wraps up 2016.

Not much to report for January. MH had no income this month.

3 Responses to “January Savings”

  1. alice4now Says:

    Curious, do you keep all of your short-term savings in your regular checking account? I'm asking because Ynab is a proponent of this, figuring if you are budgeting the money for x category then it doesn't matter if it is all in the same account. I'm always curious how successful savers do it!

  2. MonkeyMama Says:

    Alice, I keep it all in one savings account. At the end of every month I just make one net transfer. So, if I put $300 to MT savings + $1300 to ST savings, but I took out $1,420 for expenses, then I just transferred the $180 difference to my *one* savings account.

    I think technically my "short-term savings" balance is in the negative right now and can sometimes go negative, but it doesn't matter since it is lumped with other savings. Just to throw in that having some extra buffer or savings allows for more flexibility.

  3. Bluebird Says:

    MM, that's exactly how I do it, too. I place short/mid term savings, savings for insurance, real estate taxes, etc. in my savings account, and deduct accordingly when paid.

Leave a Reply

(Note: If you were logged in, we could automatically fill in these fields for you.)
Will not be published.

* Please spell out the number 4.  [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]