I bank with Bank of America for my regular purchases. I also have money market accounts with a credit union back at home because they have pretty sweet deals on interest rates. Right now the interest rates for money markets are 2% and competitively higher than the average rate out there. The only thing is that the bank is only accessible in NC, so I always transfer money from BoA it takes a few days to process.
Today the savings and debt payments have been processed online, and these are the progress bar increase:
Debt:
I sent a check for $650 and have 15% completed! Now I have $6,800 left to pay. My dad called me yesterday because he received the check wondering whether I could afford this much. I told him about D’s extra rent and said it would be $500 normally a month.
Wedding:
I added $180 plus interest that was earned on my EF. I am hoping to add another $150 by the end of the month from babysitting.
Christmas:
I added $30. I think it will probably take more than $300 to buy gifts for everyone, but it will be nice to have that extra little bit in any case.
I wrote my new roommate an email about the May bills, including internet, cable, and a friendly reminder about our rent agreement. I assumed she’d pay me at the beginning of the month but she asked if she could pay at the end of May. Stupid me! I already put her $200 into the debt/savings for the month and would rather not take it back from the account or ask my parents for the money. Oh well, perhaps I can wait to get it later. I am so bad with confrontation and hope that splitting bills in the future will not be a problem.
We shall see.
If she is a friend just starting out that is fine, but you should make it clear that going forward you’d like her to be paying at the beginning of the months as soon as she can handle it.
Nice work on your savings!
I agree with SP. Unfortunately, with friends it works this way. Hopefully when she moves in at full rent, she’ll be paying you at the beginning of the month!
It is great that you wrote an email, just in case of problems later you have documented proof.