the fate of the extra cash

My theory is that if extra money comes your way, it needs to be funnelled to whatever destination you have planned - immediately.

If you don't, karma knows you have cash. Karma will find a way for something unexpected to come along that will take your cash.

I spent a good while yesterday mapping things out on what I wanted to do with it, and it's friend, August extra money. I would get a plan written out and then go for a walk and when I came back I would remember something else upcoming that I hadn't accounted for. So I would change the distribution. I think I did this three times yesterday. Funny how even when you have a pretty good read on your world and your expenses, if some one time expense isn't written down, it can be quickly forgotten.

So this morning, like a little Easter bunny, I went hippity hoppity around to take care of the money.  Here is how it was divided up.

• $100 towards my TFSA goal of $1000 this year. This I took right away to the bank and put in my 'high' interest (1.015%) account. I did learn that I have to go in and have someone move the money from my regular account to my TFSA account, and that I can't do it on my own. When I reach my goal of $1000 then I will go in and have them move it. They are in the process of making this something clients can do themselves with online banking, but they are not quite there yet. I will be much happier when that money is in it's official home.

• $100 for Christmas gifts for the new babies. They weren't around January 1st and I hadn't factored them into my Christmas budget for this year. We have a big family. I don't buy anything for my sisters or their children (by mutual agreement), but the great nieces/nephews are in a different category. I will give them each $50 for Christmas to go in their education savings plan. It used to be more per child but there were fewer children then. I am now a great aunt to five kids. Wow I am getting old....fast. This $100 will take care of the new ones. I have the cashed tucked away in my home safe until Christmas

• $150 for DS1 for grad gift. We talked about what he would like. He threw out ideas such as a laptop for his road trips or a good camera. He really is motivated though to save $ for a trip with his friend next year. I decided I would give him $150 of July's extra money and $150 of August's extra money. That's all he will get from mama for this trip. He wants to be an adult and I want him to know that satisfaction of having earned the money himself.

• $100 for hockey equipment. Many of the expenses are covered by the team but things like elbow pads and shoulder pads, cans, etc are not. DS mentioned he needed new elbow pads before fall and perhaps a new can so we will use this money. I am glad I had it and wasn't surprised and finding myself short of cash.

• $150 for Back to School Groceries. I always find myself needing a big  grocery trip right before school starts. Perhaps it is some sort of nesting instinct. Perhaps it is a modern day Laura Ingalls Wilder and a need to bring in the 'harvest' before it gets too cold. Everything from toiletries and cleaners to canned goods, to meats. I like to start knowing that as I go back to insanely busy for the start of school, that I don't need to be running around for things I need. I have this money tucked away too, to watch for sales so I can make the most of it.

So there is it. Money in and money out....but planned for!