Tuesday, June 28, 2011

Rolling over

Remember when people still counted minutes on the usage of their cellphone service.  I do because I still do that.  I don't have an unlimited plan, so I am conservative with my usage.  And also remember the rollover plan some companies have with unused minutes.  What a great idea.  It's stuff you paid for, why should you throw it away?

Some times, I like to "roll over" the money I didn't use but was budgeted for.  For example, there is $50 budget for small repairs around the house every month.  If there is nothing to use it for, it gets added to the $50 for the next month so I have $100 and so forth.  So if I need to get a new water heater the next month, I have $100 already for it, so I am only need to add $200-300 more instead of $400.  I don't keep it in a separate account.  There would be too many accounts to keep track of, if I had one for every category.  But it would be nice to look at!

Not sure if anyone else do that or I am doing silly mind trick with myself.  If I rolled over my personal spending amount every month, it would give me more motivation to "save" for something that I want to splurge on.  Let's say I have a budget of $50 spending per month. Every month, I just have to stay under budget.  After 6 months, I could potential have $100 unused money rolled over in my personal spending.  Then I could splurge one something that is the amount in my rollover, in this case it's $100.  I wouldn't have to justify to myself that I am splurging once or feel guilty that it comes out of any other pile of money.  It's money I already "spent" or budgeted for but not used.  Or think of it as prepaid installments instead of credit card balance minimums after.

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