Checking Account Balance = $558
Savings Account Balance = $11,294
On Line Savings Account:
July 2008 Interest: $29.15
2008 YTD Interest: $141.65 (not bad!)
2007 Total Interest: $177.44
Well, it's nice to see that we are earning a little bit of interest. That makes me happy.
Our checking account balance is a bit low right now. This is a low (actually NO) commission month. I have transferred $3,000 from savings to checking (which is not yet reflected in the above numbers because it hasn't gone through yet) just to cover our regular monthly expenses. Yikes. At least we have finally learned to save from the high commission months so we have something for the low commission months.
I am getting a little worried though because we need to replace our heating system asap. Some of the quotes have been over $6,000. That will make our savings account dangerously low (around $2,000). With a $1,000 BEF that only leaves another $1,000 for upcoming low commission months and my daughter's braces.
More news is that my sister just got engaged! While I'm very excited for her, it looks like the wedding will be in Florida in March 2009. That will be expensive for the 5 of us to fly down and stay, and that's not a lot of time to save up.
I'm so happy that I've signed up for Financial Peace University again. It starts on 9/13. It will be great to have to spend 2 hours each week focusing on finances!