Wednesday, December 18, 2019

Following the Cash

I bank at two different banks.  We have our primary bank where we keep a joint checking, savings, HELOC and a cash rewards credit card in my name. We have been with this bank for years and years.

I also have an account at a seperate banking facility, this is where I keep my eBay checking account, and my personal checking and savings account.  It is a lot of accounts to keep up with but most days I am okay with it.  

I use the online bill pay from MY bank to pay bills and to make payment to OUR accounts (HELOC,  JOINT CREDIT CARD, any MY CREDIT CARD).  Little did I know that there is a significnt delay in the transfer time from MY bank account to our JOINT Credit Card.  I sent a payment Friday to payoff the JOINT credit card and it will not post until today, which is one day late.  When I checked my accounts this morning, I see that I was dinged with a late payment charge of $28.00.  Good Grief.   Oh well, lesson learned.  When the transfer date is clearly stated, don't think it will get there one day earlier.  

This year, my eBay earnings have been sitting in my eBay bank account.  After the first of the year, I will withdraw %70 of them and apply that amount ( which is a little over $2000 currently) to the HELOC.  For now, I think that I will do that every quarter.

Whittling down the HELOC will be a process, and to be sure there will be hiccups, bumps and unforseen expenses down the road.  But, there will also be wins, small victories and huge accomplishments. 

1 comment:

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