26 October 2011

Banking the leftovers

Put the leftovers from your weekly petrol budget into your interest earning Emergency Fund savings account at the end of each week. With fluctuating petrol prices the difference between your budgeted amount and the actual cost can be anywhere between $5 - $20 a week, especially if you use a discount docket. You could add up to $130 and $520 plus interest to your Emergency Fund in just six months and it's completely painless!

1 comment:

  1. I keep my petrol money in a special purse. On payday I check how much is in it, then I recalculate what I need to withdraw from the bank to top it up to the regular amount.
    The money that wasn't used for petrol this pay is then half is put on the credit card if any is needed & half is put in the Emergency Fund account. If there is no credit card debt or other debts, then all that lovely money is put in the Emergency Fund.
    That is what i do these days.
    When I was a young mum a long way from my parents, I kept the petrol money in a special purse and when there was enough to cover the cost of a trip to visit the parents plus that fortnight's petrol then I would check the diary for any upcoming events, if none, then the bags were packed & off we would go to visit the kids' grandparents. Pat

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