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Paying Myself First
Friday, October 24th, 2003 19:10My overtime for the last quarter was paid this week. It is only about 500 quid and I have decided to be sensible and use it to pay some extra off my mortgage. The company share price is on an upward trend again, which is good news. It needs to keep going the same way until next May when my first Share Save Scheme matures.
On a monthly basis, paying myself first means that my regular savings are transferred by standing order the day after payday and that I have direct debits set up for my credit cards to pay off the full amount every month. The exception to that is my 0% credit card, on which I only pay the minimum, but I have got the full amount sitting in a savings account ready to pay it just before the 0% offer runs out in March.
( monetary musings - boring )
On a monthly basis, paying myself first means that my regular savings are transferred by standing order the day after payday and that I have direct debits set up for my credit cards to pay off the full amount every month. The exception to that is my 0% credit card, on which I only pay the minimum, but I have got the full amount sitting in a savings account ready to pay it just before the 0% offer runs out in March.
( monetary musings - boring )
