over saving

blessed81 · March 2015

Do any of you find yourself Over saving, At the beginnig of the year i set a savings goal for the entire year. This year the gao was to save 7000.00 by December 31 so rougly around 585 a month. Altho we are on budget so far, everytime we get a little bit of ot or if too much money is in checking, i transfer it to savings. it drives dh crazy!

mana8503 · March 2015

Does your H want to use the money in another way? We always talk over extra money and how to use it.

Mustard76 · March 2015

We never really have "extra" money. All of our money is budgeted so we end the month at $0 and then start over. We pay ourselves first, so a portion of each check goes straight into our savings account, instead of saving whatever we have left after things are paid.

vlagrl29 · March 2015

Maybe you guys could divide the OT money in half and use the other half for something you both want. If we got OT I would put it in the home remodel fund. I don't think there is such a thing as over saving in my book anyways.

Sisugal · March 2015

I over save and am happy to do so.

Perhaps you could come up with a plan for the future where you split the overage amount - some to savings, some for a joint experience or purchase, some extra toward payment of any debt.

simplyelise · March 2015

If we ever have extra from our grocery envelope or extra money from an odd job, we have a conversation about how we want to spend it. Frequently we put it straight towards debt payoff, but sometimes we use it to get something more "luxurious" at the store or use it for a need we've been putting off.

lifeonthehill · March 2015

We do this. It helps us reach our goals faster. Once in awhile H will ask to take some money for himself and we do that instead. Mostly we just save, save, save now that we are debt free.

JoanE2012 · March 2015

blessed81 said:
Do any of you find yourself Over saving, At the beginnig of the year i set a savings goal for the entire year. This year the gao was to save 7000.00 by December 31 so rougly around 585 a month. Altho we are on budget so far, everytime we get a little bit of ot or if too much money is in checking, i transfer it to savings. it drives dh crazy!

We oversave whenever we can and we don't have a problem with it. We have lots of goals for the future.

Xstatic3333 · March 2015

We don't really have this problem. We transfer all money to savings or debt on payday and both lean more towards being spenders on experiences and food. We generally stay within budget but rarely have extra on payday. Maybe $20 now and then.

I'd touch base with your H and make sure all of his goals are being met by your budgeting. Is there something he would like to do with the extra?

jessica490 · March 2015

We don't have this problem either. Why don't you invest what you have left over?

vlagrl29 · March 2015

jessica490 said:
We don't have this problem either. Why don't you invest what you have left over?

This is what I would do. If you have met all our savings goals for the month, invest what money is left over

dragonstarjk · March 2015

We don't have this problem because our savings accounts are funded automatically every payday. If there's anything left over during a pay cycle after bills and the auto savings, that's what we use as our 'fun' money.

iamerikandersson · March 2015

Me and my husband always plan our budget for the month, the expenses and saving goes in that way only. Planning is the most important part of saving.

aemmert360 · March 2015

We do a 0 based budget so there generally is no over saving for us. However my husband is working off shore a lot this year, so we decided some of the funds in our budget, if they have money in them at the end of the month we will transfer it to savings. Plus whatever extra he makes will go to savings as well. We are focusing on paying off our house and paying cash for a patio so it will go to ive if those two goals.

over saving

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