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Day 5 How I Use Capital One 360

August 28th, 2016 at 02:29 am

I briefly mentioned in a previous post that I have savings in Capital One 360 for the days I am out on FMLA (family medical leave act) to take my dad to the doctors. I recently began this fund to supplement the wages lost on the days I am away from work. FMLA is supposed to protect you from job loss due to being away from work for many absences due to medical situation or caregiver duties.

Anyway, opened my first account when they were ING Direct and they had an amazing interest rate. The interest rate is now abysmal but I use it like an envelope system for expenditures that are not in the normal budget. Like an escrow account like CCF uses.

Here are my escrow savings accounts with Capital One 360 (deposits every other week on paydays):
Healthcare FMLA days, 20.00 (I just opened this)
Christmas Club, 10.00 (I hope to supplement with gift cards I earn from apps. I may try surveys if I have the time)
DS3’s school expenses, 5.00 (He is a junior in high school. Saving for his senior year and all that entails).
Clothes Makeup and Hair, 5.00 (this is for me)
Travel 2.00 (low priority but I may have enough for travel in September)
Lunch Going Out, 2.00 (setting aside funds to have lunch somewhere)
Sharebuilder 1.00 (investment accounts, IRA and Roth)
CCW Dues n Cards, 1.00 (I’m in a ‘Church Lady’ group. This is already fully funded for 2017)
Gym annual fee 39.99 x4, 7.00 (Even though I knew about it, it still took me by surprise last year. I’m prepared now).
I don’t know why I haven’t opened one for auto insurance. I will need to do that soon. We taught DS1 well because he escrows his auto insurance. Proud of him!

Yesterday:
DH working overtime.
Spent 3.75 on a box of ice cream sandwiches.
Counted the change in my change jar = 6.07
Breakfast: 2 slices of French toast, 1/2 banana, coffee
Lunch: half a sausage and some cheese
Dinner: Turkey/Veggie Casserole (My first attempt. Needs some improvement), red wine.
Snack: 2 oz. of hard cheese
Extra food: Ice cream sandwich (dessert)

I think I will start a NSD ticker for the month of September and display on the sidebar. My goal is to have 15 NSDs in September (half the month).

5 Responses to “Day 5 How I Use Capital One 360”

  1. creditcardfree Says:

    Great plan to escrow those less frequent expenses!

  2. scottish girl Says:

    You sound really organised. So, you have investments too?

  3. Kiki Says:

    Good Idea!!

    I "escrow" most of the expenses of my life. Many of my utilities are paid every other month so I save half the amount needed each month. Car insurance, a payment toward a doctors appointment deductible, gifts, glasses, gym membership, car repairs, vacations, and college classes I wish to take. I've been doing this for more than 10 years and makes me feel better knowing I am planning for the future.

  4. rob62521 Says:

    Love your organization!

  5. Trying to get ahead Says:

    Thanks rob62521. This has taken me many years to get to this level of financial organization and there is still work to be done.

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