Sweeping "left at end of month" Into... ?

DannyB

It has been a while since I brought up the intriguing (distressful?) "left at end of month" number in the Spending Plan.

I've asked about, speculated on and experimented with what to do with this as it is a positive number for me. My first impulse is to add it to my savings or investments, but I've never felt very confident it was actual cash somewhere and not simply a phantom number, but my understanding is that the LAEOM should be a real amount of unused/undesignated dollars and cents somewhere in one of my deposit accounts.

A few months ago, after the ability to make a savings goal contribution in the month just past, I have started "sweeping" these extra dollars into a savings goal I call LAEOM. This SG is not set up to set aside contributions and thus is not part of my monthly Spending Plan, this is a free-floating SG strictly set up to track my LAEOM funds.

To ensure that the I make this sweep after the first week of the new month (somewhere around the 8th). This ensures that transactions from the previous month have been settled and that the LAEOM amount is accurate.

If the LAEOM amount is accurate and truly surplus income that is now set aside in my LAEOM SG, then the available balance in my cash account should reflect exactly what is available for this month's Spending Plan expenses.

I'll be watching this to see how it pans out.