Where to Put the Savings: How I Plan to Save for Our Trip to Brazil (Part 3)
I already shared with you in my previous post the exact amount that I intend to save in the next 27 weeks in order to secure money for our airfare to Brazil.
Having 4 separate accounts in Bank A, for the last 10 years or so, all accessible online, I decided NOT to use any of them because its easy for me to deposit, transfer, withdraw, rinse and repeat. I have an existing passbook account with Bank B. I opened it just a year ago and it bears my business name. Only the minimum maintaining balance was I think, the only reason it stayed in active status. The business needed to take the backseat while the driver is trying to make sense of all the things she wants to do with her life all at the same time. Anyway, back to regular programming... I contemplated and debated with myself for 5 seconds if I'm going to close it and open a personal passbook account in the same bank.
Just the idea of me having to submit at least 2 valid IDs, couple of mug shots, copies of marriage certificate, and fill out unlimited copies of different application forms at the bank after waiting in line for at least 30 minutes made me almost instantaneously and unanimously decide (with myself), just like the unanimous decision that made Pacquiao lose to Mayweather, to revive the passbook account that has long been in the ICU, kept alive only by an oxygen tank that is the minimum maintaining balance.
Now, the real challenge is this: where to scrimp in our budget to complete the equation: Miggy's monthly amortization + X = 25,000. Find X.
Wait for my next post as I share with you my solution to find X. Not the figure itself, but the possible means on how I'll get X amount.
Having 4 separate accounts in Bank A, for the last 10 years or so, all accessible online, I decided NOT to use any of them because its easy for me to deposit, transfer, withdraw, rinse and repeat. I have an existing passbook account with Bank B. I opened it just a year ago and it bears my business name. Only the minimum maintaining balance was I think, the only reason it stayed in active status. The business needed to take the backseat while the driver is trying to make sense of all the things she wants to do with her life all at the same time. Anyway, back to regular programming... I contemplated and debated with myself for 5 seconds if I'm going to close it and open a personal passbook account in the same bank.
Just the idea of me having to submit at least 2 valid IDs, couple of mug shots, copies of marriage certificate, and fill out unlimited copies of different application forms at the bank after waiting in line for at least 30 minutes made me almost instantaneously and unanimously decide (with myself), just like the unanimous decision that made Pacquiao lose to Mayweather, to revive the passbook account that has long been in the ICU, kept alive only by an oxygen tank that is the minimum maintaining balance.
Now, the real challenge is this: where to scrimp in our budget to complete the equation: Miggy's monthly amortization + X = 25,000. Find X.
Wait for my next post as I share with you my solution to find X. Not the figure itself, but the possible means on how I'll get X amount.
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