What to do with budgetary surplus: another bailout?
February 3, 2009
The truck sold. What’s next?
Well, I’m pretty sure that the sale price didn’t come close to breaking even against the amount of money I’ve expended on the truck payments since last July, I’m not even checking, but it did cover the lump pay-off sum of $2356, with some cash to spare.
The question is: what do I do with that “extra” money?
My first reaction was to kick that money over to pay off the family car. It’s just about the right amount to pay it off, and would remove one more loan from the family resources. (That car is currently my parents’ responsibility, and not under my name.) It would free up cash flow about 7 months earlier than expected.
My second reaction was to put it in the emergency fund because I’m neurotically squirreling money away.
My third reaction was to leave it in the expenses fund because that’s where the money came from in the first place, and I’m a BIG fan of paying myself back.
Lastly, there’s a hybrid option. I could give them some partial assistance monthly, depending on how much they need to break even between my mom’s (piddling) disability money and my dad’s erratic income. By my calculations, it appears that they should only be running short a hundred or so each month until April. At that time, another monthly obligation falls off the balance sheet, and they should be fine with regards to the few debts I don’t pay for them.
As much as my gut reaction is just to pay it all off, I don’t want to nip this budding sense of responsibility that my dad’s developing. I want to encourage him to work with me because I’m just not up for ANY more shenanigans.