I add to my trip fund by treating reimbursement checks like “found money.”
I volunteer for our church’s children’s group and our school’s PTSO, as well as Cub Scouts and Boy Scouts. I buy supplies for these non-profits: food for a fundraiser dinner, Boy Scout awards, flier copies, or T-shirts. I pay cash or put the items on a rewards credit card (that I pay off monthly), and then turn in a copy of the receipt to the organization’s treasurer.
There’s almost always a lag time. Sometimes I get the reimbursement in days; other times it takes weeks or even more than a month before the check catches up with me. By that time I haven’t missed the cash, or the credit card bill has often been paid. Since I can’t count on when the reimbursement check will arrive to pay our usual bills, it’s like getting a rebate check – found money.
When I’m aggressively saving for a trip, I put the whole check in my fund, even if it’s over $100. Small checks always go in; bigger ones sometimes I split between my trip fund and the checking account.
Since I have the flexibility to front the money, I can serve these organizations that help my children. I can also use the money I get back to pay for trips that make great family memories!
Vikki is an Arizona mother of 4 busy kids who loves vacations, bargains, and curling up with a good book. She is currently “Couponing to Disneyland” next spring.
Want to find out how to find even more money in your budget? Be sure to check out all the articles in the your fund series.
Jane says
I have found a kindred spirit! I, too, have been using reimbursement (and rebate) checks as “found” money for savings since I got engaged 9 years ago. It’s great to have extra cash for vacation fun!