My friend told me he’d send me $1000 this Friday. This covers his half of trip costs + $300 in future restaurant costs. That puts my checking account at $2531. Which of course makes it tempting to buy the $310 yo-yo or the $510 knife. Q: How much could I safely transfer into savings? $500 seems like a no brainer. $700 is a little iffy but would probably work.
$700 has the logic that I would have saved $700 anyway. The remaining $300 is intended for spending anyway.
Another way to think about it is that I have $12,245.07 in emergency fund / investments outside retirement. If I add $754.93 that’s an even $13000.
Q: Should I transfer the money now, anticipating the Friday money? How long will it take to hit my bank account? Maybe I’ll just hold it in the savings account until my next pay day…