Sentences with phrase «using rainy day funds»

The monthly benefit amount can help get you through a tight spot financially so you can avoid credit card debt or using rainy day funds.

Republicans intend to use the rainy day fund to eventually close the current year's deficit of $ 381.8 million, rather than trying to enact spending cuts in the final two months of the fiscal year.

Cuomo and his budget director Robert Megna have said that the cuts are not as bad as Bloomberg claims and that the city could use its rainy day fund to patch the budget.

Not exact matches

Don't use your retirement fund to pay off credit card debt, or pay for expenses like a wedding or a car — retirement funds are not savings for a rainy day.

Aside from that $ 850 million, which represents a use of one - shot money to repay what amounts to a debt, the Legislature should tighten up the allocation language by insisting that any transfer from the infrastructure fund must be repaid, as is already required for the rainy day Ffund must be repaid, as is already required for the rainy day FundFund.

Benjamin Barnes, secretary of the Office of Policy and Management, warned that the rainy day fund — known as the «budget reserve fund» — will have to be used to pay down the deficit unless the legislature acts to reduce spending.

Despite such cuts, Miner's budget spends $ 18 million more than the city will receive in revenues, a gap that will be filled by using up 30 percent of the city's $ 61 million rainy day fund.

In addition, the Senate Democrats dropped plans to use $ 35 million from the state's rainy day fund to plug the budget deficit.

In addition, the Governor is proposing the use of over $ 1 billion of its most flexible rainy day funds in each of the two succeeding fiscal years.

If lawmakers take no action to close the projected deficit of nearly $ 200 million in the current fiscal year, then the state's rainy - day fund could be used to close the gap.

Speaking at the last public hearing before the City Council and City Hall finalize next year's budget by the June 30 deadline, Mulgrew said the UFT has repeatedly brought ideas to the table on how to close the city's projected budget gap without teacher layoffs, such as cutting back on outside contractors at the Department of Education or using a portion of the city's rainy - day fund.

A debate is unfolding about use of the so - called rainy day fund to plug part of the hole — as a way of restoring some of the social service cuts.

As mayor, my immediate priority would be to use $ 15 million to help balance the proposed 2017 - 18 city budget, which currently draws down $ 18 million from our fund balance reserves (rainy day fund).

And Republicans have opposed efforts to use money from the state's rainy day fund to close a shortfall, a tactic the Democrats» plan relies on.

Gov. Fordice argued that the loan funds should not come out of the state's «rainy day» fund, saying that money should be reserved for statewide emergencies, not used for local crises.

Just about all of the typical budget tricks (cashing in rainy - day funds, refinancing debt, looking for one - time windfalls) have already been used.

The governor proposes using most of the anticipated revenue — which the administration estimates at $ 2.4 billion — to pay off school deferrals, shore up the teacher retirement system and set aside a rainy day fund.

They've undergone a bit of a makeover over the last couple of years, when they used to provide a custom grade for several aspects of your financial life (e.g. they offered specific scores for your mortgage, monthly budget, rainy day fund and your home value and appreciation).

For example, you might use your savings account as a rainy day fund and earn more interest there than in your checking account.

An emergency fund is simply an account that is used to set aside emergency savings earmarked for a rainy day.

A rainy day fund is different than an emergency fund, even though they are both used to save for unexpected events.

The term savings is used broadly here, and can mean a number of different items, from paying down debt to adding to your retirement fund or building a rainy day savings account.

Don't use your retirement fund to pay off credit card debt, or pay for expenses like a wedding or a car — retirement funds are not savings for a rainy day.

Consider the Gerber Life College Plan as an essential part of your financial portfolio that can be used for anything at all, from tuition and books to starting a new business, buying a car, or as a rainy day fund.

There's more than one smart thing you can do with your tax refund - you can toss the money in a savings account for a rainy day, put it in your retirement fund, or even use it to pay your health insurance premiums until the next tax refund.

You can use it in two ways: (a) to track how much you manage to put away each month in light of your current spending and adjust accordingly or (b) to pay yourself first by automatically allocating some of your take - home pay to a rainy day fund.

So maintain about 5 times your monthly income in a emergency fund which is liquid in nature or any other liquid funds for use in those rainy days.

The premium savings can be used to build up savings, create a rainy day fund or start a retirement portfolio.

This can be used as a rainy day fund, to be drawn on if you need it.