NinjaPigeon - My Flight to Financial Independence

Sunday, June 04, 2006

Duplicate Funds Purchase - Ouch!

I transferred $money from my EmigrantDirect account last week to my checking account so that I could put it into mutual funds. The money cleared on Friday, but I didn't want to make the purchase at work, so I was going to wait until I got home. Apparently, I made the purchase sometime that day, though I don't remember doing it.

So fast forward to today. I decide I'm ready to make my purchase. The screen looks vaguely familiar, but I think nothing of it and put through my new order. Somewhere on the screen it says "transactions cannot be cancelled". So that got me thinking - maybe I should make sure I didn't already do this.

A quick check of my pending transactions shows that I had indeed requested a purchase on Friday, afterall. Oops! A quick look at my checking account shows there is not enough money to cover a second purchase. In fact, it appears I'm short, even if I didn't have any bills to pay this week.

Problem is that my savings in EmigrantDirect will take a few days to clear. I'm worried that it won't clear before Vanguard puts through the request for the money. Oh, and the fact that I have little left in savings is not so good either.

The best I can do right now is to empty my savings at EmigrantDirect to cover the order. And to handle the timing issue, I'm going to "borrow" out of the house checking account (money that isn't mine to spend, mind you) to float me the extra 2 days or so I'll need for my transfers to work out. And then I get to figure out how to get my savings into the elusive 3-digit mark again ;)


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