Valued Contributor
IOBA
Posts: 2,697
Registered: ‎08-13-2009
Re: Hop in! On my way to a 100k!

The second week came to a nice close.   Yeah!!

 

* I used the IRS calculator to figure out an estimate of tax obligation for tax year 2012.   Realized that if I tweak that and do that, I can squeeze even more out of my paycheck.  (Every year, for the first 3 months, I have my withholdings at the max - 10 dependents for the Federal.  So I get that extra to tide me though the first few months.)   So, did the math, and realized that when I had shifted back to the zero deductions, I woudl be overpaying.  So I tweaked and on Friday, I will get a sneak preview of what my new net amount will be.   Weu weu!!

 

* I have a tenative new budget based on the projected new net pay.  Will finalize it when I get the sneak peak.  Of course, I will continue to pay myself first.

 

* Decided to fully fund the IRA's asap!  My CU is offering a special CD at 3% APY for IRA's.   Count me in!

 

* Decided that the emergency fund should have 50k in it.  Don't have it right now.   But it's something to work towards.  I am still purchasing the CD's every payday.

 

* Discovered (or re-realized) that if I can put my annuity up to 10k, my interest rate will go up .05%.  Ok - did that.   :smileyhappy:   I already earn 54 cents a day...wonder if that will jump to 55 cents a day??  Or rather, WHEN it will jump to 55 cents a day.

 

* At one point, early in the week, I was sooo hungry, I was looking around the yard and wondering what was edible!  :smileyhappy:   Saw the bamboo....you know they sell that stuff in stores, right?  :smileywink:   I got past it and planted more seeds for a garden.

 

* Definitely going through the food in the house.   Those three cans of clams bought for clam chowder - made the clam chowder.  Only needed to spend $2.99 (plus tax) to get the one missing ingredient.  That can of salmon - ate it.  Been doing that.    Not sure how substainable the $200 a paycheck food budget is, but with some work, I think it can happen.   

 

* Paying for eating out and for groceries with cash.   All the extra coins go into the bank.  :smileyhappy:

 

* I buy an Ally CD every month.  Did it for April too, but instead of choosing the 4 yr one, which I normally do, I choose the no penalty 11 month.  It's earning basically the same as my savings account (.94%) and it will mature in 11 months.   I can then move it into something that is earning as much or more in interest.

 

* Of course, I update my chart almost daily.  :smileyhappy:   There is a gap between the reality and the goal.  We call that our "find under a rock" money.  Those loose coins I redeposit into the account helps reduce the amount of money we need to find under a rock.  :smileywink:   I know, it's corky, but we take pride in reducing that number.

 

*whew*  Can do this!!