Re: Hop in! On my way to a 100k!
04-11-2012 11:41 AM
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. 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! Saw the bamboo....you know they sell that stuff in stores, right? 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.
* 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. 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. I know, it's corky, but we take pride in reducing that number.
*whew* Can do this!!